Interactive Brokers - SGD now available for funding

[salmonella]

As long as the price isn't moving up fast, you should get your USD almost immediately. Next step to purchase IWDA.

1. Select IWDA
2. Set BUY
3. Go to https://www.google.com/search?q=iwda&tbm=fin to check the latest live price of IWDA
4. Add 0.10 to the price and enter that amount into LMT PRICE
5. Enter the QTY as your remaining USD cash position divide by the LMT price, round down
6. Submit

There will be some SGD and USD left over, but that's ok, you roll those forward to your next transaction

Some things about minimising spread?

- make the transaction during iwda trading hours. Better still if nyse is also open.

- how about using ibalgo to split the spread, while still setting the limit above ask price

 

[Shiny Things]

Hi I just opened up my IB account. previously saw this fellow mate saying that IB charged min USD $5 for FIXED rate. However when I live chat with the personnel from IB, they told me for US Stock market, it will be just minimum USD$1. Anyone can clarify on this?

USD 5 is the fixed rate charge for UK-listed equities (denominated in USD).

USD 1 is the fixed-rate charge for US-listed equities.

 

[Shiny Things]

- how about using ibalgo to split the spread, while still setting the limit above ask price

If your limit's above the ask price you're going to get immediately filled anyway, using whatever liquidity they can find inside the spread. Using algorithmic execution would only make a difference if you're trying to work a bid below the offer.

(Yes there are edge cases if you're trying to take more liquidity than on offer, I'm deliberately handwaving those away.)

 

[WenTai]

For IWDA and CSPX, do the counter give out dividend? If yes, in what currency?

 

[coloumbiaGames]

For IWDA and CSPX, do the counter give out dividend? If yes, in what currency?

No and no.

 

[Gughie]

Just opened an account yesterday. Was searching how to convert my sgd to nzd. It seems like I have to sgd to usd then usd to nzd. Anyone tried before? What's this ideal pro option that comes out when you try to convert.

 

[Gughie]

Just opened an account yesterday. Was searching how to convert my sgd to nzd. It seems like I have to sgd to usd then usd to nzd. Anyone tried before? What's this ideal pro option that comes out when you try to convert.

Disregard. Got the answer

 

[sgcpte]

Hi, I hope someone with experience of the monthly US$10 activity can help me with these questions:

1) If my total commissions are less than US$10 for a particular month, when would the remainder be charged? Is there a particular day in the month?
2) Assuming my base currency is SGD and I have both USD and SGD cash balances, from which balance would the remainder of the activity fee be deducted?

Thanks!

 

[Shiny Things]

Hi, I hope someone with experience of the monthly US$10 activity can help me with these questions:

1) If my total commissions are less than US$10 for a particular month, when would the remainder be charged? Is there a particular day in the month?
2) Assuming my base currency is SGD and I have both USD and SGD cash balances, from which balance would the remainder of the activity fee be deducted?

Thanks!

1) I don't know, but I would assume it's early in the month after.
2) The activity fee's always going to be deducted in your base currency.

 

[swordsly]

Hi, I hope someone with experience of the monthly US$10 activity can help me with these questions:

1) If my total commissions are less than US$10 for a particular month, when would the remainder be charged? Is there a particular day in the month?
2) Assuming my base currency is SGD and I have both USD and SGD cash balances, from which balance would the remainder of the activity fee be deducted?

Thanks!

Usually on the 5th of the next month.

SGD. So make sure you have enough SGD or they will auto convert for you (eg taking your USD and selling it for SGD).

 

[Listopad]

probably this question has been asked to death but I am confused with the trading commission (I see fixed, tiered in their website).

for example: for LSE, purchase of IWDA , what's the fee$ ?

 

[lingalong]

probably this question has been asked to death but I am confused with the trading commission (I see fixed, tiered in their website).

for example: for LSE, purchase of IWDA , what's the fee$ ?

I believe ST recommended tiered pricing in his earlier post.

After first 3 months of opening then it will be $10 USD fee if no activity, or $10USD minus any commission spent that month on trades

 

[peipei1]

Hey all, i received notification that IBkr is reducing european tiered commissions to only 0.05%, i have not done the details, but does this helps with Iwda/Eimi purchases?

 

[Listopad]

I believe ST recommended tiered pricing in his earlier post.

After first 3 months of opening then it will be $10 USD fee if no activity, or $10USD minus any commission spent that month on trades

thanks !

apart from the 0.06% comm charge, is there any other charge by LSE itself that is passed through direct to us ? eg., stamp taxes 0.5% ?

 

[tangent314]

probably this question has been asked to death but I am confused with the trading commission (I see fixed, tiered in their website).

for example: for LSE, purchase of IWDA , what's the fee$ ?

For LSE listed US$ stocks, tiered is 0.08% with US$1.70 min and US$39 max. Fixed is 0.05% with US$5 min.

This means for the lowest possible trading fees, you choose

Tiered pricing: Trading less than US$6250 or more than US$78000
Fixed pricing: Between US$6250 and US$78000

 

[Listopad]

For LSE listed US$ stocks, tiered is 0.08% with US$1.70 min and US$39 max. Fixed is 0.05% with US$5 min.

This means for the lowest possible trading fees, you choose

Tiered pricing: Trading less than US$6250 or more than US$78000
Fixed pricing: Between US$6250 and US$78000

under the fixed pricing, footnote 1) states "Stamp taxes (UK:0.5, Ireland1%) are directly passed through to the client"

what is the 1% about? or to just ignore?

 

[Listopad]

tried going through earlier pages...

assuming 1 withdrawal per month
1. DBS SGD -> IBKR SGD : no charge
2. DBS SGD <- IBKR SGD : no charge

3. DBS USD -> IBKR USD : any charge?
4. DBS USD <- IBKR USD : $10 flat charge by DBS ? any charge by IBKR?

 

[hwmook]

tried going through earlier pages...

assuming 1 withdrawal per month
1. DBS SGD -> IBKR SGD : no charge
2. DBS SGD <- IBKR SGD : no charge

3. DBS USD -> IBKR USD : any charge?
4. DBS USD <- IBKR USD : $10 flat charge by DBS ? any charge by IBKR?

3. No charge.
4. $10 charge by DBS, no charge by IBKR.

 

[tangent314]

There's no stamp duty for ETFs

 

[Listopad]

3. No charge.
4. $10 charge by DBS, no charge by IBKR.

Thanks all for the speedy replies !