What’s IBKR fee like vs Syfe? I have a Core Equity 100 portfolio with Syfe now and the fee per month I’m paying is getting a bit ridiculous. Planning to invest similar amount as yours. Also, may be a silly question - is it worth to sell now when the market is at an ATH, and then repurchase again at IBKR?
Think one thing you may or may not realize is that when you are 40 looking back, that decision to wait and decide when to invest that profit may look silly given how much capital you would deal with then. It may be less effort to just invest now because most that choose to wait will either agonize over whether a 3% fall, or a 5% fall is large enough. And when it never comes, you end up either just investing at a higher price, or wait more. You would be adding more capital to it through the RSP program and this may end up similar. Ultimately, what you have to contend with whether you should buy-and-hold, or have a valuation allocation layer in your investment decision making in the future when your capital reaches $200,000 for example. Those decisions will be more impactful than the sum you have now.
But I have a question? Why choose CSPX after selling the VOO? It is known that VOO has lower risk than SCPX in my opinon. Could you provide your thinking behind the decision. Thank you so much.
Dividend withholding taxes and estate taxes because VOO is domiciled in the US. Largely now due to the fact that I increased my monthly investment to USD$800 a month.
Kudos. Very interesting information. Who knew being domiciled in Ireland would have have such a benefit. I look forward to seeing how everything turns out in the end.
Explore FSMOne! I have a video coming out soon but thanks to the comments here, they offer zero fees for ETF regular savings plan and it applies to CSPX too!
Question: Unless you're absolutely sure that price right now is overpriced, wouldn't it be better to just deposit L/S on top of your monthly contribution right away as assuming the year will end with 12% returns, it will be 12% on your principal to which, is 4k if you L/S in, or 12% of 800 if you're timing the market. Or are you anticipating a withdrawal in price and finding opportunities to dump on withdrawal? But wouldn't this be considered acting on emotion? New to this, appreciate your guidance, thanks!
Hi Demi, I have been loosening clarity on which stock to choose over a month. Now I got more understanding overtime, kudos to you that your videos are very informative and transparent. One question as a beginner who want to invest 150USD monthly, which stock should I start with? Really looking forward for your answer. Thanks.
Sorry but I can't suggest what stocks to start with, instead watch this where I mention about finding out what your risk appetite is and you can start researching on instruments that suits that risk level - th-cam.com/video/NHa1TTiEL_A/w-d-xo.html
if it's VOO, Moomoo Singapore actually. Syfe Trade is simple for beginners, if you don't plan to do anything apart from DCA every month. Syfe Trade works.
Thanks for the sharing. Very handy. I have just started using IBKR. For CSPX, domiciled in Ireland, do we have to ensure trading permission for United Kingdom?
For anyone watching, another option to deal with the estate tax is to buy a cheap term life insurance policy so the person who inherits your estate (in my case my wife) doesn't have to sell any shares. I spent 7 years in the USA but never got a green card, so when I moved to Asia, I still had a bunch of stocks in the USA. For my personal situation, it didn't make sense to move certain assets. What Demi did here was a great move! But once you save up about a year's worth of salary in stocks (you'll save it faster than you think if you keep dollar-cost averaging), making big sales takes a bit more thinking. 🎉
@@cassandradmello9723 I'll use exaggerated numbers, and my percentages will be off because I don't have them nearby but this should explain it: Say if I had $1m USD in stocks and passed away. My Taiwanese wife would have to pay about 50% in estate tax and would probably need to sell $500k worth of stocks to cover the tax bill, which would then probably cause other tax implications. One option is to buy non-USA domiciled ETFs like explained in the video above, which is a great option. That being said, there's far less choices for ETFs that are non based in the USA. Another option is to buy a $500k term life insurance policy, pay the premium every year, and if I do pass away, my wife uses the $500k life insurance policy to pay the estate tax bill and doesn't sell any of the stocks. So you don't avoid the tax bill, you just avoid having to sell stocks to cover it. The bet you're making is that the USA-based ETF will perform better than a non-USA ETF. That being said, this is definitely not financial advice, but this is another angle to ask a financial advisor about if you have a larger amount of assets. This is just a small optimization. The real goal is to spend less money than you make, invest it in boring stuff, then optimize later 🙂
Thank you so much for teaching the pricing tier :( I didnt know that was an option May I ask what are your thoughts on SPYL, it has a lower expense ratio Thank you and have a nice day!
If liquidity is not an issue (retirement), isn't it better if you top up SRS and invest in S&P500 equivalent using Endowus? Can get some income tax savings too and no estate tax. 0% withholding tax if u get the ishare fund.
That’s exactly what I’m doing. My SRS is also in that iShares fund but I’m wondering if the Amundi Prime fund is better or not in performance. What do you think?
@ahsiong88 I can't say with certainty but over the long term...both Amundi and Ishare should be the same. But Amundi has 30% withholding tax vs Ishares 0%. (If I am not wrong).
I just went through these 2 funds on Endowus website. Only a short history to compare these 2 funds. For both 1 year and YTD, the Amundi Prime USA fund performs slightly better than the iShares US index fund.
@@jinwooo2724I just went over the 2 funds data in Endowus website. Not a long history to compare them but for both 1 year and YTD performance, the Amundi Prime is slightly better than iShares US fund. Still considering whether to switch over to Amundi or not because of the nickering fear of counterparty risk for synthetic fund. Anyway my OA is invested in Amundi and my SRS is in iShares.
Hi Demi, for the recurring monthly order tiered pricing, does that means that every month, it will incur the USD 1.7 per order and the equivalent tiered % of the monthly trade value?
hello, i understand that from your video you mentioned that you are increasing the amt you're investing into S&P 500 which is why you're swapping over to CSPX from VOO. if i were to only invest 200-400/month, would you suggest sticking to VOO over CSPX?
@@pleasefallnow5744 that was my on-top-of-my-head memorized amount. I find for USD3K trade in LSE, the fee is about USD4. It is the best lowest amount --meaning that if you convert USD 6K, the commission is double, ie. USD8. Sometimes I do USD1.5K but the fee is USD3.4, which is not optimized but still tolerable.
So grateful for your content, helps so much to understand investing and IBKR platform. Do you mind me asking if you were able to purchase bulk would you, or is it more cost effective to just setup reaccuring monthly purchases? many thanks in advance :)
Cost wise one bulk purchase will be more cost effective if you’re comparing with recurring monthly purchases! I’m Dollar Cost Averaging the lump sum :)
Hello, can you show how to set up the monthly giro to transfer funds from the bank to IBKR ? Also will the USD be automatically converted to SGD when withdrawn else how to withdraw the funds
Thank you for the content & sharing. Can you share your view on SPYL which is also Ireland-domiciled, accumulating & have a 0.03% expense ratio as compared to CSPX. Thanks
Have you explored FSM doing RSP into VUAA? There’s no fee as VUAA is in FSM ETF RSP list and you can even choose to RSP up to 4 times a month. However, the exchange rate might not be as good as IKBR. You can also do recurring cash top up to your FSM which suits the hands-off approach that you are looking for.
I am sorry you had to lose money on the FX conversion. Perhaps instead of selling your stocks, converting them to SGD. Maybe next time, try transferring your positions from current exchange to IBKR via ACATS(or any other method) in order to save any loss on the USD>SGD>USD. You just needed the information required by IBKR and they would do everything on your behalf to bring over all your equitites/positions in a matter of few weeks. I just did mine from Baraka>IBKR without losing any money on FX conversions. Here's how/ IBKR allows several methods of doing position transfers(means your stocks get transferred 1:1) from an existing broker. And IBKR does that from within their dashboard under transfers tab>Transfer positions. Doing so your stocks get moved in IBKR and then you can go and trade(sell) them on IBKR for USD and doing this helps you without going through the banking channels and losing on FX conversions.
Hi, I am new to investing and have not used IBKR before, with regards to the payment reference number is that the number provided by IBKR or the broker account set up with the bank? Previously, i used syfe and stashaway which only required like topup by paynow i believe rather than a broker account so Im a bit confused
it's the reference number shown in your account when you get the instructions to send money into your account. each user has a unique reference number.
The commision from ibkr for about 150 usd of cspx is approximately 1.80. It bumped up the average price of the cspx I bought. Will accumulating thru DCA be wise if the commission keeps stacking up?
New to invest, after the great video. I hav open an account and funded, set up recurring buy. Do i need to covert the money that i funded in sgd or auto
may i know what platform are you using now? I am on IBKR but still not that comfortable with the interface. hoping to get something like eTrade functionality (eTrade not operating in my region)
For the tiered pricing in the video the country shows UK but I am from Singapore. Thus, I tried selecting Singapore and I realized the tier 1 and fixed pricing is similar. Do i still proceed to choose tiered pricing because fixed pricing doesn't include 3rd party fees?
There is actually no need to convert usd to sgd to usd and suffer conversion losses. You could simply transfer out in usd to a multi currency account (e.g DBS), then transfer the same USD into IBKR.
I think the 30% vs 15% withholding tax on dividend is fine, because dividend pay out by ETF is negligible, but the 40% estate tax is too damn high, but of coz you may ignore this if you don't care about who get the money after you passed away.
Why did you choose CSPX and not VUSA? I personally have VUSA. It has a better return over a decade and pays out the dividends. I have two ETF’s manly. VUSA and VUTY. I buy it with a 90% VUSA and 10% VUTY. Just like warren buffet advices. I prefer to get dividends pay out because when stocks are low I will use my dividends to buy VUSA and when bonds are low I focus more on bonds VUTY. This way life is easy and flexible. I will ad 2 more ETF’s VEMT for bonds and one more for stocks not sure which yet. Like a developed euro etf. I’m from the Netherlands and with Ireland based etf we pay 0% dividend tax. How is life going in Japan. I’m looking so forward to visiting Japan.
Maybe not so straightforward to compare CSPX and VUSA as they are denominated in different currencies. Over the long term their performance looks quite similar but I’m not sure what is the currency effect. A more direct comparison will be between VUSA and VUAG. Both are in GBP but VUAG reinvest its dividends. Over the long run, VUAG performs much better.
What lol? VOO is in $, CSPX too. VUSA are £ that’s for starters. Vusa is distributing and CSPX is accumulating, you don’t compare two different entities to each other like that. From the three Vusa is the youngest, two of the rest have longer track record lol. Add currency volatility and you’re losing. Learn your facts before you post dumb shit
Actually if you want 0% dividend tax you cam invest in synthetic ETFs. Though it comes with it's own set of risks like counter party risks. HOwever, usually the counter parties are very large banks which have low risk of failing.
Can you list out a S&P 500 synthetic ETF? I’ll like to find out more. Thanks. The only one I know now is a Blackrock fund in Endowus but it’s not an ETF.
CSPX seems to consistently have a slightly lower return than VOO. If it stays like this in the future, would need to factor if the lower returns cancel out the gains from lesser withholding tax...
Hi..great video. Understand that you plan to invest USD800 mthly into CSPX. Im assuming that you will probably transfer slighly over S$1k. Just wondering how much S$ you transfer to do your monthly DCA. The excess will probably reside in interactive broker......correct??
Yeah that’s what I’m doing too. Though I wish they can have more ETF on their ETF RSP list such as CSPX, SPYL, etc. but VUAA is good enough though. I also RSP into IUIT.
Hello, thank you for the video. I really find it a struggle to navigate IBKR. Also, do you calculate the EXACT amount of SGD to deposit for 800 USD? Or you deposit an ESTIMATED amount of SGD based on the exchange rate? The OCD in me prefers IBKR to wipe out whatever SGD I have set aside for recurring 🤡
@@captainhook4583 this depends on the SGD/USD exchange rate for the day of transaction! Currently it is 1.36SGD/USD, so 1100SGD = 809USD. While this is higher than the USD $800 with an excess USD $9 or S$12.20 (unconverted), remember we still have commission fees to pay on IBKR and some of these fees would be deducted from the liquid cash balances remaining in your IBKR amount. Hope this helps!
a qn i faced when deciding: buying voo on moomoo offers 0 fee, however ibkr always has a fee. does lower withholding tax offset the fee? thanks in advance
Well snce you are going to DCA into SP500 equivalent you should have taken the chance to take profit from CMC and diversify into other areas with tactical tilts (say a small portion into HY bonds or sector based ETF or geographic (non-us etf) esp with the US market being rich in valuations. Since you wont DCA into those position you portfolio will still naturally tend towards US large cap but at least this is a good chance to rebalance.
Technically if you didn’t sell VOO you’re also deployed. Don’t need to time the market and just put it in the market. A red in IBKR does not mean a red in your portfolio. You’re still green from VOO.
I have been following you for awhile but till now i’m still unsure on how to do my own investments. Any suggestions on how to start it other than using robo? Or any books/websites i could go on to learn more on investments?
If u just utilize the free trade per month from CMC Invest, would it still be cheaper on Ibkr (even though it would be manual and forex is higher on CMC)?
I follow u open up cmc invest. Now they have free trade every month… ibkr got commission… any reason why u choose ibkr? Beside the fx rate ? Fractional share is not my consideration cos I want to buy 2 share monthly. In my case, do u think I Shd continue on cmc invest to take advantage on the free trade? Or is it more worth to use ibkr?
Any thoughts on SPYL on IBKR? Seems like IBKR dont offer on LSE but on EBS. And due to the fx rates...per trade commission is 1% of trade value which si around 4USD.
Hi Demi, is it true that for recurring fractional shares buy for cspx on ibkr cannot use tiered pricing, have to use fixed pricing if buying recurring fractional shares?
I bought one whole Stock of VOO since Sep 2022 monthly and it currently holds at 31.48% profit.
Thanks for the demo. Its really helpful for beginner investors
What’s IBKR fee like vs Syfe?
I have a Core Equity 100 portfolio with Syfe now and the fee per month I’m paying is getting a bit ridiculous. Planning to invest similar amount as yours.
Also, may be a silly question - is it worth to sell now when the market is at an ATH, and then repurchase again at IBKR?
thanks Demi, i was planning to do it but was put off by the set up...thanks for giving a step by step!appreciate it.
same here, finally got around to doing it.
Think one thing you may or may not realize is that when you are 40 looking back, that decision to wait and decide when to invest that profit may look silly given how much capital you would deal with then.
It may be less effort to just invest now because most that choose to wait will either agonize over whether a 3% fall, or a 5% fall is large enough. And when it never comes, you end up either just investing at a higher price, or wait more.
You would be adding more capital to it through the RSP program and this may end up similar.
Ultimately, what you have to contend with whether you should buy-and-hold, or have a valuation allocation layer in your investment decision making in the future when your capital reaches $200,000 for example. Those decisions will be more impactful than the sum you have now.
Thank you for you video. I have also made a mistake of the pricing tier. Thanks to you , I choose the right option now.
But I have a question? Why choose CSPX after selling the VOO? It is known that VOO has lower risk than SCPX in my opinon. Could you provide your thinking behind the decision. Thank you so much.
Dividend withholding taxes and estate taxes because VOO is domiciled in the US. Largely now due to the fact that I increased my monthly investment to USD$800 a month.
@@DemiZhuang Thank you for you answer. I am going to do some research of CSPX.
@@maomaoyawhy do you say that VOO has lower risk? Both VOO and CSPX are tracking the same index.
Kudos. Very interesting information. Who knew being domiciled in Ireland would have have such a benefit. I look forward to seeing how everything turns out in the end.
May I ask what was the purpose of switching from VOO to CSPX? Nice video btw!
Thanks for this! 1 question, with the recurring option selected, does IBKR still allow tiered pricing? Or will it switch back to fixed?
Tierd is still possible!
This is so useful. Thanks for sharing and keep making videos like this! :)
I am doing the same changing from voo to cspx✌🏼✌🏼💪🏼 thanks for the video yes prices are high im gonna do DCA until price drop
Explore FSMOne! I have a video coming out soon but thanks to the comments here, they offer zero fees for ETF regular savings plan and it applies to CSPX too!
@@DemiZhuang im from malaysia i dont know if they have cspx in malaysia for that
@@shamiranandani6751 ah okay I think u have to stick with IBKR
Hi Demi, are u using ibkr sg or llc, what is the main difference between them?
Question: Unless you're absolutely sure that price right now is overpriced, wouldn't it be better to just deposit L/S on top of your monthly contribution right away as assuming the year will end with 12% returns, it will be 12% on your principal to which, is 4k if you L/S in, or 12% of 800 if you're timing the market. Or are you anticipating a withdrawal in price and finding opportunities to dump on withdrawal? But wouldn't this be considered acting on emotion? New to this, appreciate your guidance, thanks!
Yesyes better to just not think and place it back in when I’ve sold it!
Hi Demi, have you consider CNDX? Would love to hear your thoughts on it ☺️
Hello! Nope have not searched into that.
Hi Demi, I have been loosening clarity on which stock to choose over a month. Now I got more understanding overtime, kudos to you that your videos are very informative and transparent. One question as a beginner who want to invest 150USD monthly, which stock should I start with? Really looking forward for your answer. Thanks.
Sorry but I can't suggest what stocks to start with, instead watch this where I mention about finding out what your risk appetite is and you can start researching on instruments that suits that risk level - th-cam.com/video/NHa1TTiEL_A/w-d-xo.html
Have you calculated whether the savings from the withholding tax outweights the expense ratio?
Thank you for the video! Was wondering if you could do a video on how to use your notion template? Thanks!
Hi Demi! Would you rather buy VOO on SYFE or IBKR? Is there a difference? Thanks!
if it's VOO, Moomoo Singapore actually. Syfe Trade is simple for beginners, if you don't plan to do anything apart from DCA every month. Syfe Trade works.
Thanks for the sharing. Very handy. I have just started using IBKR. For CSPX, domiciled in Ireland, do we have to ensure trading permission for United Kingdom?
For anyone watching, another option to deal with the estate tax is to buy a cheap term life insurance policy so the person who inherits your estate (in my case my wife) doesn't have to sell any shares. I spent 7 years in the USA but never got a green card, so when I moved to Asia, I still had a bunch of stocks in the USA. For my personal situation, it didn't make sense to move certain assets.
What Demi did here was a great move! But once you save up about a year's worth of salary in stocks (you'll save it faster than you think if you keep dollar-cost averaging), making big sales takes a bit more thinking. 🎉
hi, could you elaborate more on this? How can a term life insurance protect against estate tax?
@@cassandradmello9723 I'll use exaggerated numbers, and my percentages will be off because I don't have them nearby but this should explain it:
Say if I had $1m USD in stocks and passed away. My Taiwanese wife would have to pay about 50% in estate tax and would probably need to sell $500k worth of stocks to cover the tax bill, which would then probably cause other tax implications.
One option is to buy non-USA domiciled ETFs like explained in the video above, which is a great option. That being said, there's far less choices for ETFs that are non based in the USA.
Another option is to buy a $500k term life insurance policy, pay the premium every year, and if I do pass away, my wife uses the $500k life insurance policy to pay the estate tax bill and doesn't sell any of the stocks. So you don't avoid the tax bill, you just avoid having to sell stocks to cover it.
The bet you're making is that the USA-based ETF will perform better than a non-USA ETF. That being said, this is definitely not financial advice, but this is another angle to ask a financial advisor about if you have a larger amount of assets.
This is just a small optimization. The real goal is to spend less money than you make, invest it in boring stuff, then optimize later 🙂
sorry as a finance noob, what's the time period it took from start to your realised profit?
Is there a consideration for not using recurring on FSMone too? Are the exchange rates comparable for both? I'm also lazy to switch. 😅
does IBKR stick to the (4 or less trades per 5 working days if not you're considered a broker) rule?
Have you tried looking at IVV ASX?
Thank you so much for teaching the pricing tier :( I didnt know that was an option
May I ask what are your thoughts on SPYL, it has a lower expense ratio
Thank you and have a nice day!
Lower liquidity, higher spread. I saw this before choosing to do what I did.
@@DemiZhuang Thank you!!
If liquidity is not an issue (retirement), isn't it better if you top up SRS and invest in S&P500 equivalent using Endowus? Can get some income tax savings too and no estate tax. 0% withholding tax if u get the ishare fund.
That’s exactly what I’m doing. My SRS is also in that iShares fund but I’m wondering if the Amundi Prime fund is better or not in performance. What do you think?
@ahsiong88 I can't say with certainty but over the long term...both Amundi and Ishare should be the same. But Amundi has 30% withholding tax vs Ishares 0%. (If I am not wrong).
I just went through these 2 funds on Endowus website. Only a short history to compare these 2 funds. For both 1 year and YTD, the Amundi Prime USA fund performs slightly better than the iShares US index fund.
@@jinwooo2724I just went over the 2 funds data in Endowus website. Not a long history to compare them but for both 1 year and YTD performance, the Amundi Prime is slightly better than iShares US fund. Still considering whether to switch over to Amundi or not because of the nickering fear of counterparty risk for synthetic fund. Anyway my OA is invested in Amundi and my SRS is in iShares.
Hi Demi, for the recurring monthly order tiered pricing, does that means that every month, it will incur the USD 1.7 per order and the equivalent tiered % of the monthly trade value?
Either or. Depends on what ur order amount is.
This is very confiding you saw of VOO and buy back in in dollar cost average. Should be buying back the same amount yet you timing the market.
Hi demi, why do you not use tiger brokers which has cspx? :)
hello, i understand that from your video you mentioned that you are increasing the amt you're investing into S&P 500 which is why you're swapping over to CSPX from VOO. if i were to only invest 200-400/month, would you suggest sticking to VOO over CSPX?
yes I'd still pick VOO over CSPX for low amounts.
@@DemiZhuang why is that exactly? is it due to IBKR's higher trading fee as compared to syfe's 2x free trades & CSPX's higher expense ratio?
for small amount keep buying in voo. once reach 3k. sell all. buy immediately the same amount back in cspx. this way you save a lot of commissions
@@edgan1 i see. thanks for the advice! just wondering, do you have the calculations for this? why specifically 3k?
@@pleasefallnow5744 that was my on-top-of-my-head memorized amount. I find for USD3K trade in LSE, the fee is about USD4. It is the best lowest amount --meaning that if you convert USD 6K, the commission is double, ie. USD8. Sometimes I do USD1.5K but the fee is USD3.4, which is not optimized but still tolerable.
So grateful for your content, helps so much to understand investing and IBKR platform. Do you mind me asking if you were able to purchase bulk would you, or is it more cost effective to just setup reaccuring monthly purchases? many thanks in advance :)
Cost wise one bulk purchase will be more cost effective if you’re comparing with recurring monthly purchases! I’m Dollar Cost Averaging the lump sum :)
hi! does IBKR charge a fee for the recurring-buy feature? thanks!
Not that I've noticed!
You mentioned about Witholding tax and estate tax, how about capital gain tax? Don't you have this as well? Can you elaborate more? Thank you!
there are no capital gain tax in singapore
Hello, can you show how to set up the monthly giro to transfer funds from the bank to IBKR ? Also will the USD be automatically converted to SGD when withdrawn else how to withdraw the funds
why not buying CSPX on syfe?
I bought CSPX on Syfe, don't mind explaining why not using Syfe instead ? Thanks ya
Hi, is your IBKR account type Margin/Cash?
Cash!
@DemiZhuang Do u know if I made a margin order, do I need to close the order, change my account to cash or is there other ways to not use margin?
Thank you for your video! I was wondering why you chose VOO over VUAA/CSPX
Hi Demi, what about Tiger Brokers? Was that platform part of the consideration?
CSPX is only offered on a few brokers, tiger isn’t one of them. Mentioned about platform choosing in the video.
Can someone give a practical example of CSPX and how exactly the dividends is reflected when it's accumulated ?
nice video and simple trading easy to learn
I think recurring transfer in sgd, still have to manually convert to usd for the recurring buy of stock to succeed
Nope, not in my experience.
Thank you for the content & sharing. Can you share your view on SPYL which is also Ireland-domiciled, accumulating & have a 0.03% expense ratio as compared to CSPX. Thanks
the per unit price is too low. you will pay a extra due to per shares bid spread ratio
Nice video, I plan to do the same. Liquidating from Etoro to IBKR soon!
So if I buy as a share is it better than the amount of money I pay 800$ every month?
Have you explored FSM doing RSP into VUAA? There’s no fee as VUAA is in FSM ETF RSP list and you can even choose to RSP up to 4 times a month. However, the exchange rate might not be as good as IKBR. You can also do recurring cash top up to your FSM which suits the hands-off approach that you are looking for.
Just found out that FSM added CSPX into their RSP list.
What is the best amount to DCA to minimise the cost in IBKR?
$0
@@10M65-t9l meh 0
I am sorry you had to lose money on the FX conversion. Perhaps instead of selling your stocks, converting them to SGD. Maybe next time, try transferring your positions from current exchange to IBKR via ACATS(or any other method) in order to save any loss on the USD>SGD>USD. You just needed the information required by IBKR and they would do everything on your behalf to bring over all your equitites/positions in a matter of few weeks. I just did mine from Baraka>IBKR without losing any money on FX conversions.
Here's how/ IBKR allows several methods of doing position transfers(means your stocks get transferred 1:1) from an existing broker. And IBKR does that from within their dashboard under transfers tab>Transfer positions. Doing so your stocks get moved in IBKR and then you can go and trade(sell) them on IBKR for USD and doing this helps you without going through the banking channels and losing on FX conversions.
Hi, I am new to investing and have not used IBKR before, with regards to the payment reference number is that the number provided by IBKR or the broker account set up with the bank? Previously, i used syfe and stashaway which only required like topup by paynow i believe rather than a broker account so Im a bit confused
it's the reference number shown in your account when you get the instructions to send money into your account. each user has a unique reference number.
@@DemiZhuang ok thanks!
why you didn't just transfer the stocks between account instead of selling and paying taxes on it
Why did you change dollars to different currency, sent it to IBKR and then changed it to dollars again when buying the shares?
there's a charge if i send USD in and out of my bank. wasn't worth it when i calculated.
@@DemiZhuang I am using Revolut for this. Keeping different currencies there and sending money to/from broker.
The commision from ibkr for about 150 usd of cspx is approximately 1.80. It bumped up the average price of the cspx I bought. Will accumulating thru DCA be wise if the commission keeps stacking up?
My own journey, before this I used Syfe Trade cus same like you I only did $150 a month. It’s not worth it to pay fees.
@@DemiZhuang so the comission is 0.05% or minimum 1GBP?
New to invest, after the great video. I hav open an account and funded, set up recurring buy. Do i need to covert the money that i funded in sgd or auto
@vpsloh auto~
Great sharing! Love the step-by-step illustration on IBKR. I personally find the UX painful as well and hence not on IBKR.
may i know what platform are you using now? I am on IBKR but still not that comfortable with the interface. hoping to get something like eTrade functionality (eTrade not operating in my region)
wanted to get into Malaysia stocks can use IBKR? is that a good platform with reasonable fees and exchange rate?
Yea
For the tiered pricing in the video the country shows UK but I am from Singapore. Thus, I tried selecting Singapore and I realized the tier 1 and fixed pricing is similar. Do i still proceed to choose tiered pricing because fixed pricing doesn't include 3rd party fees?
Pricing is dependent on where the fund is listed on. CSPX is on London Stock Exchange hence UK pricing.
That's gotta hurt losing 4% on the money conversion. But better now then later when you grow your portfolio even more
There is actually no need to convert usd to sgd to usd and suffer conversion losses. You could simply transfer out in usd to a multi currency account (e.g DBS), then transfer the same USD into IBKR.
May I ask how much is your commission fee for a trade of USD 800?
$1.85 USD!
@@DemiZhuang Thanks for the info. I was charged 2.08 USD for a trade of 800 USD. Not sure if it’s because it’s a one time trade and not recurring.
@@JoinMeWalkers same! the $1.85 is recurring.
I don’t think I’ll switch from voo. Don’t wanna think of it
You do you!! 👍🏻 as long as you’re good w it, no one can tell you otherwise!!
I think the 30% vs 15% withholding tax on dividend is fine, because dividend pay out by ETF is negligible, but the 40% estate tax is too damn high, but of coz you may ignore this if you don't care about who get the money after you passed away.
Hi Demi! Great videos, can you make a tutorial or video on how to transfer your funds from syfe to IBKR. Thank you!
It just cashing out withdraw back to bank and transfer back in. It’s in the video on how to deposit.
Why did you choose CSPX and not VUSA? I personally have VUSA. It has a better return over a decade and pays out the dividends. I have two ETF’s manly. VUSA and VUTY. I buy it with a 90% VUSA and 10% VUTY. Just like warren buffet advices. I prefer to get dividends pay out because when stocks are low I will use my dividends to buy VUSA and when bonds are low I focus more on bonds VUTY. This way life is easy and flexible. I will ad 2 more ETF’s VEMT for bonds and one more for stocks not sure which yet. Like a developed euro etf. I’m from the Netherlands and with Ireland based etf we pay 0% dividend tax. How is life going in Japan. I’m looking so forward to visiting Japan.
Maybe not so straightforward to compare CSPX and VUSA as they are denominated in different currencies. Over the long term their performance looks quite similar but I’m not sure what is the currency effect. A more direct comparison will be between VUSA and VUAG. Both are in GBP but VUAG reinvest its dividends. Over the long run, VUAG performs much better.
What lol?
VOO is in $, CSPX too. VUSA are £ that’s for starters. Vusa is distributing and CSPX is accumulating, you don’t compare two different entities to each other like that. From the three Vusa is the youngest, two of the rest have longer track record lol. Add currency volatility and you’re losing. Learn your facts before you post dumb shit
What trading permission do i need to allow in order to set up recurring on CSPX? as i faced an error saying that i do not have permission to trade
Searching trading permission, under stocks from UK and all global in fractions.
so complicated. in USA i have Charles Schwab account and i will continue to use when i relocate to Thailand next month.
Actually if you want 0% dividend tax you cam invest in synthetic ETFs. Though it comes with it's own set of risks like counter party risks. HOwever, usually the counter parties are very large banks which have low risk of failing.
Can you list out a S&P 500 synthetic ETF? I’ll like to find out more. Thanks. The only one I know now is a Blackrock fund in Endowus but it’s not an ETF.
@@ahsiong88 Check for SPXS and I500
@@ahsiong88 Hi you can look for SPXS and I500
@@ahsiong88 SPXS, I500 etc.
seems like the draw back this week might be an eye opener to invest
Syfe doesn't allow withdrawal in USD?
allows but receiving and transferring USD both ways has fees
CSPX seems to consistently have a slightly lower return than VOO. If it stays like this in the future, would need to factor if the lower returns cancel out the gains from lesser withholding tax...
Hi may I check how do they deduct the withholding tax?
for VOO, before dividends get credited to us it'll be deducted.
Very detailed. Thank you for the video!
Hi..great video. Understand that you plan to invest USD800 mthly into CSPX. Im assuming that you will probably transfer slighly over S$1k. Just wondering how much S$ you transfer to do your monthly DCA. The excess will probably reside in interactive broker......correct??
Is it possible to withdraw USD from Syfe and transfer USD to IBKR ?
there are fees and it depends on which bank you're going with.
I started out doing RSP on an Irish domiciled ETF using FSM (ifast), however i chose VUAA in this case.
Yeah that’s what I’m doing too. Though I wish they can have more ETF on their ETF RSP list such as CSPX, SPYL, etc. but VUAA is good enough though. I also RSP into IUIT.
Hello, thank you for the video. I really find it a struggle to navigate IBKR. Also, do you calculate the EXACT amount of SGD to deposit for 800 USD? Or you deposit an ESTIMATED amount of SGD based on the exchange rate? The OCD in me prefers IBKR to wipe out whatever SGD I have set aside for recurring 🤡
I know what you mean 😂 i also felt that way. I do recurring $1.1K
@@DemiZhuang Inner voice: "Just pay higher fees for your OCD and better navigation" 🤡
Anyway, thank you so much. I really appreciate it 🙏
@@DemiZhuang may i confirm it will be SGD $1.1k = USD $800?
@@captainhook4583 this depends on the SGD/USD exchange rate for the day of transaction! Currently it is 1.36SGD/USD, so 1100SGD = 809USD. While this is higher than the USD $800 with an excess USD $9 or S$12.20 (unconverted), remember we still have commission fees to pay on IBKR and some of these fees would be deducted from the liquid cash balances remaining in your IBKR amount. Hope this helps!
a qn i faced when deciding: buying voo on moomoo offers 0 fee, however ibkr always has a fee. does lower withholding tax offset the fee?
thanks in advance
It really depends on how much you put in monthly. Anywhere below USD800 I’d say go with VOO or other ETFs of your choice.
@@DemiZhuanghi may I check why below $800 USD its better to go with US domicile ETF like voo?
@captainhook4583 because you have brokers that allows you to trade that without any fees.
Any particular reason why CSPX and not VUAA?
VUAA has a lesser trading volume and a greater spread. Makes it a bit harder in terms of limit orders and you may lose a few dollars
@@phantommarine29but if you are just doing DCA then maybe the different in volume and spread might not impact much in the long term?
Well snce you are going to DCA into SP500 equivalent you should have taken the chance to take profit from CMC and diversify into other areas with tactical tilts (say a small portion into HY bonds or sector based ETF or geographic (non-us etf) esp with the US market being rich in valuations. Since you wont DCA into those position you portfolio will still naturally tend towards US large cap but at least this is a good chance to rebalance.
Technically if you didn’t sell VOO you’re also deployed. Don’t need to time the market and just put it in the market. A red in IBKR does not mean a red in your portfolio. You’re still green from VOO.
Saw your videos on the platform, how about UOB Kayhian trading platform?
Hi, do you subscribe to live Market Data on IBKR?
I have been following you for awhile but till now i’m still unsure on how to do my own investments. Any suggestions on how to start it other than using robo? Or any books/websites i could go on to learn more on investments?
If u just utilize the free trade per month from CMC Invest, would it still be cheaper on Ibkr (even though it would be manual and forex is higher on CMC)?
hi demi! did u just use the currency converter in SYFE to convert from SGD to USD?
Yup
I follow u open up cmc invest. Now they have free trade every month… ibkr got commission… any reason why u choose ibkr? Beside the fx rate ? Fractional share is not my consideration cos I want to buy 2 share monthly. In my case, do u think I Shd continue on cmc invest to take advantage on the free trade? Or is it more worth to use ibkr?
My own choice if i was in your shoes, can continue on cmc. Not advice haha
Ty. Ok then I just use cmc invest.
Did you have to pay any taxes on the profit for selling VOO?
Why don't you stick with SYFE though? 2 free trades per month.
No cspx in syfe trade but in syfe wealth. U have to pay extra mgt fees. Not worth
bit of trick in the title, you imply you sold all your sp500 etf which u didnt.
S&P 500 is going to 7,000
You sure you don’t wanna ride it all the way up?
Hi Demi!
Wanted to hear about your thoughts of SPYL vs CSPX on IBKR. I noted that SPYL is cheaper overall, but lower liquidity.
This is a very useful video, thanks
Does ibkr charges $2 for currency conversion? If so it would not be worth it
I didn’t incur this!
Any thoughts on SPYL on IBKR? Seems like IBKR dont offer on LSE but on EBS. And due to the fx rates...per trade commission is 1% of trade value which si around 4USD.
Hi, is it worth investing in cspx now when it is at an all time high?
Found out about SPYL and sold all S&P 500 ETF again😂
Already knew about that before this decision.
Are you still on moomoo?
Sg stocks n some US yes
Sorry, was ibkr unable to buy cspx fractionally back then?
What your opinion on SPLG vs CSPX?
nice
madam spyl lower expense ratio also ireland domicile 😊
Hi Demi, is it true that for recurring fractional shares buy for cspx on ibkr cannot use tiered pricing, have to use fixed pricing if buying recurring fractional shares?
Nope, it can be done.
cspx FTW
Do you need an ibkr referral? 😊
Fk no
@@pork6811 :(
👍