🔴Learn more about Interactive Brokers: www.interactivebrokers.com/mkt/?src=zietPY2&url=%2Fen%2Fwhyib%2Foverview.php%3Fnored%3Dt By just clicking the above link, you will be able to support my channel without any cost to you! Thank you so much! I will update here from time to time if there's any changes to the USD receiving bank for IBKR. Kindly double check before you perform any foreign telegraphic transfer (any misinformation will cause delay/withholding of funds!) Hope this helps! 😊
With your video guidelines ❤️ I’ve opened interactive broker account a year ago, invested 30k USD and regularly watching, supporting by likes/commenting your posts. I’m taking this opportunity to thank you - love from singapore-indian 🇸🇬 🇮🇳
thank you! this helped me setting up the account. From your video, I just noticed that SGD is to be transferred to SG bank account. Also subscribed to your channel. Hilarious closing btw hahaha 07:44
Hi Zeit! I have 3 questions and I will be very thankful for your help. 1. Does it mean that everytime we want to fund our IBKR account we have to go to the bank or is it there other solution? 2. Is wire transfer the same as swift? 3. In my country the deposit fee fore one swift transfer is between €30-70. I would say that's way too much (+ those $15 taken by the JPMorgan bank) so I don't know what to do. Many many thanks for what you've been doing and being so nice with all of us!
Hi Nadia, 1. No need go to the bank, but for FTT yes you need to login to your bank portal to perform the transfer to IBKR 2. Technically yes, they are referring to the same thing, usually sending currency A from country A (from Bank A) to obtain currency B from country B in Bank B. But in your case, you can perform local wire transfer, from a € bank to IBKR's € bank account, should be free if not with very minimal charge (im not sure about euro banks' fees) 3. You can do as per point 2, or refer this video for alternative: th-cam.com/video/dJYzHEnBhJs/w-d-xo.html Let me know if this helps! Feel free to DM me on instagram ;)
Hi@@ZietInvests, I am going to use Wise transfers in the future but now I decided to fund my IBKR account through Swift/Sepa transfer. My question is: Can I first go to the bank and make the transfer and after that notify IBKR? The thing is I still don't have a bank account number which I saw is required to be indicated in the IBKR notification. Many many thanks to you!
Hello Ziet, I'm just now getting into this. Love your videos and you're very helpful. Quick question, on your video you choose US dollar, but I'm from Canada and I can see my country as an option. Do you think I should still choose US or go with my own currency?
Hi Ziet, thanks for the video, it's really helpful! I believe that you previously say to dollar cost average for the US stock market, would love to hear your elaboration on this. Since US stocks are quite expensive, not sure how one can dollar cost average it. Perhaps a dollar cost average video for us newbies out there would be helpful! Cheers Ziet! Keep up the good work! Context: I live in Malaysia.
hey ziet, thanks for the video! i did my FTT in the morning, and got funded into my IBKR account in the afternoon on the same day. Less than 4hours, very fast! but the surcharges, fees etc is pretty high, almost a killer T.T
Wow that is really fast haha, though yes, FTT is very costly hence why the better alternative would be MYR > CIMB SG > IBKR SGD > IBKR USD. Anyways, glad to hear everything went well!
@@evelyny4310 The exact numbers will vary according to your transfer value. The 2 fees associated would be: 1) Wise fee for MYR to SGD (about RM 50 for RM 5,000 transfer) 2) 2 USD conversion fee inside IBKR for SGD to USD. Other than that there's no other fee.
Hello again Ziet ! I have a question for you, is it possible to get funds wired to my IBKR account from a 3rd party direct account? Or does the 3rd party has to wire me first then I have to make the wire from my own account? Thank you so much in advance for your kind help and looking forward to seeing your new video.
Hi John, that is not possible, you need to fund your IBKR account with a bank account that has the same owner name (means yourself), else IBKR has the right to reject your funding. Hope this helps!
Hi Haron, I've only tried using Maybank to FTT into IBKR (USD) once (as shown in this video. I wanted to try FTT via CIMB to IBKR but the steps are a little bit harder because there are more items to fill inside CIMB MY. Nonetheless, I will always recommend funding IBKR using this method: th-cam.com/video/_4KJY8MVC5g/w-d-xo.html
@@ZietInvests Hi Ziet, thanks and appreciate the prompt response. You've earned your new subscribers :) Anyway, I want to trade options with IBKR. I have open up the account using your link. How to get permission to trade options and get real live OPRA Data in IBKR? Is there any fees ( I used Saxo and they charged me 7 USD monthly for opra data live options). How about IBKR?
if I am going to purchase US stocks and I have USD account, would it not be cheaper to send direct to JP Morgan USD instead of sending SGD to IKBR and have them convert to USD?
Hi Ziet! Very great and informative video, I'm from Cambodia and by transferring SGD into interactive brokers, do they not charge the deposit fee (15$ one)? Thanks !
Hi, as long as you deposit SGD into their SGD balance, that will be considered as local fund transfer hence no deposit fee will be charged by your bank
Hi Ziet, really like your video content and your explanation in each video. I'd like to ask you a question. I'd like to get low fee to fund into IBKR. If my local bank is in USD I should do bank wire transfer to IBKR's bank or should open the SGD account to fund? Thanks in advance.
Hi, if you have a USD bank account, you can just local transfer/ACH into IBKR's USD account (double check, should be JP Morgan Chase Bank, N.A.). No need to setup any other account for that 😊
Hi Ziet.. Thank you for the video.. Super easy to understand. If we have USD in IBKR, can we buy other currency stocks or we have to transfer according to that currency? Hope to hear from you. Tq
Hi Ziet, it look more easy using Maybank as compared with PB. PB is very strict, need to do it manually and not computer. Is that any consequences to choose "service" as there is another option "share investment oversea" available.
Hi CKS, i've seen someone else's PBB UI and i must say i fully agree with you 😂 I believe the transaction purpose option is limited, so its totally fine, not much of an issue
Hello. Thanks for the advice. I just deposited money into IBKR. However, IBKR gave me less than what I have deposited. I deposited USD500 but only got USD475. What is the USD25 for?
Hi Victor, if you use foreign telegraphic transfer, it will charge 25 USD by agent bank, hence why its better to fund it via Wise, can refer this updated video: th-cam.com/video/8YeDT2ol1K0/w-d-xo.html
Hi Ignacio, yes, need to convert my SGD to USD to buy US securities. Likewise for other securities, you need to have currency in that respective currency
Thank you so much Zeit for above wonderful video...... I have CIMB S'pore acc but how to transfer money to S'pore Interactive Broker acc ? Then how to transfer money from S'pore Interactive Broker to IBKR US acc ? Thanks in advance and continue with wonderful financial informative videos in future.....
Hi Kurian, you can follow this IG guide to transfer from CIMB SG to IBKR SG acc: instagram.com/p/CL27ThUniqD/ Once you transferred that SGD into IBKR, you can convert SGD to USD in a click, can refer this tutorial: th-cam.com/video/v0pRujcCjXU/w-d-xo.html
What if the account number provided by IBKR contains a letter in the middle and Revolut (my bank) doesn't accept letters in the account nr when you want to create a recipient? I am talking about transfering USD. Thanks in advance!
Hi Ecaterina, I believe you can remove that letter in the middle "U" and proceed - can read the footnote of IBKR transfer instruction, they mentioned about this. Similarly, can refer this video where the funding steps involve the IBKR transfer instruction and I touched on this point: th-cam.com/video/dJYzHEnBhJs/w-d-xo.html
hey zeit thank you for your video. Im from Istanbul I tried to deposit some fund to my IB account . Itried to send from phone application .There is transfer through swift . I entered all the necessary information . My bank asks wether fees are on me or on the reciever . 2- there is no option to write addition information that it my interaction broker account . any insights ? thanks
Hi there, you wont see it being mentioned because it is a SWIFT fee charged by local banks for transferring to USD for you, not everyone goes into that depth, and also it might not apply to certain countries (not sure why). It ultimately depends on where you are from as well. Hope this clarifies!
Hey Ziet, thanks for the informative video. If I initiate a transfer from a foreign bank to Interactive brokers, do I need to account for the wire fee charged by JP Morgan in my transfer amount from my local bank? In other words, if I initiate a wire deposit for $1000 into my IB account, do I need to send $1015 from my local bank to avoid the transfer being declined?
Thank you for your video. May I ask is that any different between Interactive Broker SG and Interactive Broker US? You mentioned that no charge from CIMB SG to Interactive Broker SG?
I just noticed that my IBKR account is US. When I transfer fund from CIMB SG to IBKR US there is quite a lot of transition fee. Then I saw your video mentioned that there are no fee from CIMB SG to IBKR SG
No diff, all Malaysians will be under IBKR US. It doesnt affect your funding currency yeah. You can still transfer CIMB SG to IBKR’s SGD account (regardless of IBKR US or IBKR SG)
@@ZietInvests Thanks for your reply. In your video, you mention that no charge from CIMB SG to Interactive broker US I did the same things yesterday. There is commission (SGD10) and cable fee(SGD 30)
Hi, I think i've replied you on instagram DM, this TAC is a verification process for Malaysian banks, it might differ for other countries. Hope this helps!
Hi Ziet, thanks for the helpful video. would you mind to explain how to do withdrawal from IB to CIMB SG? i opened a cimb SG account and funded my IB according to ur tutorial. or can i withdraw directly to CIMB MY via bank wire?
Hi Jia Xin, best to withdraw SGD to CIMB SG first, then only send it back to Malaysia, to avoid direct conversion from IBKR (US) to CIMB MY (MYR) which is considered foreign TT - lots of forex losses incurred when it reaches CIMB MY bank. Check out this video for the withdrawal steps: th-cam.com/video/6TJcJuvnP5c/w-d-xo.html Hope this helps!
Hi, short answer is no need, Malaysians wont be charged any capital gain tax whenever we sell any US domiciled stocks. However, any dividends paid by US domiciled companies to us will be withheld 30% (means we only receive 70%). On Malaysia side, this is a little bit tricky. As far as im aware, LHDN do not regulate our foreign investments (unless trading is your main income source). However, as a best practice, do keep all your transaction slips/receipts incase LHDN decide to probe you. Also, withdrawing a huge some of money (say RM 100k) back into Malaysia will be slightly tricky (banks may investigate, LHDN may probe). Best to consult a financial adviser to do that. Small amounts (RM 5 to 10k) so far no issues. Disclaimer: I am not a qualified tax professional, best to ask one to get the most accurate answer! Hope this helps
Hi Alvin, possible but not advisable, due to high chance of rejection/fund being withhold. Totally would not recommend anyone to do this unless really desperate! Better to deposit from a bank account under your name.
Hi Ziet, I’ve open CIMB Singapore account followed your guidelines.Your video help a lot! May I know can I just transfer money from local cimb in ringgit to sgd in cimb sg without going through wise?
Thanks a lot for this very informative video! :) I have a small doubt though. Do I understand correctly that I have the flexibility to change the source of my funding i.e. change from one local bank to another as long as it's under my name? I want to start investing soon with my Maybank account but the thing is I might need to close it later and use my bank account from another country. If so, would I have the same flexibility as well when withdrawing? Kindly advise. Thank you!
Hi Ara, that is correct, you can fund from any bank account as long as it has the same owner name as the IBKR account - same goes to withdrawal! Hope this clarifies!
Hi Ziet, i just deposited a sum of money into IBKR, but it says 'we are awaiting receipt of your funds.' May i know how to send receipt to IBKR to prove the transfer? Sorry for the stupid questions as im new to investment. Thanks Guru!
Hi Jenn Tee, did you open under TSG-IBKR or IBKR (direct)? 1. If TSG-IBKR, then email to globalsupport@tradestation-international.com 2. If IBKR, then you need to be patient, can try to email them but usually they are slow to reply
Hi, May I know have you solve this issue? cause I do have the same question with you today. I just did my transfer this morning. Just Wondering how long have you wait using IBKR(direct)
Hi, they won't check the balance of your local bank balance for the brokerage account application, they only need it to verify your residential address
Hi Dennis, I'm afraid I've never traded futures before, but for more info you can read here: www.interactivebrokers.com.hk/en/index.php?f=43700&wid=757680228 If you are wondering whether my TSG-IBKR is the same as IBKR, then yes, TSG-IBKR offers practically the same markets that IBKR offers. Hope this helps!
Hi Courtney, it won't. You still have to manually convert your GBP cash into USD to be able to buy US stocks. Note that each conversion costs 2 USD yea, let me know if this helps!
Not in my experience, this transfer was pretty smooth and seamless. Records from my viewers that told me their FTT experience was pretty good, IBKR received the fund pretty much within 12 hours.
Hi there, CIMB SGD to IBKR SGD is a local transfer between 2 singaporean banks, nothing to do with Malaysia Local Bank. From Malaysia bank to CIMB SG, you can transfer it via Wise (TransferWise): th-cam.com/video/QqbPJPufZJ8/w-d-xo.html
Hey Johari, you can check out the new direct IBKR- Wise funding instead. It's much easier than FTT! Here's the tutorial for it: th-cam.com/video/8YeDT2ol1K0/w-d-xo.html
I'm seeing a 1% fee on a wire transfer with a minimum of $50. Pretty steep for a new investor. Better deposit a minimum of $5000 US or you're losing more than 1% right of the start + fees for ever taking the money back out. Is there any way to do this without getting f###'d?
Hi David, that could be the case yes depending on your country's bank, but for most banks, FTT is that expensive! Alternatively, I would recommend you Wise ACH transfer, refer this video: th-cam.com/video/dJYzHEnBhJs/w-d-xo.html
Hi, I have transferred some fund from maybank to Interactive broker but I did not put in the additional info which contain my interaction broker account no. What shall I do ? How do I contact them or how do I send in the payment receipt ?
Hi Abdullah, you can read the excerpt below IBKR's transfer instruction, i believe they did mention you can omit the letter if your bank does not accept the letter in the middle! :)
Hi Ziet, I have opened an Interactive Brokers account from Germany and saw this video. I did not know I would need to pay such a high fee just for depositing money into my account. 15 dollars if I am investing every month 100 dollars is already a 15% loss of my capital. How is this a good idea? Could you please clarify this for me? I am new to investing in the stock market and thought fees for this would be lower. Should I consider a German broker then? Maybe then I do not have to pay such a high fee to transfer money to the US
Hi Jose, that is in the context of depositing USD yeah, for germans i believe you can deposit Euro instead for free! (Double check on IBKR website because they can accept 24 different currencies)
I used to do this, but now it's easier (assuming you are Malaysian) to fund with Wise, you can find it with this link th-cam.com/video/8YeDT2ol1K0/w-d-xo.htmlfeature=shared
Hi Jo Lynn, IBKR has a JPY bank account so you can actually local transfer your JPY into their JPY account. Inside IBKR > Deposit > drop down menu change USD to JPY and you can set up a similar transfer instruction. Feel free to DM me on instagram if you need any further help 😊
Hi Matyi, may I know what currency are you depositing? If you are depositing USD via Foreign Telegraphic Transfer, it is normal to be charged 25 USD by their corresponding US banks, not by IBKR. Otherwise, you may want to try funding your IBKR account with Wise: th-cam.com/video/dJYzHEnBhJs/w-d-xo.html
Hi Mike, that depends where you are sending to, for US you will definitely need Routing Number (as far as I know) - can try asking the customer support though Otherwise, try this method: th-cam.com/video/dJYzHEnBhJs/w-d-xo.html
@@ZietInvests Tks Ziet.. Tried several time from Maybank2U, last click CONFIRMATION keeps hanging.. Your Wise and CIMB Sing method still the best.. FUnd reached IB within an hour. Tks, your video very helpful.
HI Ziet, thank you for the video. Its helpful. May i ask if any charges by transferring fund from CIMB MY to CIMB SG since both account are linked. Referring to your video, your guide is transfer MYR to SGD via transferwise. Kindly advise. Thank you
Hi Lois, if you are transferring internally from CIMB MY to CIMB SG, I believe there is no fees because CIMB has already bundled them under the conversion rate (shadow fees that you would not realise) Using TransferWise (Wise), the rates are better there but it is offset by the minor fee incurred. All in all the difference between them is pretty marginal, I am used to using Wise but that said, there's nothing to lose if you choose to transfer using CIMB Clicks MY internal transfer too.
Hi Ziet! Would love to have your opinion on the following matter - I am from Israel, thus all my money is in ILS currency. If I intend to deposit a fund into my IBKR account to trade US stocks, would it be cheaper to deposit the money in ILS to the IBKR account and then request an exchange from ILS to USD? Would that save me some of the fees you mentioned in the video? Thanks!
Hi Avitay, yes, if ILS is one of the support currency by IBKR, why not! You can convert to USD later in it, this should be the most cost effective way!
Hi, I will never recommend one to use TransferWise (Wise) into IBKR directly from Malaysia, reason being there may be complication down the road (fund being withhold, fund being investigated etc.) for which some forumers have faced. Best way to fund IBKR as a Malaysian is through Wise > CIMB SG > IBKR (SGD). FTT is another pricier alternative but can equally get the job done, regardless first time or not, IBKR doesnt care what method you fund your account with as long as they got the money from your name.
Hi Ziet, Now that we have a CIMB Sg account, can you show us how to fund TD Ameritrade (in Sg$) from this account as most Malaysians don't have a DBS or POSB account. Sorry to ask, but I find TD Ameritrade is a horror to deal with
Hi Raymond, i feel the same too which is why i didnt use TDA 😂 that said, TDA only accepts SGD funding from DBS and POSB bank, not from cimb bank though
When i tried to deposit money from my maybank to IBKR it says i need to pay agent fee of RM143 which is quite a lot. is this normal for funding through maybank?
Hi ziet.very informative video.tq.i want to ask u, I already have IBKR account with maybank FTT as my funding source, and im the middle in doing CIMB singapore account, and i want to ask u, if my CIMB singapore account is ready, how i want to register it in IBKR?I plan to shift from maybank FTT to cimb singapore...
Hi pat, if going through the CIMB SG method, you will be charged 1. TransferWise transfer fee (roughly RM 30 for RM 3,000 transfer) with conversion at spot rate 2. Currency conversion fee inside IBKR (USD 2) at spot rate
Hi Khairil, I'm afraid the system (Maybank) won't let you proceed to fill in the details after 6pm. You can try do that during lunch hour, or take a day off :x Or, you can try contacting your bank and see if they can help you schedule a FTT transfer
Hmm so Ibkr has their own IBKR singapore account. Why isnt there an option to transferwise straight to that IBKR singapore account? I know tiger broker has this option
Yes, you can do that and in fact i am doing that! This video is about foreign telegraphic transfer for which is applicable to people from countries with no support to Wise or just want to use FTT from their bank directly
Hi Yong Xiang, that is most likely charged by malaysian bank's US correspondent bank. What happens is, when you FTT from MYR, it goes to say Maybank's US correspondent (Citibank), before it transits to JPMorgan, so I believe that cut is eaten by Citibank. However you can always check with Maybank on this. IBKR doesn't charge deposit fee, though you can check with them whether JP Morgan charges any intermediary fee.
🔴Learn more about Interactive Brokers: www.interactivebrokers.com/mkt/?src=zietPY2&url=%2Fen%2Fwhyib%2Foverview.php%3Fnored%3Dt
By just clicking the above link, you will be able to support my channel without any cost to you! Thank you so much!
I will update here from time to time if there's any changes to the USD receiving bank for IBKR.
Kindly double check before you perform any foreign telegraphic transfer (any misinformation will cause delay/withholding of funds!)
Hope this helps! 😊
what about the ACH option how to use it?
Sir can I ask your Help , I can’t send Fund on my new dollar account 😢😢😢i’m asking your Help
Finally have found a youtuber in Malaysia are teaching how do use this platform. Thanks for sharing.
Hehe so glad it helped you in your journey! All the best 😊
With your video guidelines ❤️ I’ve opened interactive broker account a year ago, invested 30k USD and regularly watching, supporting by likes/commenting your posts.
I’m taking this opportunity to thank you - love from singapore-indian 🇸🇬 🇮🇳
So happy to know that! 😄
Please give me some suggestions how I can opened account
Finally! This is the video I have been waiting for a long long time.
Thank you so much, Ziet!
Everyone should give him a thumbs up and subscribe
That ending tho! HAHAHAHA
Haha I'm glad you caught the ending 😝
Hello Ziet. I have done my first ever foreign TT to IBKR following your method today! Thanks for the advice man!
Awesome! So glad to hear that Hanafi! All the best 😊
thank you! this helped me setting up the account. From your video, I just noticed that SGD is to be transferred to SG bank account. Also subscribed to your channel.
Hilarious closing btw hahaha 07:44
🤣🤣🤣🤣 thank you hehe
The video i have been waiting for,thank you,keep the good work going👍👍
Glad it was helpful! Cheers!
Hi Zeit! I have 3 questions and I will be very thankful for your help.
1. Does it mean that everytime we want to fund our IBKR account we have to go to the bank or is it there other solution?
2. Is wire transfer the same as swift?
3. In my country the deposit fee fore one swift transfer is between €30-70. I would say that's way too much (+ those $15 taken by the JPMorgan bank) so I don't know what to do.
Many many thanks for what you've been doing and being so nice with all of us!
Hi Nadia,
1. No need go to the bank, but for FTT yes you need to login to your bank portal to perform the transfer to IBKR
2. Technically yes, they are referring to the same thing, usually sending currency A from country A (from Bank A) to obtain currency B from country B in Bank B. But in your case, you can perform local wire transfer, from a € bank to IBKR's € bank account, should be free if not with very minimal charge (im not sure about euro banks' fees)
3. You can do as per point 2, or refer this video for alternative: th-cam.com/video/dJYzHEnBhJs/w-d-xo.html
Let me know if this helps! Feel free to DM me on instagram ;)
Hi@@ZietInvests,
I am going to use Wise transfers in the future but now I decided to fund my IBKR account through Swift/Sepa transfer. My question is: Can I first go to the bank and make the transfer and after that notify IBKR? The thing is I still don't have a bank account number which I saw is required to be indicated in the IBKR notification.
Many many thanks to you!
Very nice..simple & to the point. Sure interested to watch your other videos..
Thank you Saurabh, glad you liked them!
Hello Ziet, I'm just now getting into this. Love your videos and you're very helpful.
Quick question, on your video you choose US dollar, but I'm from Canada and I can see my country as an option. Do you think I should still choose US or go with my own currency?
Hi Ziet, thanks for the video, it's really helpful! I believe that you previously say to dollar cost average for the US stock market, would love to hear your elaboration on this. Since US stocks are quite expensive, not sure how one can dollar cost average it. Perhaps a dollar cost average video for us newbies out there would be helpful! Cheers Ziet! Keep up the good work!
Context: I live in Malaysia.
Hi Ricketts, this is great suggestion, and thank you for that! Will definitely put it into my consideration list!
hey ziet, thanks for the video! i did my FTT in the morning, and got funded into my IBKR account in the afternoon on the same day. Less than 4hours, very fast! but the surcharges, fees etc is pretty high, almost a killer T.T
Wow that is really fast haha, though yes, FTT is very costly hence why the better alternative would be MYR > CIMB SG > IBKR SGD > IBKR USD.
Anyways, glad to hear everything went well!
@@ZietInvests May I know whats the charges like if using this pathway CIMB MYR > CIMB SG > IBKR SGD > IBKR USD. Thanks Ziet.
@@evelyny4310 The exact numbers will vary according to your transfer value.
The 2 fees associated would be:
1) Wise fee for MYR to SGD (about RM 50 for RM 5,000 transfer)
2) 2 USD conversion fee inside IBKR for SGD to USD.
Other than that there's no other fee.
I needed this ! thanks so much.
Woo glad it helped!!!
Wow! Thanks for the guide, you’re a lifesaver
Hehe glad it helped! Thanks for watching!
Hello again Ziet ! I have a question for you, is it possible to get funds wired to my IBKR account from a 3rd party direct account? Or does the 3rd party has to wire me first then I have to make the wire from my own account? Thank you so much in advance for your kind help and looking forward to seeing your new video.
Hi John, that is not possible, you need to fund your IBKR account with a bank account that has the same owner name (means yourself), else IBKR has the right to reject your funding. Hope this helps!
@@ZietInvests sooo many thanks
@@cambelljohn4577 Cheers!
Hi Ziet, thanks for your video. comparing cimb and maybank, which one is more cheaper for the transfer and faster? Thanks!
Hi Haron, I've only tried using Maybank to FTT into IBKR (USD) once (as shown in this video.
I wanted to try FTT via CIMB to IBKR but the steps are a little bit harder because there are more items to fill inside CIMB MY.
Nonetheless, I will always recommend funding IBKR using this method: th-cam.com/video/_4KJY8MVC5g/w-d-xo.html
@@ZietInvests Hi Ziet, thanks and appreciate the prompt response. You've earned your new subscribers :) Anyway, I want to trade options with IBKR. I have open up the account using your link. How to get permission to trade options and get real live OPRA Data in IBKR? Is there any fees ( I used Saxo and they charged me 7 USD monthly for opra data live options). How about IBKR?
Good job mate..really love it...
What about eToro if compared with opening a CIMB Sg account? What's the advantage of each? Which is better?
It doesnt work for etoro, i believe they dont have a singapore bank account
Great videos!! Thank you for the continuous sharing.
Thank you so much for your kind words, I'm glad you find this helpful! Will keep posting more and better content!😊
How much do you start off with when it's first time for stocks shares etc. Bejng a complete newbie Lynne
I need this, thank you so much
I check now they change to Citibank, doesn’t see JP Morgan
You're so welcome!
Hi, thanks for all your videos. Very helpfull.
Glad you liked it 😊😎
You saved my dayyyyyyyyyyyyyyyyyyyyyyyyyyy... Thank you so much
No problemos ~!
Great. You made it very easy. Thank you.
Cheers brother!
Thanks,Ziet.Thumbs up!
Thanks Sean!
if I am going to purchase US stocks and I have USD account, would it not be cheaper to send direct to JP Morgan USD instead of sending SGD to IKBR and have them convert to USD?
The bloopers at the end! hahaha
😂😂😂
Hi Ziet! Very great and informative video, I'm from Cambodia and by transferring SGD into interactive brokers, do they not charge the deposit fee (15$ one)? Thanks !
Hi, as long as you deposit SGD into their SGD balance, that will be considered as local fund transfer hence no deposit fee will be charged by your bank
Hi thank you for your video, it helped a lot
good video to Interactive brokers!
Thanks jimmy!
Hello, first of all, thanks for the content you provide
But I have a query.
The bank I use asks me for an IBAN, what should I do
Hi there, IBAN is usually for Euro banks - you should be able to obtain it from IBKR when you choose to deposit euro right?
thank you you always help me a lot!
You're welcome my friend! Have a great weekend!
Hi Ziet, really like your video content and your explanation in each video. I'd like to ask you a question. I'd like to get low fee to fund into IBKR. If my local bank is in USD I should do bank wire transfer to IBKR's bank or should open the SGD account to fund? Thanks in advance.
USD will do. You save on currency conversion.
Hi, if you have a USD bank account, you can just local transfer/ACH into IBKR's USD account (double check, should be JP Morgan Chase Bank, N.A.). No need to setup any other account for that 😊
@@donindiana8504 ah I see, thank you.
@@ZietInvestsunderstand it. Thank you. ☺️
Hi Ziet.. Thank you for the video.. Super easy to understand. If we have USD in IBKR, can we buy other currency stocks or we have to transfer according to that currency? Hope to hear from you. Tq
Hi Kogi Raj, you can simply convert from USD to say GBP in a click of a button (manually) before you can trade that UK stock. Hope this helps!
Hi Ziet, it look more easy using Maybank as compared with PB. PB is very strict, need to do it manually and not computer. Is that any consequences to choose "service" as there is another option "share investment oversea" available.
Hi CKS, i've seen someone else's PBB UI and i must say i fully agree with you 😂 I believe the transaction purpose option is limited, so its totally fine, not much of an issue
Hi Ziet, At 6:36 to transfer from CIMB SG to Interactive Broker SG then follow by Interactive Broker USD. Can you share the steps too. Thanks.
Hi WC, the steps are here in this video: th-cam.com/video/_4KJY8MVC5g/w-d-xo.html
Hope this helps!
Thanks for the great video.
You are welcome 😊
can i deposite from korea bank local acc.which one is comfortable simple acc or saving acc?
Hello. Thanks for the advice. I just deposited money into IBKR. However, IBKR gave me less than what I have deposited. I deposited USD500 but only got USD475. What is the USD25 for?
Hi Victor, if you use foreign telegraphic transfer, it will charge 25 USD by agent bank, hence why its better to fund it via Wise, can refer this updated video: th-cam.com/video/8YeDT2ol1K0/w-d-xo.html
@@ZietInvests Thank you very much
Hey Ziet, do you need to transfer from your currency to USD to buy U.S securities? Or you can buy with your currency? Like Euro.
Hi Ignacio, yes, need to convert my SGD to USD to buy US securities.
Likewise for other securities, you need to have currency in that respective currency
@@ZietInvestsThank you again. Yeah i didn't realized that. You can do it in the IBKR mobile app.
Thank you so much Zeit for above wonderful video......
I have CIMB S'pore acc but how to transfer money to S'pore Interactive Broker acc ?
Then how to transfer money from S'pore Interactive Broker to IBKR US acc ?
Thanks in advance and continue with wonderful financial informative videos in future.....
Hi Kurian, you can follow this IG guide to transfer from CIMB SG to IBKR SG acc: instagram.com/p/CL27ThUniqD/
Once you transferred that SGD into IBKR, you can convert SGD to USD in a click, can refer this tutorial: th-cam.com/video/v0pRujcCjXU/w-d-xo.html
What if the account number provided by IBKR contains a letter in the middle and Revolut (my bank) doesn't accept letters in the account nr when you want to create a recipient? I am talking about transfering USD.
Thanks in advance!
Hi Ecaterina, I believe you can remove that letter in the middle "U" and proceed - can read the footnote of IBKR transfer instruction, they mentioned about this.
Similarly, can refer this video where the funding steps involve the IBKR transfer instruction and I touched on this point: th-cam.com/video/dJYzHEnBhJs/w-d-xo.html
hey zeit thank you for your video. Im from Istanbul I tried to deposit some fund to my IB account . Itried to send from phone application .There is transfer through swift . I entered all the necessary information . My bank asks wether fees are on me or on the reciever . 2- there is no option to write addition information that it my interaction broker account . any insights ? thanks
Hi Ziet! Those 15-25 USD are for everyone that transfer money there from anywhere? Haven't seen it mentioned from other people.
Hi there, you wont see it being mentioned because it is a SWIFT fee charged by local banks for transferring to USD for you, not everyone goes into that depth, and also it might not apply to certain countries (not sure why). It ultimately depends on where you are from as well. Hope this clarifies!
@@ZietInvests I live in Greece and the deposit will go to JP Morgan of Germany as EUR..Do you think that the fee will be applied?
Hey Ziet, thanks for the informative video. If I initiate a transfer from a foreign bank to Interactive brokers, do I need to account for the wire fee charged by JP Morgan in my transfer amount from my local bank? In other words, if I initiate a wire deposit for $1000 into my IB account, do I need to send $1015 from my local bank to avoid the transfer being declined?
Hi Dylan, the transfer won't be declined, so you can just transfer $1,000 into IB, it will be auto deducted by JP Morgan before reaching IB :)
@@ZietInvests Thanks! Appreciate the help.
@@dylansoal3214 cheers!
Very very useful and accurate review!!That's what I needed god bless!
Glad to hear that! All the best man!
Thank you for your video. May I ask is that any different between Interactive Broker SG and Interactive Broker US? You mentioned that no charge from CIMB SG to Interactive Broker SG?
I just noticed that my IBKR account is US. When I transfer fund from CIMB SG to IBKR US there is quite a lot of transition fee. Then I saw your video mentioned that there are no fee from CIMB SG to IBKR SG
No diff, all Malaysians will be under IBKR US. It doesnt affect your funding currency yeah.
You can still transfer CIMB SG to IBKR’s SGD account (regardless of IBKR US or IBKR SG)
@@ZietInvests Thanks for your reply. In your video, you mention that no charge from CIMB SG to Interactive broker US I did the same things yesterday. There is commission (SGD10) and cable fee(SGD 30)
@@ZietInvests Is that my setting wrong?
Thanks for the useful video. However, Interactive Brokers now work with CITIBANK instead of JP Morgan so all the details changed.
Certain people saw citibank while some saw JP Morgan...hm....but thank you so much for your feedback, always helpful!
Hey can u pls tell me abt the sms tac? Didn’t understand should we put like our phone number or what? And is it only in ur Malaysian bank? Thanks
Hi, I think i've replied you on instagram DM, this TAC is a verification process for Malaysian banks, it might differ for other countries. Hope this helps!
Hi Ziet, thanks for the helpful video. would you mind to explain how to do withdrawal from IB to CIMB SG? i opened a cimb SG account and funded my IB according to ur tutorial. or can i withdraw directly to CIMB MY via bank wire?
Hi Jia Xin, best to withdraw SGD to CIMB SG first, then only send it back to Malaysia, to avoid direct conversion from IBKR (US) to CIMB MY (MYR) which is considered foreign TT - lots of forex losses incurred when it reaches CIMB MY bank.
Check out this video for the withdrawal steps: th-cam.com/video/6TJcJuvnP5c/w-d-xo.html
Hope this helps!
@@ZietInvests thanks for the tips! cheers!
Can u advice about taxes for malaysian trading ibkr in the US? Do we need to fill up any forms or submit any documents for US tax.
Hi, short answer is no need, Malaysians wont be charged any capital gain tax whenever we sell any US domiciled stocks. However, any dividends paid by US domiciled companies to us will be withheld 30% (means we only receive 70%).
On Malaysia side, this is a little bit tricky. As far as im aware, LHDN do not regulate our foreign investments (unless trading is your main income source). However, as a best practice, do keep all your transaction slips/receipts incase LHDN decide to probe you.
Also, withdrawing a huge some of money (say RM 100k) back into Malaysia will be slightly tricky (banks may investigate, LHDN may probe). Best to consult a financial adviser to do that. Small amounts (RM 5 to 10k) so far no issues.
Disclaimer: I am not a qualified tax professional, best to ask one to get the most accurate answer!
Hope this helps
Hey Ziet, will it be possible to use transfer wise to deposit fund in IB without setting up a CIMB bank account?
Hi Alvin, possible but not advisable, due to high chance of rejection/fund being withhold. Totally would not recommend anyone to do this unless really desperate! Better to deposit from a bank account under your name.
Last part cracked me up
😂😂😂glad you noticed it hahaha
Hi Ziet, I’ve open CIMB Singapore account followed your guidelines.Your video help a lot! May I know can I just transfer money from local cimb in ringgit to sgd in cimb sg without going through wise?
Hi Max, yes you can do that, just login CIMB Clicks Malaysia and perform internal transfer MYR to your new FastSavers (SA) account in SGD.
@@ZietInvests Thanks a lot!
@@Max-li6cm welcome!
Thanks a lot for this very informative video! :)
I have a small doubt though. Do I understand correctly that I have the flexibility to change the source of my funding i.e. change from one local bank to another as long as it's under my name? I want to start investing soon with my Maybank account but the thing is I might need to close it later and use my bank account from another country. If so, would I have the same flexibility as well when withdrawing?
Kindly advise. Thank you!
Hi Ara, that is correct, you can fund from any bank account as long as it has the same owner name as the IBKR account - same goes to withdrawal!
Hope this clarifies!
Hi Ziet, i just deposited a sum of money into IBKR, but it says 'we are awaiting receipt of your funds.' May i know how to send receipt to IBKR to prove the transfer? Sorry for the stupid questions as im new to investment. Thanks Guru!
Hi Jenn Tee, did you open under TSG-IBKR or IBKR (direct)?
1. If TSG-IBKR, then email to globalsupport@tradestation-international.com
2. If IBKR, then you need to be patient, can try to email them but usually they are slow to reply
Hi, May I know have you solve this issue? cause I do have the same question with you today. I just did my transfer this morning. Just Wondering how long have you wait using IBKR(direct)
Hi Ziet, can you please update this video as the deposit is no longer the same.
What is the minimum local bank balance amount needed,So as to avoid rejection while submitting the bank statement as residential address?
Hi, they won't check the balance of your local bank balance for the brokerage account application, they only need it to verify your residential address
@@ZietInvests:Ooh, Okay, I'm now at peace...thank you
Hi, for the interactive broker account that you open, can it trade Global CME futures? or is it just stocks?
Hi Dennis, I'm afraid I've never traded futures before, but for more info you can read here: www.interactivebrokers.com.hk/en/index.php?f=43700&wid=757680228
If you are wondering whether my TSG-IBKR is the same as IBKR, then yes, TSG-IBKR offers practically the same markets that IBKR offers.
Hope this helps!
Hi Ziet. Thank you for a cool videos. What if put Interactive Brokers LLC and IB address instead of JPMorgan. Is that critical?
Hi Volodymyr...hmm...if they reject the funds you will get it back, so I'm not sure how they will respond :x
Hi Ziet, how can we transfer from CIMB SG to IBKR SG? using local transfer?
Hi Queza, yes local FAST transfer to Other Bank account. You can follow this guide here, should have everything you need: instagram.com/p/CL27ThUniqD/
When you select USD but the funds in your account are not (I am from the UK) will the funds be automatically converted?
Hi Courtney, it won't. You still have to manually convert your GBP cash into USD to be able to buy US stocks. Note that each conversion costs 2 USD yea, let me know if this helps!
Thanks for sharing
My pleasure!
@ZietInvests can you recommend etf under 100 dollars?
Bro, do a video on how to buy dogecoin in malaysia. Which broker or wallet to use! And so on!
Haha will definitely look into that! Thank you for your suggestion!
Always I thought local banks create trouble for those looking to fund IBKR? Or was that history now. They used to block IBKR transactions.
Not in my experience, this transfer was pretty smooth and seamless. Records from my viewers that told me their FTT experience was pretty good, IBKR received the fund pretty much within 12 hours.
Hi Ziet, may I know if I transfer money from CIMB SGD account to IBKR SGD account then I can save up some incurred fee charge by Malaysia Local Bank?
Hi there, CIMB SGD to IBKR SGD is a local transfer between 2 singaporean banks, nothing to do with Malaysia Local Bank.
From Malaysia bank to CIMB SG, you can transfer it via Wise (TransferWise): th-cam.com/video/QqbPJPufZJ8/w-d-xo.html
my bank is charging around 48 dollars for a single transfer , do you have any other suggestions other than chaninging banks ?
Hey Kristinn, check out this funding method via Wise: th-cam.com/video/rV5mKcvwGOA/w-d-xo.html
HI Ziet! I'm in Australia, Can i use my own currency to trade in since my currency symbol is available? OR is it cheaper to go via the USD route?
Hi Matthew, yes you can! Just local transfer AUD into IBKR's AUD bank account will do!
can i transfer money from another bank account under different name of my IBKR account?
Hi Ziet, what if my OCBC bank already has JP Morgan as 1 of the bank to transfer, it doesn't show Transfer To : Overseas or select country etc.
Hey Johari, you can check out the new direct IBKR- Wise funding instead. It's much easier than FTT!
Here's the tutorial for it: th-cam.com/video/8YeDT2ol1K0/w-d-xo.html
How do I open interactive account from Vietnam if I am a resident of Vietnam?
Hi Huy Nguyen, you can follow this video: th-cam.com/video/f__HgJRe3nU/w-d-xo.html
I'm seeing a 1% fee on a wire transfer with a minimum of $50. Pretty steep for a new investor. Better deposit a minimum of $5000 US or you're losing more than 1% right of the start + fees for ever taking the money back out. Is there any way to do this without getting f###'d?
Hi David, that could be the case yes depending on your country's bank, but for most banks, FTT is that expensive!
Alternatively, I would recommend you Wise ACH transfer, refer this video: th-cam.com/video/dJYzHEnBhJs/w-d-xo.html
Hi, I have transferred some fund from maybank to Interactive broker but I did not put in the additional info which contain my interaction broker account no. What shall I do ? How do I contact them or how do I send in the payment receipt ?
Hi, you can wait for your fund to be rejected, or send support ticket to IBKR via their website or through live chat
Hi Ziet, do you have any video how to withdraw money from IBKR to MYR in lowest transaction fee?
Hi Sarindran, I am posting that video next Friday (30th April)! If you are in a rush, you can pm me on Instagram to help you further. Cheers!
@@ZietInvests Thank you.. not rush.. will wait your video..
@@sarindaranramasamy3459 Alright! 😊
Hi thank you for the video I have a small problem the account number from IB has a letter in the middle and I cannot type it in my bank application
Hi Abdullah, you can read the excerpt below IBKR's transfer instruction, i believe they did mention you can omit the letter if your bank does not accept the letter in the middle! :)
Hi Ziet,
I have opened an Interactive Brokers account from Germany and saw this video. I did not know I would need to pay such a high fee just for depositing money into my account. 15 dollars if I am investing every month 100 dollars is already a 15% loss of my capital. How is this a good idea? Could you please clarify this for me? I am new to investing in the stock market and thought fees for this would be lower.
Should I consider a German broker then? Maybe then I do not have to pay such a high fee to transfer money to the US
Hi Jose, that is in the context of depositing USD yeah, for germans i believe you can deposit Euro instead for free! (Double check on IBKR website because they can accept 24 different currencies)
hi Ziet.tried using CIMB but abit confuse.do you have cimb ftt tutorial?😁
Unfortunately i dont 😭
Please did you try to fund your Ibkr with western union?
Hi otman i have never tried that before
Can you advise how to funding interactive broker via CIMB singapore?
I used to do this, but now it's easier (assuming you are Malaysian) to fund with Wise, you can find it with this link
th-cam.com/video/8YeDT2ol1K0/w-d-xo.htmlfeature=shared
Hi Ziet, is the 15 usd charged by JPMorgan avoidable through other transaction methods?
Hi, this 15-25 USD agent bank fee is only incurred when you perform Foreign Telegraphic Transfer from a bank outside of the US
@@ZietInvests so if i am using wise it won't incur
@@ZietInvests Ziet, I can't seem to place a selling cash order, do you know the issue? It is possible to buy
Hello Ziet,new subscriber here..I’m a resident here in Japan.what’s the best thing to do to wire transfer from my local bank to IBKR acct.thank you
Hi Jo Lynn, IBKR has a JPY bank account so you can actually local transfer your JPY into their JPY account.
Inside IBKR > Deposit > drop down menu change USD to JPY and you can set up a similar transfer instruction.
Feel free to DM me on instagram if you need any further help 😊
Hey Ziet!
I am trying to deposit some money, but it says a special handling fee of 1% (at least 50usd) will be charged. Do I understand it correctly?
Hi Matyi, may I know what currency are you depositing? If you are depositing USD via Foreign Telegraphic Transfer, it is normal to be charged 25 USD by their corresponding US banks, not by IBKR.
Otherwise, you may want to try funding your IBKR account with Wise: th-cam.com/video/dJYzHEnBhJs/w-d-xo.html
Hi can i send money to other country without routing number.?..only swiftcode and accnt number i have
Hi Mike, that depends where you are sending to, for US you will definitely need Routing Number (as far as I know) - can try asking the customer support though
Otherwise, try this method: th-cam.com/video/dJYzHEnBhJs/w-d-xo.html
@@ZietInvests hello i am sending to Canada... no problem if it doesnt have a routing number?
Hi Ziet, maybe I miss some of your message which hardly for to control-F.. any idea what is the max RM that I can make transfer from Maybank?
Hi Mick, from Malaysia? Should be no limit (if using FTT)
@@ZietInvests Tks Ziet.. Tried several time from Maybank2U, last click CONFIRMATION keeps hanging.. Your Wise and CIMB Sing method still the best.. FUnd reached IB within an hour. Tks, your video very helpful.
HI Ziet, thank you for the video. Its helpful. May i ask if any charges by transferring fund from CIMB MY to CIMB SG since both account are linked. Referring to your video, your guide is transfer MYR to SGD via transferwise. Kindly advise. Thank you
Hi Lois, if you are transferring internally from CIMB MY to CIMB SG, I believe there is no fees because CIMB has already bundled them under the conversion rate (shadow fees that you would not realise)
Using TransferWise (Wise), the rates are better there but it is offset by the minor fee incurred.
All in all the difference between them is pretty marginal, I am used to using Wise but that said, there's nothing to lose if you choose to transfer using CIMB Clicks MY internal transfer too.
Why not transfer directly in USD to Interactive broker account with wise
Hi Ziet!
Would love to have your opinion on the following matter - I am from Israel, thus all my money is in ILS currency. If I intend to deposit a fund into my IBKR account to trade US stocks, would it be cheaper to deposit the money in ILS to the IBKR account and then request an exchange from ILS to USD? Would that save me some of the fees you mentioned in the video?
Thanks!
Hi Avitay, yes, if ILS is one of the support currency by IBKR, why not! You can convert to USD later in it, this should be the most cost effective way!
@@ZietInvests Thank you! :)
Do we have to TT transfer from local bank in Malaysia for initial funding or can we use transferwise?
Hi, I will never recommend one to use TransferWise (Wise) into IBKR directly from Malaysia, reason being there may be complication down the road (fund being withhold, fund being investigated etc.) for which some forumers have faced.
Best way to fund IBKR as a Malaysian is through Wise > CIMB SG > IBKR (SGD).
FTT is another pricier alternative but can equally get the job done, regardless first time or not, IBKR doesnt care what method you fund your account with as long as they got the money from your name.
@@ZietInvests thank you for your prompt reply. Keep up the good work!
Cheers! 😊
Hi Ziet,
Now that we have a CIMB Sg account, can you show us how to fund TD Ameritrade (in Sg$) from this account as most Malaysians don't have a DBS or POSB account.
Sorry to ask, but I find TD Ameritrade is a horror to deal with
Hi Raymond, i feel the same too which is why i didnt use TDA 😂 that said, TDA only accepts SGD funding from DBS and POSB bank, not from cimb bank though
@@ZietInvests Thanks for the clarification. You are a life saver. Your reply was faster than TD Ameritrade's WhatsApp help 💤service.
Cheers 🥂 👍
@@raymondlee8951 Haha whooopsss shots fired 😂 glad I was helpful!
When i tried to deposit money from my maybank to IBKR it says i need to pay agent fee of RM143 which is quite a lot. is this normal for funding through maybank?
Yes, about 25 USD, that is why I'd recommend people to use CIMB SG or Wise instead! I have videos on that, you can check them out :)
Hi ziet.very informative video.tq.i want to ask u, I already have IBKR account with maybank FTT as my funding source, and im the middle in doing CIMB singapore account, and i want to ask u, if my CIMB singapore account is ready, how i want to register it in IBKR?I plan to shift from maybank FTT to cimb singapore...
You can just add another deposit bank in SGD, simple as that ☺️ can refer this video for the steps: th-cam.com/video/_4KJY8MVC5g/w-d-xo.html
@@ZietInvests tq
If fund via CIMB Sg, how much is the fees charged?
Hi pat, if going through the CIMB SG method, you will be charged
1. TransferWise transfer fee (roughly RM 30 for RM 3,000 transfer) with conversion at spot rate
2. Currency conversion fee inside IBKR (USD 2) at spot rate
Nice mic >>>
Haha thank you!🥰
Do they debit wire fee charge everytime when we make a transaction(here as u said $15)? video 5:57
Hi daniel, yes they do, for each deposit you make (not for withdrawal, it should be free)
Nó thật sự khá phức tạp. Tai sao ibkr không chuyen tien trực tiếp vao nha bank
Do you still using ibkr ? Im hesitate to deposit because of inactivity fees im focusing on long term but 10 dollars inactivity fees is high
Hi persie, yes I am, but to be specific, with TSG-IBKR (TSG being the introducing broker). TSG does not charge any inactivity fee
Is it same funding proses to global tradestation ?
Yep correct! This can be used to fund TSG as well (essentially both are using IBKR).
Hi Ziet, what if I transfer after 6p.m.? Can I do that since I am working during the day? Thanks
Hi Khairil, I'm afraid the system (Maybank) won't let you proceed to fill in the details after 6pm.
You can try do that during lunch hour, or take a day off :x
Or, you can try contacting your bank and see if they can help you schedule a FTT transfer
@@ZietInvests Thanks for the prompt response. If you have a how to withdraw, please do share. Thanks!! :)
@@gozza Yes! Coming up tomorrow 30th April (Friday)! Stay tuned!
@@ZietInvests tried yesterday. It workssssss!!!
@@gozza Oh what time did you do it?
Hmm so Ibkr has their own IBKR singapore account. Why isnt there an option to transferwise straight to that IBKR singapore account? I know tiger broker has this option
Yes, you can do that and in fact i am doing that!
This video is about foreign telegraphic transfer for which is applicable to people from countries with no support to Wise or just want to use FTT from their bank directly
@@ZietInvests ooo thanks for that!
Hi good day. May I know why JPMorgan Bank charged me for 25usd instead of 15usd ? Is they charge on the amount we deposited?
Hi Yong Xiang, that is most likely charged by malaysian bank's US correspondent bank.
What happens is, when you FTT from MYR, it goes to say Maybank's US correspondent (Citibank), before it transits to JPMorgan, so I believe that cut is eaten by Citibank.
However you can always check with Maybank on this.
IBKR doesn't charge deposit fee, though you can check with them whether JP Morgan charges any intermediary fee.
@@ZietInvests Alright got it ! Thanks for your reply !
@@chuahyongxiang5242 You're welcome!
Good job !
Thank you !! 😎😊