Interactive Brokers - SGD now available for funding

[chopra]

Hi all,

for monthly activity of $10 or lesser, when is it deducted?

 

[Shiny Things]

Hi all,

for monthly activity of $10 or lesser, when is it deducted?

Early in the month after the month where you don't hit the $10 monthly activity minimum.

 

[chopra]

Early in the month after the month where you don't hit the $10 monthly activity minimum.

thanks ST

 

[revhappy]

I read this on elite traders forum. You can withdraw all your funds from an IB account and you can close it. However, it is fairly easy to reopen the account. Your login to account management will remain active. You can then click the 'Request Reopen' button and enter required info to have it reopened and of course you need to fund the account.

So I am going to take a sabbatical from IB until markets fall to lower valuations and then reopen my IB account.

 

[jasonlim1988]

Hi,
this IB report is very powerful yet complicated.
How do you view your monthly portfolio % increase/decrease in the report?

what reports do you usually generate to keep or view?

 

[Mecisteus]

I read this on elite traders forum. You can withdraw all your funds from an IB account and you can close it. However, it is fairly easy to reopen the account. Your login to account management will remain active. You can then click the 'Request Reopen' button and enter required info to have it reopened and of course you need to fund the account.

So I am going to take a sabbatical from IB until markets fall to lower valuations and then reopen my IB account.

How is your IB account closure and withdrawal ?

Did you manage to withdraw all the funds ?

 

[revhappy]

How is your IB account closure and withdrawal ?

Did you manage to withdraw all the funds ?

Yes withdrew everything. 0 balance. Actually at the time of withdrawal, due to interest, it caused -8 SGD +6 USD position even though it is net zero. The CS guy confirmed that they will close that position automatically. I have clicked the close account button. Now cannot login to TWS. But Account Management can still login and I can see the reopen account button.

 

[Mecisteus]

Yes withdrew everything. 0 balance. Actually at the time of withdrawal, due to interest, it caused -8 SGD +6 USD position even though it is net zero. The CS guy confirmed that they will close that position automatically. I have clicked the close account button. Now cannot login to TWS. But Account Management can still login and I can see the reopen account button.

Did you withdraw money first then close account?

Or click the close account and then IB withdraw everything?

Just curious for future consideration.

 

[jasonlim1988]

Is it possible to transfer money from IB to another person's IB account .
Say I have a SG IB account and wants to transfer to HK IB or US IB account?

 

[revhappy]

Did you withdraw money first then close account?

Or click the close account and then IB withdraw everything?

Just curious for future consideration.

Withdrew everything first. If you close account 1st then it will be auto withdrawal to your default account they have on the system via Giro.

 

[revhappy]

Is it possible to transfer money from IB to another person's IB account .
Say I have a SG IB account and wants to transfer to HK IB or US IB account?

I don't think so, that is allowed.

 

[Mecisteus]

Withdrew everything first. If you close account 1st then it will be auto withdrawal to your default account they have on the system via Giro.

Alright thanks.

 

[Shiny Things]

Hi,
this IB report is very powerful yet complicated.
How do you view your monthly portfolio % increase/decrease in the report?

what reports do you usually generate to keep or view?

I run a daily statement every morning, mostly out of force of habit.

If you want a monthly or month-to-date report, here's how to do it.

• In Account Management / Reports / Statements...
• Set up your report as follows:
  • Statement Type: Default Statements
  • Default Statement Type: Activity
  • Period: Custom Date Range. For this one, if you want a month-to-date report, set the start date to be the beginning of the month, and the end date to be the business day before you ran the report. "Monthly" gives you your monthly PnL, but only for months that have completed.
  • Format & Language can be whatevs.
• Run the report.
• Your PnL, and your time-weighted rate of return (not annualised), are under the Net Asset Value dropdown.

 

[foozgarden]

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? no for DBS US remit
4. DBS USD <- IBKR USD : $10 flat charge by DBS ? any charge by IBKR?

posted this in another thread:
i am planning to do something similar. but in another currency. - USD.
i have USD which i want to convert to SGD.
they are sitting in DBS MCA. i can use DBS remit to IB's USD acct
after converting in IB, then tx from IB to my DBS (SGD) account.
is this do-able?

what will be the cost involved?
is it just #4?
and, the S$10 monthly fee for IB?

also , how close is the spread on IB for USD.SGD?

 

[Shiny Things]

also , how close is the spread on IB for USD.SGD?

Can't speak for the rest of it, but the spread for USDSGD on IB is usually 2-3 pips, absolute max.

 

[Mecisteus]

Can't speak for the rest of it, but the spread for USDSGD on IB is usually 2-3 pips, absolute max.

Am I seeing wrongly?

I usually see about 0.5 pip spread.

 

[Assault]

Dear bros, need some help here. I opened my account and funded it, then realized I had opened a cash account. Apparently I need a margin account, otherwise I'll have to wait for my trades to settle before buying anything else.

I submitted an application online to convert to a margin account but it seems it has not been approved. My account has already been funded (more than the required $2000 NLV), and I indicated 'Good' knowledge and 2 years' experience in trading stocks.

Any bros here know what the requirements for upgrading to a margin trading account are? My last account at Saxo was a margin account (needed for my day trading) and I had it opened without needing to do anything special that I remember.

Cheers and thank you!

 

[Mecisteus]

Dear bros, need some help here. I opened my account and funded it, then realized I had opened a cash account. Apparently I need a margin account, otherwise I'll have to wait for my trades to settle before buying anything else.

I submitted an application online to convert to a margin account but it seems it has not been approved. My account has already been funded (more than the required $2000 NLV), and I indicated 'Good' knowledge and 2 years' experience in trading stocks.

Any bros here know what the requirements for upgrading to a margin trading account are? My last account at Saxo was a margin account (needed for my day trading) and I had it opened without needing to do anything special that I remember.

Cheers and thank you!

How much money did you fund?

Try funding more money. Send them a ticket and ask about the margin account.

I would also recommend a margin account even though you may not require it.

Waiting for the cash settlement is really a pain and waste of opportunity.

 

[revhappy]

Am I seeing wrongly?

I usually see about 0.5 pip spread.

I don't think 0.5 is the norm. I typically see 1-2 pip. I think Shiny says worst case.

 

[peipei1]

Did you withdraw money first then close account?

Or click the close account and then IB withdraw everything?

Just curious for future consideration.

Hey Mike, you found something wrong with IB and preparing to close account?