Interactive Brokers (IBKR): How to trade the Bursa Malaysia stock and futures market on IBKR?
Interactive Brokers (IBKR) has always been my go-to broker to invest in the stock market. In fact, it is the main broker I use to build my Freedom Fund.
As a Malaysian, I've always wished that IBKR would allow access to the Bursa Malaysia stock and futures markets - so global investors would have the opportunity to invest in my home country's best companies.
The good news?
Now it is possible to trade the Bursa Malaysia stock and futures market via IBKR!
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Dear friends, if you find this post helpful, Iād appreciate it if you can click on the button below to learn about IBKR via IBKRās official site.
Doing so will help the earn the blog a small fee at no extra cost to you.
This will help supporting the blog in creating more useful content ā thanks in advance my friends!
Highlights: Trading the Malaysia stock & futures market on Interactive Brokers (IBKR)
- Strong regulation background:Ā IBKR is a global brokerĀ regulated in 10 countriesĀ including the US, Canada, the UK, Ireland, Europe, Australia, Hong Kong, and Singapore.
- Global market access at highly affordable commission:Ā IBKR offers access to over 150 markets in 34 countries, such as the US, UK, HK, Singapore, Australia, Canada, Europe, Singapore, Japan, and more at a highly competitive commission.
- Addition of Malaysia market: The addition of Malaysia stock and futures market makes it possible to trade in one of Asia's most vibrant emerging markets.
- Vibrant emerging market: Malaysia's foundation in the semiconductor and palm oil industries makes it an attractive market to invest in.
- For whom: IBKR is a no-brainer for investors seeking an all-in-one platform to invest in the global markets at a low commission. One thing I'd like to see is IBKR getting licensed by the Securities Commission (SC) in Malaysia.
What Malaysia-listed products can you trade with Interactive Brokers (IBKR)?
Interactive Brokers (IBKR) is one of the few global brokers that offer access to the Malaysian market.
Below, you'll learn about the instruments you can trade with IBKR:
#1 Malaysian Ringgit (MYR)-denominated stocks & ETFs listed on the Bursa Malaysia Exchange
The Bursa Malaysia is the only stock exchange in Malaysia. It is also one of the largest stock exchanges in Southeast Asia, overseeing more than 970 listed companies.
Through IBKR, investors and traders can access the companies listed in the Main Market and Ace Market of Bursa Malaysia.
(a) Bursa Malaysia Main Market:
The Main Market of Bursa Malaysia houses the largest and most established public-listed companies in Malaysia.
In order to be listed in the Main Market, companies must meet standards when it comes to quality, size, and operations.
Check out the top-performing stocks (>MYR 1 billion market cap) in the Main Market from 2022 - 2024 (YTD):
| 2022 | 2023 | 2024 (as of 3rd Dec) | |
| #1 | Hextar Technologies (+652.5%) | YTL Power (+263.3%) | Sime Darby Property (+140%) |
| #2 | Hextar Industries (+381.3%) | YTL (+241.5%) | Sunway (+133%) |
| #3 | Chin Hin Group (+148.3%) | UEM Sunrise (+227.9%) | Sunway Construction (+126.8%) |
| #4 | Berjaya Food (+145.9%) | Eco World Development (+71.9%) | Gamuda (+98.04%) |
| #5 | Coastal Contracts (+73%) | IOI Properties Group (+67.4%) | Eco World Development (+80%) |
Bursa Malaysia Ace Market:
On the other hand, the Ace Market is a sponsor-driven market designed for companies with growth prospects. Sponsors must assess the suitability of the potential issuers, taking into consideration attributes such as business prospects, corporate conduct, and adequacy of internal control.
#2 FTSE Bursa Malaysia KLCI Futures (FKLI)
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) is the go-to benchmark for the Malaysian stock market, representing the performance of the 30 largest companies on the Bursa Malaysia Main Market.
FKLI futures track the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) as its underlying instrument.
Why trade the FKLI?
- Gain leveraged exposure to the 30 largest companies listed on the Bursa Malaysia Main Market with a single futures contract.
- Freedom to go long or short. Express your trade ideas regardless of the direction of the market.
- Hedge against unfavourable moves in your stock portfolio via FKLI.
#3 Crude Palm Oil Futures (FCPO)
FCPO is a MYR-denominated Crude Palm Oil Futures Contract traded on Bursa Malaysia Derivatives.
Since 1980, it has provided market participants with a global price benchmark for the Crude Palm Oil Market.
Why trade the FCPO?
- Trade both directions. Be it bullish or bearish, you have the flexibility to express your conviction on the palm oil market via FCPO.
- Hedge against unfavourable price movement in the physical market. FCPO can be a useful hedging tool for plantation companies, refineries, and exporters.
- Gain leveraged exposure to the notional value of crude palm oil with a relatively small amount of capital (initial margin).
IBKR pricing & commission for Bursa Malaysia stock and futures market
IBKR offers access to Bursa Malaysia stock and futures market at a competitive price:
#1 IBKR pricing for Bursa Malaysia stocks:
| Monthly Trade Value (MYR) | Tiered Pricing |
| ā¤ 10,000,000 | Tier I - 0.08% of Trade Value, min. MYR 12 per order |
| 10,000,000.01 - 200,000,000 | Tier II - 0.06% of Trade Value, min. MYR 10 per order |
| 200,000,000.01 - 500,000,000 | Tier III - 0.05% of Trade Value, min. MYR 9 per order |
| > 500,000,000 | Tier IV - 0.03% of Trade Value, min. MYR 8 per order |
*Other non-IBKR fees are applicable: Exchange fees, regulatory fees & clearing fees
#2 IBKR pricing for Bursa Malaysia Futures
| Monthly Volume (Contracts) | Tiered Pricing |
| ā¤ 1,000 | MYR 4.00/contract |
| 1,001 - 10,000 | MYR 3.50/contract |
| 10,001 - 20,000 | MYR 3.25/contract |
| > 20,000 | MYR 3.00/contract |
*Other non-IBKR fees are applicable: Exchange fees & clearing fees
How to access/trade the Malaysia stock and futures market on IBKR?
Prerequisite: Open an IBKR account
To access the Malaysia stock and futures market via Interactive Brokers (IBKR), you must first open an IBKR account.
Refer to my step-by-step guide on how to open your IBKR account HERE.
Applying trading permission for Bursa Malaysia equities and futures market on IBKR:
Important Note: Equity trading on Bursa Malaysia (via IBKR) is not available to the residents of Malaysia.
p.s. You can still trade Malaysia's futures market if you are a Malaysian though!
To being trading Malaysian stocks/ETFs and futures on IBKR, you'll have to first apply for trading permission on the platform.
If not, you'll see a 'No market data permissions for BURSAMY STK' sign on each Malaysia-listed counter.
You'll also be required to request for 'Trading Permission' if you haven't done so:
Step 1: Activate trading permission
Log in to your IBKR account HERE. Head on to Settings and select 'Trading Permissions'.
Step 2: Select 'Stocks' or 'Futures' depending on your need
Step 3: Tick Malaysia, then click 'Continue'
Step 4: Once your trading permission is approved, you'll be able to start trading the Malaysia stock/futures market!
You can start trading the Malaysia stock/futures market once your trading permission request is approved!
Verdict ā Trade the vibrant Malaysia stock and futures market with IBKR!
As a Malaysian, I am excited that IBKR is opening up access to Malaysia's stock and futures market to global investors.
The vibrant offering of the Malaysia stock and futures market will make it a great choice to invest in one of the brightest emerging markets in Southeast Asia, and even the world.
Explore IBKR to trade the Malaysia stock and futures market today!
Disclaimer:
This review is purely based on my personal experience and is updated as of the time of writing.
This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.
Any trading symbols, entities or investment products displayed are for illustrative purposes only and are not intended to portray recommendations.
Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com.
Any discussion or mention of an ETF is not to be construed as a recommendation, promotion or solicitation. All investors should review and consider associated investment risks, charges and expenses of the investment company or fund prior to investing. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Guide & Tips: How to withdraw funds from Interactive Brokers (IBKR) via Wise
In this post, letās explore how to withdraw the funds from your Interactive Brokers (IBKR) account via Wise.
This is the fastest and most convenient way to withdraw funds from your Interactive Brokers (IBKR) account.
This guide is especially suitable for non-US residents (eg. Singapore, Malaysia, and more) ā any questions feel free to leave them in the comment section at the end of this post!
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Part 1: Withdraw funds from Interactive Brokers (IBKR) via Wise
In this guide, I will demonstrate how to withdraw USD from my IBKR account via Wise. Using Wise to withdraw funds from IBKR is the fastest and most convenient method.
Perk: 1x FREE Wise withdrawal every month
What's great about withdrawal with Wise is that 1x FREE withdrawal is allowed every calendar month.
Hence, you do not have to pay additional fees if you only withdraw occasionally from your IBKR account.
Any subsequent withdrawal within a calendar month will have a small charge of USD 1.
Overall fee/cost involved for IBKR to Wise withdrawal:
- Part 1: IBKR to Wise withdrawal: 1x FREE withdrawal every calendar month, USD 1 for each subsequent withdrawal.
- Part 2: Wise to local bank account: Exchange rate + Wise fee.
Pre-requisite: Open a Wise account and make a deposit to your Wise balance
Before you begin, be sure to open a Wise account first if you do not have an account.
Step 1: Log in to your Interactive Brokers (IBKR) account, and select 'Withdraw'
Step 2: Select your withdrawal currency (USD, for this example), and select 'Transfer to Wise Balance'.
Step 3: Cross-check your Wise account details before proceeding.
Step 3 will be a one-time process. Once done, you will be able to skip this step in all your future IBKR-Wise withdrawals.
[Note for new Wise-IBKR users] If this is your first time using Wise with your IBKR account, you might not see the screenshot above. Don't worry, there is just an additional step that requires you to connect your Wise account with IBKR first, and you will be good to go.
To learn more about how to connect your Wise account to IBKR, check out Step 3 of my Wise-IBKR deposit guide HERE.
Next, you will be required to check and confirm your Wise account details again. Once done, leave your signature AND username & password to confirm the details.
Then, you'll be shown that your Wise bank account details have been confirmed. Select 'Finish'.
Step 4: Proceed with our IBKR withdrawal via Wise
Select 'Make a Withdrawal'.
Select 'Transfer to Wise Balance'.
Proceed to key in the amount you want to withdraw from your IBKR account.
For this demonstration, I will withdraw USD 55 from my account.
You will be shown the screen below once your IBKR-Wise withdrawal is done:
Step 5: Check your Wise withdrawal status under 'Transaction Status'
Step 6: Money arrived at your Wise account
It took about 1 working day for the withdrawal to reach my Wise account
Part 2: Transfer money from your Wise account to your bank account
Once your fund reaches your Wise account, the next thing is to transfer the fund back to your local bank account in your local currency.
For my case, I will have to convert & transfer my USD 55 IBKR withdrawal to Malaysian Ringgit (MYR) in order to send it back to my local bank account. But this method should work for most other currencies.
Step 1: Log in to your Wise account, and select 'Send'
Step 2: Choose to send money from your Wise balance (USD)
Step 3: Determine your transfer amount, check for the fees incurred (Wise fee + Exchange rate), and select 'Continue'
Step 4: Choose to send money to your local bank account.
Step 5: Review and confirm your transfer. You should receive your transfer in your bank account immediately once done.
Verdict - Withdrawing from your IBKR account is never easier
With platforms like Wise, it is extremely fast & convenient to withdraw from your IBKR account.
Do you have any other tips on how to withdraw from your IBKR account? Feel free to leave your tips and thoughts in the comment section below!
Disclaimer:
This review is purely based on my personal experience and is updated as of the time of writing.
This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.
How to research for quality Malaysia REITs? My top 5 steps, revealed! (via moomoo app)
Real Estate Investment Trusts (REITs) are companies that own income-producing real estates, such as shopping malls, offices, warehouses, and hospitals.
In Malaysia, publicly-listed REITs have been well-received among dividend investors thanks to REITs' tendency to pay a competitive dividend yield:
As a dividend investor, Malaysia-listed Real Estate Investment Trusts (REITs), such as IGB REIT and Axis REIT make up an important portion of my Freedom Fund portfolio:
In this post, let me walk you through 5 key steps on how I use the handy features within the moomoo app to research for REIT!
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[š p.s. Exclusive 2x RM20 cash coupons for No Money Lah readers! Use promo code 'NML01' when depositing to claim your exclusive reward. Refer to 'Account Opening & Deposit Promotion' section of this article to find out more!]
My 5-step approach to REIT research (via moomoo app)
Personally, if I were to start from zero, I'd generally start my research from a top-down approach with a few key questions:
- Entire sector: How is the REIT sector doing compared to other sectors?
- Within the sector: Which REIT is the top-performing Malaysia REIT?
- REIT vs REIT: How is a particular REIT doing compared to another?
- Individual REIT study: How good/bad are the fundamentals of the REIT?
- Is a REIT overvalued/fairly valued/undervalued?
For that, I find the suite of features within the moomoo app very handy in my research.
Moomoo MY offers beginner-friendly stock research tools
The features & tools on the moomoo app are also very beginner-friendly, as there are easy-to-understand explanations for the financial terms & indicators in the app:
Step 1: How is the REIT sector doing compared to other sectors?
**Before we start, it is important to note that the tools & features that I show below can be used for stocks from other sectors as well.**
To begin, open the moomoo app, select 'Markets' and select 'MY' which indicates the Malaysia stock market:
Feature #1: Heat Map
With the Heat Map feature in the moomoo app, I can see how, as a whole, the REIT sector performs relative to stocks from other sectors in Malaysia.
- Step i: Select Heat Map, and change the view to list view.
- Step ii: Under 'Filter', select 'YTD' which will show us the Year-to-Date performances of each sector:
- Step iii: Sort the performance from highest to lowest:
From this, we can see that the entire REIT sector has been showing a positive Year-to-Date (YTD) performance of 11.62% in 2024:
Step 2: Which REIT is the top-performing REIT?
Next, I'd also like to find out which REIT is the top-performing REIT Year-to-Date.
Feature #2: Compilation of stocks within the same sector
To do so, select 'Real Estate Investment Trusts' from the Heat Map:
- Sort 'YTD' from largest to lowest to view the best-performing REIT year-to-date (YTD).
As of the time of writing this article (Sept 2024), REITs like Pavilion REIT (+26.58%), and IGB REIT (+24.64%) have been outperforming the return of the entire REIT sector (11.62%) year-to-date.
- Sort 'Market Cap' from largest to lowest to view the largest REIT by market capitalization.
Generally, companies with a larger market cap tend to be more established relative to companies with a smaller market cap.
Step 3: REIT vs REIT: How is a particular REIT compared to another?
Want to compare which REIT is better in terms of their dividend yield, and other fundamentals like Earnings Per Share (EPS) and Net Margin?
'Compare' is a powerful feature in the moomoo app that allows me to compare up to 7 stocks side-by-side.
Under 'Compare', I can have all important insights of multiple companies at a glance, such as Dividend Yield, financial indicators, and valuation indicators.
Feature #3: Side-by-side stock comparison
- Step i: Start by selecting a REIT that you'd like to compare. For this demonstration, I'll be selecting IGB REIT.
- Step ii: Select the 3-dot button at the bottom right to activate the expanded menu. Next, select 'Compare'.
- Step iii: Use the '+' icon to add up to 6 other REITs for comparison. For this example, I'll add Pavilion REIT (PAVREIT) and Atrium REIT.
We can get many important insights from the 'Compare' feature. Some key insights that I look for include:
- Price trend comparison over different timeframe (1/3/6-month, 1 & 3-year, and YTD performances)
With this, I can compare the performance of all 3 REITs from a shorter time frame, or even for the past few years.
From a 3-year price trend timeframe, IGB REIT is the top performer among all 3 REITs.
- Dividend yield TTM (Trailing 12-month)
Dividend yield TTM indicates the dividend yield (%) after taking into account of the distribution for the past 12 months.
Atrium REIT comes out top in terms of yield (5.76%), follow by IGB REIT (5.17%) and PAVREIT (3.78%).
- Valuation indicators like Earning-Per-Share (EPS)
EPS measures a company's profitability per unit of the company's outstanding shares.
Generally, a high EPS indicates greater value because investors tend to pay more for a company's shares if they think the company has higher profits relative to its share price.
IGB REIT comes top with the highest EPS among 3 REITs.
- Financial indicators like Return of Equity (ROE), Net Margin, Debt to Asset, Current Ratio
On it's own, financial indicators may not mean much, but there are many insights that we can gather by comparing companies side-by-side.
- To start with, among 3 REITs, IGB REIT has the highest Return on Equity (ROE), which signals that IGB REIT uses its shareholder's equity more efficiently to generate income.
- Next, IGB REIT also has the highest Net Margin, which means it is making the most in terms of net profit per dollar of revenue gained.
- IGB REIT also has lowest Debt to Asset, which indicates that only 26.66% of the assets own by IGB REIT is financed by debt, with the rest owned by shareholders.
- Finally, IGB REIT has the highest Current Ratio of 1.16. A current ratio 1.16 means that IGB REIT has 1.16x more in current assets (eg. cash, short-term receivables), which is enough (>1.0) to cover its short term liabilities (short-term debt).
Step 4: Individual REIT study
In Step 3, we've compared REITs side-by-side. Let's look at how we can use features within the moomoo app to conduct research on an individual REIT.
For this study, let's use IGB REIT, which has displayed an overall competitive dividend yield and decent financial health in Step 3.
Feature #4: Stock insights within the moomoo app
Start by searching for IGB REIT in the moomoo app. Then, select 'Company'
A few key insights that I'll normally look at are:
- ļ¼1) Dividend payout consistency or Dividend growth
As a dividend investor, I prefer REITs with a consistent dividend payout, even better are those with a track record of growing their dividends.
With IGB REIT, it has raised its dividend per share (DPS) for the past 2 years since recovering from the pandemic in 2021:
- (2) Company overview
It is also important to know what does a company do while doing a research.
IGB REIT manages 2 retail malls in Klang Valley, namely Mid Valley Megamall and The Gardens Mall.
- (3) Financial strength
Finally, I like to dive into the financials of a REIT. For this, I sort the financials on an 'Annual' basis:
(i) EPS: IGB REIT has been showing strong earnings recovery after the pandemic, which is encouraging for a REIT managing retail malls.
(ii) Net margin: IGB REIT has also shown an increase in net margin post-pandemic, indicating rising profitability.
Step 5: Is a REIT overvalued or undervalued?
To find out if a REIT is overvalued, fairly valued, or undervalued, I usually like to compare its share price to Net Asset Value (NAV) Per Unit:
- NAV Per Unit= (Total Asset - Total Liabilities)/Shares outstanding
In general:
- REIT share price > 3x NAV Per Unit = Overvalued
- REIT share price > NAV Per Unit, but <3x NAV Per Unit = Fairly valued
- REIT share price < NAV Per Unit = Undervalued
How to get NAV on moomoo app?
Let's find out if IGB REIT is over or undervalued:
- Step (i): Find out the total shares for a REIT.
- Step (ii): Deduct Total Assets and Total Liabilities to get Net Asset
Using the latest quarter (Q2 2024) available as reference, IGB REIT has a total assets of RM5.5B and total liabilities of RM1.47B.
Hence, the latest Net Asset Value (NAV) of IGB REIT is RM4.03B.
- Step (iii): Calculate Net Asset Value (NAV) per unit
NAV Per Unit of IGB REIT = NAV/Shares outstanding = RM4.03B/3.61B = RM1.11/unit
As of 10/9/2024, IGB REIT's share price is RM2.04. This makes the share price larger than IGB REIT's NAV per unit of RM1.11 (Price > NAV Per Unit), BUT lower than 3x NAV Per Unit of RM3.33 (Price < 3x NAV Per Unit).
Hence, we can conclude that IGB REIT is currently fairly valued and we can make our investing decision accordingly.
Quick Guide: How to buy your first stock via moomoo app
Looking to place your first stock, REIT, or ETF trade on the moomoo app?
Here's a quick guide on how to place your trade:
- Step (i): Search for the stock that you'd like to buy, and select 'Trade'.
- Step (ii): Choose the order type for your trade. The moomoo app has a suite of basic to advanced order types, alongside the explanation of how each works.
- Step (iii): Select your trade quantity.
- Step (iv): Review the amount needed for the trade. Ensure you have enough cash to place your trade under 'Max Qty to Buy (Cash)', or enough buying power if you trade on margin under 'Max Qty to Buy (Margin)'.
- Step (v): Proceed to place your trade by clicking the 'Buy' button.
Verdict: Make stock research a breeze with the powerful tools & features in the moomoo app!
Having used Moomoo MY since its launch in early 2024, I find the moomoo app to be one of the most feature-packed, yet user-friendly investing platform that I've used so far.
I hope this walkthrough of my REIT research showcase inspires you to explore the features in the moomoo app to improve your investment research process!
Disclaimers:
All views expressed are the independent opinions of myself, which are not shared by Moomoo Securities Malaysia Sdn. Bhd. (āMoomoo MYā). No content shall be considered financial advice or recommendation. Moomoo MY links are included in this post, through which referrals are made and I may receive certain commissions. Please contact Moomoo MY for more information.
Wise or Instarem? - IBKR Funding Methods Compared!
Interactive Brokers (IBKR) is one of the most complete global brokers that I've used in my investing journey.
It offers users access to over 150 markets in 33 countries at a highly competitive commission. Moreover, IBKR users gain access to a huge variety of products/instruments such as stocks, bonds,Ā ETFs, FX, futures.
As an IBKR user, I find Wise and Instarem to be 2 of the best methods to deposit funds to my IBKR account.
However, which one should you choose?
In this post, let me compare Wise and Instarem deposit methods, and see which is a more ideal IBKR deposit method!
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--
p.s. A word to fellow readers:
Dear friends, if you find this post helpful, Iād appreciate it if you can click on the button below to learn about IBKR via IBKRās official site.
Doing so will help the earn the blog a small fee at no extra cost to you.
This will help supporting the blog in creating more useful content ā thanks in advance my friends!
#1 Fees & Exchange Rate Comparison
Firstly, let's compare the fees and exchange rate if we were to use Wise and Instarem to fund our IBKR account.
Scenario #1: RM1,000 MYR-USD transfer
For this, I take similar RM1,000 MYR-USD transfers and see how much we have to pay in fees, as well as the exchange rate for both platforms:
Putting the info side-by-side, we can see that:
| Wise | Instarem | |
| Fee for RM1,000 MYR-USD transfer | RM8.90 | RM5.50 |
| Exchange Rate (as of 3/5/2023) | 0.224593 | 0.2243 |
| Final amount in USD | USD 222.59 | USD 223.07 |
- Instarem offers a cheaper fee of RM5.50 for my RM1,000 MYR-USD transfer.
- Wise offers a more competitive exchange rate of 0.224593 compared to 0.2243 from Instarem. (Rate as of 3/5/2023)
- That said, taking into account of fee + exchange rate, I'd still get slightly more USD from Instarem for my transfer.
Scenario #2: RM10,000 MYR-USD transfer
Let's see if a larger transfer amount of RM10,000 MYR-USD transfer would make any difference:
Does a larger transfer amount make any difference for the fees?
Putting the info side-by-side, we can see that:
| Wise | Instarem | |
| Fee for RM10,000 MYR-USD transfer | RM69.69 | RM60 |
| Exchange Rate (as of 11/5/2023) | 0.224090 | 0.2238 |
| Final amount in USD | USD 2225.28 | USD 2224.57 |
- Instarem still offers a cheaper fee of RM60 for my RM10,000 MYR-USD transfer.
- Wise still offers a more competitive exchange rate of 0.224090 compared to 0.2238 from Instarem. (Rate as of 11/5/2023)
- However, this time around, Wise is able to transfer slightly more USD in my RM10,000 MYR-USD transfer.
Summary: Use Instarem for smaller amount transfer, Wise for larger amount transfer
In essence, when you make a transfer in a small amount, Instarem's lower fee structure makes it up to a slightly high exchange rate.
On the other hand, in a bigger transfer, Wise's lower exchange rate is a better deal despite a higher fee.
#2 Deposit Process Comparison
There is a slight difference between Wise and Instarem when it comes to the deposit process to IBKR:
| Wise | Instarem | |
| Deposit Process | Transfer directly from Wise balance (easier) | ACH funding via Instarem |
Essentially, the biggest difference is when it comes to setting up the initial transfer.
- It is easier to set up a Wise transfer as IBKR users can make a transfer directly from their Wise account. Read about my full Wise-IBKR transfer guide HERE.
- As for Instarem, IBKR users will need to key in some additional details in order to set up an initial transfer. (though it is pretty simple as well) Read about my full Instarem-IBKR transfer guide HERE.
Summary: Wise provides an easier initial setup
Once the setup is done, all future transfers are very simple for both methods.
RELATED: Guide - How to fund your IBKR using Wise, Instarem, and SG bank account
#3 Deposit Speed Comparison
Fees aside, it is also important that my funds reach my IBKR account ASAP whenever I make my deposit.
So, how long does it take for my funds to reach my IBKR account with Wise and Instarem?
For this example, I did a transfer on both Wise and Instarem on the same day (3/5/2023), first with Wise, then Instarem a few hours later.
Let's look at the result:
(i) Wise-IBKR transfer: About 13 hours (<1 day)
I initiated my Wise transfer on 3/5/2023 after lunch and I receive my successful deposit notification from IBKR at 1:11am the next day (4/5/2023).
(ii) Instarem-IBKR transfer: About 14 hours (<1 day)
Meanwhile, I initiated my Instarem-IBKR transfer at late noon (4:38pm) on 3/5/2023. I received my successful deposit notification from IBKR at 6:33am the next day (4/5/2023).
Summary: Deposit speed is pretty much the same for Wise and Instarem
In essence, from my experience, there is no significant difference between the deposit speed of Wise and Instarem transfers.
I find both transfer experiences smooth and reliable.
Promotions for new Wise & Instarem users
(i) Wise
Support this blog by using my Wise referral link below!
(ii) Instarem: Get 200 InstaPoints (worth RM12) for your money transfer!
Open an Instarem account via my referral link by clicking on the button below, and get 200 InstaPoints (worth RM12) which can be redeemed for your money transfer (no min. transaction amount required)!
Verdict: Use Wise and Instarem to save on your IBKR deposit fee!
To summarize, for small amount transfers, Instarem-IBKR makes up for better value thanks to its lower fee structure. For bigger amount transfers, Wise-IBKR is better thanks to Wise's more competitive exchange rates.
Be it Wise or Instarem, both IBKR deposit methods allow users to save massively on fees & exchange rates compared to traditional foreign bank telegraphic transfer.
For new users of Wise and Instarem, I recommend taking advantage of the promotions so you can get more value out of your IBKR transfers!
Do you have any other tips on how to fund your IBKR account? Feel free to leave your tips and thoughts in the comment section below!
Disclaimer:
This review is purely based on my personal experience and is updated as of the time of writing.
This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.
Guide: How to invest in Canadian-domiciled ETFs via Interactive Brokers (IBKR)
As a non-US resident (Malaysian) writing about dividend investing, I often get questions from readers about how to invest in Canadian-domiciled ETFs.
The Toronto Stock Exchange (TSE) is Canada's main stock exchange where Canadian-domiciled ETFs are traded.
In this post, I'll walk you through (i) how to invest in the Toronto Stock Exchange (TSE) via Interactive Brokers (IBKR) and (ii) how to get live price feed for TSE (TSE) for free!
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Support this blog with a small gesture!
Dear friends, if you find this post helpful, Iād appreciate it if you can click on the button below to learn about IBKR via IBKRās official site.
Doing so will help the earn the blog a small fee at no extra cost to you.
This will help supporting the blog in creating more useful content ā thanks in advance my friends!
Why Canadian-domiciled ETFs over US-domiciled ETFs for non-US residents (Malaysia/Singapore)?
While investing, dividend withholding tax (WHT) is an important consideration - especially for dividend investors.
For non-US residents (eg. Malaysians, Singaporeans) looking to gain exposure to the US stock market, Canadian-domiciled ETFs offer a more efficient Dividend Withholding Tax (WHT) rates:
| Canada | US | |
| Dividend Withholding Tax (WHT) for Malaysians & Singaporeans (non-US residents) | 15% | 30% |
READ MORE: All you need to know about Dividend Withholding Tax (WHT)
Step-by-step: How to activate trading permission for Canada stock market in Interactive Brokers (IBKR)
My go-to broker to invest/trade Canadian-domiciled ETFs is Interactive Brokers (IBKR).
Aside from the Canada stock market, IBKR also offers access to over 150 markets in 34 countries, such as the US, UK, HK, Singapore, Australia, Europe, Japan, and more at a highly competitive commission.
In order to trade the Canada stock market, you'll first have to activate trading permission on IBKR:
To start, you'll need to have an IBKR account.
- To open an IBKR account, check out my full guide HERE. If you already have an IBKR account, log in to your IBKR account HERE.
Step 1 - 2: Go to the Profile icon at the top right corner, select āSettingā
Step 3: Select 'Trading Permissions'
Step 4: Under āStocksā, select āEditā
Step 5: Tick āCanadaā, and select 'Continue'
Step 6: If all is smooth, your submission will be approved almost instantly
How to get live price feed for Canada stock market (TSE) for free
By default, you'll get a 15-minute delayed price feed for the Canadian stock market in IBKR.
That said, you can activate live price feed for the Canadian stock market (TSE) for free. Here's how:
Step 1 - 2: Under Profile, select āSettingā
Step 3: Select āMarket Data Subscriptionsā
Step 4: Select āConfigureā
Step 5: Under āTrader Workstationā, select āNorth Americaā.
Next, under āQuote Bundlesā, select āCanadian Exchange Group & Montreal Derivatives Bundleā, which includes data to the Toronto Stock Exchange (TSE):
Note: As of this writing, the fees for live TSE price data are waived, but this might change in the future. Please always double-check if there are fees involved before proceeding!
Step 6: Select continue
Step 7: Your market data subscriptions will be confirmed
Now, as you trade Canadian-domiciled ETFs or stocks, you'll get live price feed instead of a 15-minute delayed price feed:
No Money Lah Verdict: Invest in Canadian-domiciled ETFs easily with IBKR!
With trading permission and live price feed for the Toronto Stock Exchange (TSE) activated, you can now invest in Canadian-domiciled ETFs easily.
I hope this is helpful and let me know in the comment section if you have any questions!
Disclaimer:
This review is purely based on my personal experience and is updated as of the time of writing.
This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.
Promotional Relationship Disclosure:
This content is provided by a paid Influencer of Interactive Brokers. Influencer is not employed by, partnered with, or otherwise affiliated with Interactive Brokers in any additional fashion. This content represents the opinions of Influencer, which are not necessarily shared by Interactive Brokers. The experiences of the Influencer may not be representative of other customers, and nothing within this content is a guarantee of future performance or success.
None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions. Risk disclosure statements can be found on the Interactive Brokers website.
Interactive Brokers is a FINRA registeredĀ brokerĀ and SIPC member, as well as a National Futures Association registered Futures Commission Merchant. Interactive Brokers provides execution and clearing services to its customers. For more information regarding Interactive Brokers or any Interactive Brokers products or services referred to in this video, please visitĀ www.interactivebrokers.com.
Any trading symbols, entities or investment products displayed are for illustrative purposes only and are not intended to portray recommendations.
The information in this podcast does not constitute tax advice and cannot be used by the recipient or any other taxpayer to avoid penalties under any federal, state, local or other tax statutes or regulations, or to resolve any tax issue.
Any discussion or mention of an ETF is not to be construed as a recommendation, promotion or solicitation. All investors should review and consider associated investment risks, charges and expenses of the investment company or fund prior to investing. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Guide: How to link your Interactive Brokers (IBKR) account and place trades on TradingView
Interactive Brokers (IBKR) has been my go-to broker for all-things global stocks and ETFs.
Meanwhile, TradingView is one of my top charting platforms thanks to its simple-to-use interface and feature-rich charting tools.
Wouldn't it be perfect if I could link my IBKR account to TradingView - so I gain access to the vast markets that IBKR offers while executing my trades on my favourite charting platform?
In this post, let me show you how to do so!
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Dear friends, if you find this post helpful, Iād appreciate it if you can click on the button below to learn about IBKR via IBKRās official site.
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This will help supporting the blog in creating more useful content ā thanks in advance my friends!
Step-by-step: Linking your Interactive Brokers (IBKR) account on TradingView
Pre-requisites: Opening your IBKR account
To start, you'll need to have an IBKR account and TradingView account
- To open an IBKR account, check out my full guide HERE.
- To open a FREE TradingView account, click HERE.
- If you already have an IBKR and TradingView account, move on to the next step.
Step 1 - 2: Look for Interactive Brokers (IBKR) under 'Trading Panel'
Under TradingView's charting interface, select 'Trading Panel' in the bottom section.
Then, look for Interactive Brokers:
Step 3: Once you select Interactive Brokers, click 'Connect'
Step 4 - 5: Log in to your IBKR account and authorize the linking of your IBKR account to TradingView
Once connected, you'll be able to see your IBKR account ID displayed on TradingView's bottom panel:
Executing a trade on TradingView with your IBKR account
In the previous section, we've successfully connected our IBKR account to TradingView.
Now, let's see how to execute a trade on TradingView with your IBKR account connected:
Step 1: At the search bar, search for the ticker/symbol of the stocks/ETF/instruments that you intend to trade
To see if the instrument is tradable on your IBKR account, keep the 'Interactive Brokers' icon selected.
Step 2: At the bottom panel, select 'Trade'
Step 3: Placing trades on TradingView
You'll be greeted with an execution panel. Here's how to execute a trade on TradingView:
- (a) Choose 'Order' to place your trades. Meanwhile, DOM (or Depth of Market) shows you the orders across each price level
- (b) Select 'Buy' to place a long trade and 'Sell' to close your trade (or place a short trade). The figure in the middle (0.04, for this example) shows the Bid-Ask spread - which is the difference between the best price that the buyers and sellers are willing to transact.
- (c) Order type: Choose your order types to execute your trade. The most common order types are:
- Market order: Allows investors to enter immediately at market price.
- Limit order: Allows investors to line up their orders to buy shares at a specific price or better.
- Stop Order: A BuyĀ Stop OrderĀ is an order that is triggered when the price hits a specific level defined by the investor.
- To learn more about the common Order Types on IBKR, check out my guide HERE.
- (d) Order sizing: Define your trade size either in (i) no. of shares you want to purchase OR (ii) monetary value of your trade
- (e) Optional: Set your Take Profit and/or Stop Loss level for your trade as you see fit. You can define them in Ticks value/Price level/Monetary value/% distance from your entry price. This feature is useful for traders with a pre-defined price level to exit their trades.
- (f) Determine Time-In-Force of your trade order: Time-In-Force determines how long your trade order will stay valid. 2 of the most common Time-In-Force mechanisms are:
- Day: A āDayā order will stay valid until the end of the trading session and cancel itself should the order is not filled.
- Good till Cancel (GTC): AĀ GTC orderĀ will stay valid until it is filled, or you cancel the order yourself.
- (g) Set your Order Routing (I will usually keep it to the default setting) and if you'd like your Take Profit (where applicable) to be triggered outside of Regular Trading hour (RTH).
- (h) Once you've done the selections above, select 'Buy' to proceed with your trade.
- (i, j) Check your trade details, and click 'Send Order' if all is okay. A confirmation pop-up will appear - select 'Accept' if you are aware and acknowledge the terms.
Once your trade is placed and executed, you'll be able to check for your trades under ' Trade History':
No Money Lah Verdict: Getting the best of both worlds with Interactive Brokers (IBKR) and TradingView
I hope this guide has been helpful!
IBKR and TradingView are my favourite platforms - for broker and charting respectively, and I am super happy to share how to combine both in my investing journey in a seamless manner - give it a try, you'll like it!
Disclaimer:
This review is purely based on my personal experience and is updated as of the time of writing.
This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.
Promotional Relationship Disclosure:
This content is provided by a paid Influencer of Interactive Brokers. Influencer is not employed by, partnered with, or otherwise affiliated with Interactive Brokers in any additional fashion. This content represents the opinions of Influencer, which are not necessarily shared by Interactive Brokers. The experiences of the Influencer may not be representative of other customers, and nothing within this content is a guarantee of future performance or success.
None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions. Risk disclosure statements can be found on the Interactive Brokers website.
Interactive Brokers is a FINRA registeredĀ brokerĀ and SIPC member, as well as a National Futures Association registered Futures Commission Merchant. Interactive Brokers provides execution and clearing services to its customers. For more information regarding Interactive Brokers or any Interactive Brokers products or services referred to in this video, please visitĀ www.interactivebrokers.com.
The projections or other information regarding the likelihood of various investment outcomes generated by the Tools mentioned in this video are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. It is important to understand that these projections are based on certain assumptions and models, and actual outcomes may differ significantly. Please note that results may vary over time.
Any trading symbols, entities or investment products displayed are for illustrative purposes only and are not intended to portray recommendations.
The information in this podcast does not constitute tax advice and cannot be used by the recipient or any other taxpayer to avoid penalties under any federal, state, local or other tax statutes or regulations, or to resolve any tax issue.
Any discussion or mention of an ETF is not to be construed as a recommendation, promotion or solicitation. All investors should review and consider associated investment risks, charges and expenses of the investment company or fund prior to investing. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Complete Guide: How to deposit funds to Interactive Brokers (IBKR) via Wise, Instarem, and SG Bank
In this post, let's explore the cheapest and most efficient ways to deposit funds into your Interactive Brokers (IBKR) account.
This guide is suitable for non-US residents (eg. Singapore, Malaysia, and more) - any questions feel free to leave them in the comment section at the end of this post!
RELATED:
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Support my blog with a small gesture below!
Dear friends, if you find this post helpful, I'd appreciate it if you can click on the button below to learn about IBKR via IBKR's official site.
Doing so will help the earn the blog a small fee at no extra cost to you.
This will help supporting the blog in creating more useful content - thanks in advance my friends!
Best ways to deposit/fund your IBKR account
There are 3 key ways to fund your IBKR account, namely through (i) Direct transfer from Wise balance, (ii) Direct ACH funding via Instarem, or (iii) Funding your IBKR account through a Singapore (SG) bank account.
Method #1: Funding your IBKR account from Wise balance (Easiest)
This is my preferred way to fund my own IBKR account as I find it the most straightforward method (though not necessarily the cheapest).
Fees incurred:
- Wise transfer fee
- Currency exchange rate
Pre-requisite: Open a Wise account and make a deposit to your Wise balance
Before you begin, be sure to open a Wise account first if you do not have an account.
Step 1: Fund your Wise account
Firstly, log in to your Wise account. Select the currency that you'd like to fund your IBKR account and click 'Add'.
Then, key in the amount you'd like to add, and proceed to fund your Wise account via FPX through your own bank account.
Step 2: Log in to your IBKR account, select 'Deposit'
Select your deposit currency (for me, I choose USD), and select 'Transfer from Wise Balance'.
Step 3: Log in to your Wise account and proceed to transfer your funds
Once your Wise and IBKR accounts are linked, you can proceed with your fund transfer.
Step 4: Transfer done - now just wait for your funds to reach your IBKR account.
From personal experience, it usually takes about 1 working day for the funds to reach my IBKR account.
Method #2: Funding your IBKR account through direct ACH funding via Instarem (Cheapest)
Meanwhile, funding your IBKR account via Instarem is the cheapest option. Don't worry, the funding steps are quite simple as well.
Fees incurred:
- Instarem transfer fee
- Currency exchange rate
Pre-requisite: Open an Instarem account
Before you begin, be sure to open an Instarem account first if you do not have an account.
Open an Instarem account via my referral link by clicking on the button below, and get 200 InstaPoints (worth RM12) which can be redeemed for your money transfer (no min. transaction amount required)!
Step 1: Log in to your IBKR account, select 'Deposit'
Step 2: Select your deposit currency, then opt for 'Direct ACH Transfer from your Bank'
In this example, I am using USD as my deposit currency. But the method should work for other currencies.
A warning pop-up will appear, saying that you must deposit from a US bank account - just proceed by choosing 'Yes'.
Step 3: You'll get 3 key info - a Routing Number, Virtual Account Number, and IBKR's address (address is not displayed in the screenshot below)
Take down these details. In the next step, you will need to use these details to initiate your Instarem transfer.
Step 4: Log in to your Instarem account and begin initiating your transfer
Step 5: Transfer done - now just wait for your funds to reach your IBKR account.
From personal experience, it usually takes about 1-2 working days (sometimes even faster) for the funds to reach my IBKR account.
Once the funds are deposited in your IBKR account, you will receive an email update from IBKR.
Method #3: Funding your IBKR account through SGD via a Singapore Bank (eg. CIMB SG)
The 2nd method is an alternative for Singaporeans and Malaysian users with a Singapore bank account.
Fees incurred:
- IBKR currency conversion rate, if you want to convert your SGD to USD in IBKR
- IBKR currency conversion fee (~USD2.00 - 2.50), if you want to convert your SGD to USD in IBKR
Pre-requisite: Open a Singapore bank account (CIMB SG)
For Malaysians that wish to open a Singapore bank account, you can consider opening a CIMB SG account, which can be done 100% online.
RELATED: Guide - How to open a CIMB SG account online
Step 1: Log in to your IBKR account, select 'Deposit'
Step 2: Select SGD as deposit currency, and get instructions for 'Bank Wire'
Step 3: Key in your SG bank account details and the amount you wish to deposit
Step 4: Initiate transfer from your SG bank account
Use the bank wire instructions from IBKR to make your transfer from your SG bank account.
Log in to your bank account to initiate transfer.
Step 5: Return to your IBKR account and click 'Finish'.
That's all - now you just have to wait for your funds to arrive in your IBKR account.
From personal experience, it usually takes about 1-2 working days for the funds to reach my IBKR account.
Once the funds are deposited in your IBKR account, you will receive an email update from IBKR.
Step 6: Convert SGD to USD in IBKR
If you want to convert your SGD to USD in IBKR to trade USD-denominated stocks, you can do so with the currency conversion feature in IBKR for a small fee.
In your IBKR dashboard, select 'More'.
Use your existing currency balance to convert to USD.
There will be a currency conversion fee/commission of around USD2.00 - USD2.50.
Verdict - Funding your IBKR account is never easier
With platforms like Wise and Instarem, it is extremely convenient to fund your IBKR account at a minimal fee.
Do you have any other tips on how to fund your IBKR account? Feel free to leave your tips and thoughts in the comment section below!
Disclaimer:
This review is purely based on my personal experience and is updated as of the time of writing.
This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.
Guide: Hereās a simple way to open multiple trading accounts at Interactive Brokers (IBKR)!
Do you have different investment or trading strategies that youād like to experiment with?
For instance, I have a short-term trading strategy that Iād like to implement, but I don't want to confuse it with the account I use for my long-term investments.
What can I do to separate my different trading activities?
In this post, let me show you how to open and link multiple trading accounts in Interactive Brokers (IBKR) to accommodate different purposes in your trading journey.
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Support my blog with a small gesture below!
Dear friends, if you find this post helpful, Iād appreciate it if you can click on the button below to learn about IBKR via IBKRās official site.
Doing so will help the earn the blog a small fee at no extra cost to you.
This will help supporting the blog in creating more useful content ā thanks in advance my friends!
Benefits of opening and linking an additional IBKR account:
- Separate accounts for different strategies or purposes
- Your newly created IBKR account is linked to your existing IBKR account, which means:
- Verdict:
Guide: Opening an additional Interactive Brokers (IBKR) account
Pre-requisite: Open an Interactive Brokers (IBKR) account.
To link multiple trading accounts in IBKR, Iād assume that you already have an IBKR account.
If not, check out my step-by-step IBKR account opening guide HERE.
Step 1: Log in to your IBKR account.
Click the button below to log in to your IBKR account.
Step 2: Under āProfileā at the top right corner, select āSettingsā.
Then select āOpen an Additional Account.ā
Step 3: Under āIndividual Brokerage Accountsā, select āIndividualā.
If you have a Joint account (ie. your account has 2 account holders) and want to open an additional trading account, create an account under āJointā.
Note: This guide will be focused on opening an additional account under āIndividualā.
Step 4: Complete āAbout Youā section
This includes personal information, such as your employment and source of funds.
For some, IBKR might have pre-filled the details based on your saved information.
Step 5: Complete Financial Information:
(i) Select your Account Type based on your trading needs
- Cash account: Trade based on the cash value of your account without the ability to borrow money on margin.
- Margin account (most common): Ability to borrow money to trade (ie. trade on margin), and can use unsettled funds to trade.
- Portfolio Margin account: Risk-based margin account and required to have options permissions and a Net Liquidation Value of at least 110,000 USD.
(ii) Select your Investment Objectives and Intended Purpose of Trading
- Investment Objectives: You can choose one or multiple investment objectives. Your selection will determine what investment products youāll be able to trade
- Trading permissions: Choose the products youād like to trade, in line with your investment objectives.
- Note: You can still modify your selection anytime after your account is open by visiting account settings.
- Potential issue: There might be instances where your investment objective clashes with your product selection. For this, you'll have to make necessary adjustments to your selections.
- Example: If I select Capital Preservation as my investment objective, and tick for permission for Futures trading, I will not be able to proceed and have to make adjustments to my selection(s).
(iii) Choose whether to enroll in Stock Yield Enhancement Program
Decide if you'd like to opt-in to IBKRās Stock Yield Enhancement Program,Ā which will pay you interest by loaning your shares to IBKR. This is optional.
Step 6: Review your details. Read & sign the agreements to proceed
Step 7: Once your application is submitted, you'll have to wait for your account to be approved
Step 8: Once your account is approved, you'll be informed via email:
At the same time, you may be required to review and confirm your account information before you can access your account:
Verdict: Open multiple Interactive Brokers (IBKR) accounts for different investment/trading strategies and priorities.
So there you have it - how to open an additional account on IBKR without having to go through the entire account-opening process all over again!
This feature makes it convenient for me to separate my long-term investment portfolio and shorter-term trading portfolio - so I'll never get confused with one another.
I hope this guide has been helpful - and if you'd like to learn more about IBKR, check out the button below!
Disclaimer:
This review is purely based on my personal experience and is updated as of the time of writing.
This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.
Promotional Relationship Disclosure:
This content is provided by a paid Influencer of Interactive Brokers. Influencer is not employed by, partnered with, or otherwise affiliated with Interactive Brokers in any additional fashion. This content represents the opinions of Influencer, which are not necessarily shared by Interactive Brokers. The experiences of the Influencer may not be representative of other customers, and nothing within this content is a guarantee of future performance or success.
None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions. Risk disclosure statements can be found on the Interactive Brokers website.
Interactive Brokers is a FINRA registeredĀ brokerĀ and SIPC member, as well as a National Futures Association registered Futures Commission Merchant. Interactive Brokers provides execution and clearing services to its customers. For more information regarding Interactive Brokers or any Interactive Brokers products or services referred to in this video, please visitĀ www.interactivebrokers.com.
The information in this podcast does not constitute tax advice and cannot be used by the recipient or any other taxpayer to avoid penalties under any federal, state, local or other tax statutes or regulations, or to resolve any tax issue.
Any trading symbols, entities or investment products displayed are for illustrative purposes only and are not intended to portray recommendations.
Guide: How to fund your Interactive Brokers account (IBKR) through Malaysian Ringgit (MYR)
As a blog that covers various topics on Interactive Brokers (IBKR), I've often received questions about the possibility of funding our IBKR account using Malaysian Ringgit (MYR).
In this guide, let me walk you through the steps to fund your IBKR account using MYR - and why I think there is a better approach to fund your IBKR account.
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Support my blog with a small gesture below!
Dear friends, if you find this post helpful, Iād appreciate it if you can click on the button below to learn about IBKR via IBKRās official site.
Doing so will help the earn the blog a small fee at no extra cost to you.
This will help supporting the blog in creating more useful content ā thanks in advance my friends!
Funding your IBKR account via MYR through Wise Balance Transfer
Pre-requisite: Open and fund your Wise account
Before you begin, be sure to open a Wise account first if you do not have an account.
Step 1: Transfer MYR to your Wise account
- Firstly, log in to your Wise account.
- Select your Wise MYR account, then choose 'Add'
- Key in the MYR amount you want to fund your Wise account with, and proceed with the funding process via FPX. There is no fee at this step if you are funding your MYR Wise account from a MYR bank account.
- Once your account is funded, you can proceed to Step 2.
Step 2: Log in to your IBKR account and select 'Deposit'
Step 3: Select 'Use a new deposit method', then choose 'Transfer from Wise Balance'
- Select 'Use a new deposit method'
- Choose MYR as your transfer currency, then select 'Transfer from Wise Balance'
Step 4: Log in to your Wise account and proceed to transfer your funds
- If this is your first time using a Wise transfer, you'll be required to link your Wise account with IBKR:
- Once your Wise and IBKR accounts are linked, you can proceed with your fund transfer. Select MYR as the currency that you'd like to use for the transfer.
- Finally, select the currency that you'd like to receive in your IBKR account. The costs involved in this transfer are:
- Fees charged by Wise (MYR 5.36 for this example)
- USD-MYR exchange rate by Wise
p.s. Note that the maximum amount for a MYR transfer is MYR30,000 per day.
Step 5: Confirm your transfer and select your reasons for transfer
Step 6: Transfer done ā now just wait for your funds to reach your IBKR account.
From personal experience, it usually takes about 1 working day for the funds to reach my IBKR account.
Tips on using MYR transfer to IBKR
Tips #1: Larger transfer amount = More savings in fees
Generally, the bigger the amount you transfer, the fee from Wise will become relatively more affordable:
- RM100 transfer (Fee: RM5.36) = Fee takes up 5.36% of the total value of transfer
- RM1,000 transfer (Fee: RM10.46) = Fee takes up 1.05% of the total value of transfer
- RM10,000 transfer (Fee: RM61.46) = Fee takes up 0.61% of the total value of transfer
Tips #2: The second MYR transfer option (Bank Transfer via Wise) charges a higher fee
There are 2 ways to execute a MYR transfer to IBKR. Both go through Wise to execute the transfer, but one is more expensive:
- Method 1: 'Transfer from Wise Balance' - Lower fee from Wise
- Method 2: 'Bank Transfer via Wise' - Higher fee from Wise
Is this my preferred option to fund my IBKR account?
Having the option to use MYR transfer to fund my IBKR account is a welcoming choice.
Personally, as someone investing mainly via USD, I'd still prefer to use direct USD transfer via Wise balance.
The process is almost similar, but there is a huge difference in fee:
(a) MYR Transfer via Wise Balance:
- Process: Deposit MYR in Wise > MYR is converted to USD by Wise during the transfer process
- Fee charged for transferring MYR 100 to IBKR: MYR 5.36
(b) USD Transfer via Wise Balance (my preferred method):
- Process: Deposit MYR in Wise > Convert MYR to USD in Wise > Use Wise to transfer USD to IBKR
- Fee charged for converting MYR to USD within Wise: MYR 0.54 (then, transferring USD from Wise Balance to IBKR is free)
READ MORE: Full Guide - How to do a USD transfer via Wise Balance
Verdict: A welcoming option to use MYR to fund our Interactive Brokers (IBKR) account
Here you go - my full walkthrough on how to fund your IBKR account using MYR!
I hope this is helpful, and has shown you another option to fund your IBKR account.
Disclaimer:
This review is purely based on my personal experience and is updated as of the time of writing.
This article may contain affiliate links that will earn the blog a small fee if you click on them. This comes at no extra cost to you as a reader.
Promotional Relationship Disclosure:
This content is provided by a paid Influencer of Interactive Brokers. Influencer is not employed by, partnered with, or otherwise affiliated with Interactive Brokers in any additional fashion. This content represents the opinions of Influencer, which are not necessarily shared by Interactive Brokers. The experiences of the Influencer may not be representative of other customers, and nothing within this content is a guarantee of future performance or success.
None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions. Risk disclosure statements can be found on the Interactive Brokers website.
Interactive Brokers is a FINRA registeredĀ brokerĀ and SIPC member, as well as a National Futures Association registered Futures Commission Merchant. Interactive Brokers provides execution and clearing services to its customers. For more information regarding Interactive Brokers or any Interactive Brokers products or services referred to in this video, please visitĀ www.interactivebrokers.com.
The information in this podcast does not constitute tax advice and cannot be used by the recipient or any other taxpayer to avoid penalties under any federal, state, local or other tax statutes or regulations, or to resolve any tax issue.
Any trading symbols, entities or investment products displayed are for illustrative purposes only and are not intended to portray recommendations.
There is a substantial risk of loss in foreign exchange trading. The settlement date of foreign exchange trades can vary due to time zone differences and bank holidays. The interest rate on borrowed funds must be considered when computing the cost of trades across multiple markets.
Performance Recap: How much dividend did my Freedom Fund paid me in 2025
When I started my Freedom Fund a few years ago, the direction was simple:
To build a low-maintenance portfolio that pays me steady dividends regardless of what season I am in life.
My goal?
- To have the choice to take a step back from work when my family requires more care and attention someday.
- To have the freedom to pursue my curiosity without the burden of cashflow.
- To be a mental buffer in a career full of uncertainties as a content creator.
p.s. You can check out my Freedom Fund HERE.
2025 Freedom Fund Recap
Here are some interesting highlights from 2025:
- Stock market dip in March - April: Added heavily when the market tanked due to Trump's tariff announcement.
- USD dropped 10% against MYR (from RM4.50 to RM4.05 by year end): This impacted me, as the majority of my holdings pay dividends in USD.
- That said, upon conversion, my yearly dividend income still grew to RM8,420 in 2025, a 18% growth compared to 2024 (RM7,135):
Low maintenance + Monthly Dividend Income
Most dividend portfolios pay quarterly, so you might see spikes in payout every few months.
On the other hand, I designed my Freedom Fund to have a steady monthly payout. Visually, you can see how my dividend income has spread more smoothly in the last 4 years:
Disclaimer:
Not buy/sell advice. Please do your own due diligence and seek guidance from a licensed financial planner before making any investment decisions.