Official Shiny Things thread—Part III

[rikukoh]

Hello,

For a SC account, there is a fall-below fee if your Esaver acc is below 1k. Does this mean that I have to park 1k in the esaver acc so as to not incur the fallbelow fee? Or does investments above 1k count?

Thanks,
Riku

 

[logicet]

hello everyone
hope you all are well and healthy.

can i ask regarding shinythings book on amazon...
its only sold on amazon right? and if i want a printed hardcopy, the only way is to get through amazon US right?

bookdepository also sells it

 

[crystalnox]

Hello,

For a SC account, there is a fall-below fee if your Esaver acc is below 1k. Does this mean that I have to park 1k in the esaver acc so as to not incur the fallbelow fee? Or does investments above 1k count?

Thanks,
Riku

Yes have to park 1k in there to meet the fall-below requirements.

 

[lowveld]

Hi,

I saw something in the news about a MSCI reweighing, but can't find much information online. Was wondering how this would impact an index like IWDA which tracks the MSCI World?

Cheers!

 

[cassowary18]

I was looking at the spreadsheet some kind souls shared earlier regarding the commission for each institutes

I realize for SCB, the brokerage fee formula is maximum of 10.70 usd or 0.25%

If I were to make 2 transactions of 500 sgd each, I will incur 2 x 10.70 usd right ?

Because the formula didn’t take into account of the 2 times frequency transaction although I updated the frequency due to the formula being set for as above

But I just wanna confirm if I’m right or I missed smth

Unfortunately the spreadsheet currently only works for monthly frequencies. If you're trading bimonthly you need to ownself double the cost.

But you really shouldn't be trading that often anyway.

 

[CorrectHorseBatteryStaple]

Hello,

Just wanted to check, what base currency should you use for your IBKR account? Is it SGD or USD?

And do I have to open another currency account with another bank?

Please enlighten me thanks!

Cheers,
Riku

When you create your IBKR account, they will assign you a local Citibank account number to fund your trading account.

You just need to transfer your SGD into that Citibank acct via FAST or normal transfer, and do the fx conversion within your IBKR app or portal once its received. IBKR's fx rates are much, much better than what you will get with your bank.

 

[DOINK1]

I was looking at the spreadsheet some kind souls shared earlier regarding the commission for each institutes

I realize for SCB, the brokerage fee formula is maximum of 10.70 usd or 0.25%

If I were to make 2 transactions of 500 sgd each, I will incur 2 x 10.70 usd right ?

Because the formula didn’t take into account of the 2 times frequency transaction although I updated the frequency due to the formula being set for as above

But I just wanna confirm if I’m right or I missed smth

If transaction of $500 per mth (est after conversion USD352), then there would be commission of 10.70usd per trade.

Hello,

For a SC account, there is a fall-below fee if your Esaver acc is below 1k. Does this mean that I have to park 1k in the esaver acc so as to not incur the fallbelow fee? Or does investments above 1k count?

Thanks,
Riku

I left it empty actually, only to transfer from my Multiplier acc if I need to trade once a month. Once transferred, I immediately convert it to USD settlement acc to buy whatever shares I need. As for the remaining USD in the settlement acc, I would leave it there till the next trade.

No money in acc means no fall below fees and investments of >$1k is not accounted.

 

[rikukoh]

If transaction of $500 per mth (est after conversion USD352), then there would be commission of 10.70usd per trade.




I left it empty actually, only to transfer from my Multiplier acc if I need to trade once a month. Once transferred, I immediately convert it to USD settlement acc to buy whatever shares I need. As for the remaining USD in the settlement acc, I would leave it there till the next trade.

No money in acc means no fall below fees and investments of >$1k is not accounted.

Ahh i see! Thank you!

Cheers,
riku

 

[sleepingcat]

Are ETFs the most safe? Would you recommend investing into individual stocks?

 

[cassowary18]

Are ETFs the most safe? Would you recommend investing into individual stocks?

Definitely safer than owning individual stocks. When you own an ETF you own 50 to hundreds of different stocks, so you get diversification.

 

[limster]

Are ETFs the most safe? Would you recommend investing into individual stocks?

if you come to an ETF investing thread like this to ask whether ETF or individual stocks better the answer will be ETF better.

 

[Thoreldan]

if you come to an ETF investing thread like this to ask whether ETF or individual stocks better the answer will be ETF better.

Just like visit a cat thread and ask if cat or tortoise makes better pet haha

 

[ftpofmpo]

mortgage loans for banks seems to be extremely safe, since property prices are stabilised by government. In this case, pegging loan interest to sibor rates seems like free money for banks.

Any defaults banks can just repossess. plus loan value is not 100% of property value

Y can't individuals/groups or crowdsourced platforms offer similar mortgage loans? maybe at even more competitive interest rates to snatch businesses from banks

 

[5408854088]

why are ETFs that are tracking MSCI World Index recommended over those that are tracking S&P 500 Index? thought that S&P 500 would have better performance.

 

[chekseng80]

Semi annual index review. Done in May and Nov annually. No major change expected for DM which IWDA tracked. Bigger one recent year was last year EM significantly increass china A shares.

Hi,

I saw something in the news about a MSCI reweighing, but can't find much information online. Was wondering how this would impact an index like IWDA which tracks the MSCI World?

Cheers!

 

[chekseng80]

I also prefer to display in USD. Will it affect funding in SGD which is not base currency?

You can choose either one. It mostly affects the default currency for reporting, and also decides from which cash account the monthly fees will be deducted.

In my case I chose USD because I only hold USD denominated assets in IBKR, and I don't want the USD.SGD rate fluctuations to constantly change the displayed values in the reports.

If you prefer to see almost everything in SGD then SGD as base currency is the best choice.

Make sure to always keep a little amount of cash in your base currency so as to avoid situations where the fees is deducted from zero balance which makes it negative.

 

[ranchfarm]

why are ETFs that are tracking MSCI World Index recommended over those that are tracking S&P 500 Index? thought that S&P 500 would have better performance.

This video explains why.
https://www.youtube.com/watch?v=RR7e1Y-HJxQ

 

[kram62]

I also prefer to display in USD. Will it affect funding in SGD which is not base currency?

No difference to funding, still can FAST your SGD and it will arrive at IBKR as SGD which you have to convert.

Only change is, if the balance in a non-base cash account is very small (less than 5 USD equivalent) IBKR will convert the remaining balance to the base currency (at spot rate and no fee) after 2 or 3 days.

Usually after converting to USD, there's a few sgd cents left behind, they get automatically converted to USD a few days later.

For the avoidance of doubt, if the SGD balance is more than this 5 USD equivalent (let's say you have 10 sgd or more) then ibkr will NOT touch it automatically.

 

[rikukoh]

Hello,

For IBKR, there is a min of 2k and 10 dollars comms. By 2k account balance, do they mean invested at least 2k or have 2k just parked and sitting in the account?

Cheers,
Riku

 

[crystalnox]

Hello,

For IBKR, there is a min of 2k and 10 dollars comms. By 2k account balance, do they mean invested at least 2k or have 2k just parked and sitting in the account?

Cheers,
Riku

US$2k in cash also can. Total account value.

Btw this is waived for the first three full calendar months from account opening.