Cheapest Way to Fund Interactive Brokers from Malaysia | CIMB SG + Wise Method

[@ZietInvests]

🔴Learn more about Interactive Brokers: www.interactivebrokers.com/mkt/?src=zietPY2&url=%2Fen%2Fwhyib%2Foverview.php%3Fnored%3Dt By just clicking the above link, you will be able to support my channel without any cost to you! Thank you so much! 🔵𝗚𝗲𝘁 𝗙𝗥𝗘𝗘 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 𝘄𝗶𝘁𝗵 𝗪𝗶𝘀𝗲 (𝘂𝗽 𝘁𝗼 𝗥𝗠 𝟮,𝟱𝟬𝟬) ➡ wise.com/invite/u/weif84 If you are having issues converting your currency, try changing your base currency in your account settings (IBKR web portal). When you convert your currency, the fee taken by IBKR will be denominated in your base currency.

[@alexisfreestyle]

What about withdrawing USD from broker account back to MYR in msia banks? Do you have suggestions on how we can save on the currency exchange fees, thanks in advance

[@ZietInvests]

@@alexisfreestyle Check out this video for USD withdrawal back to MYR: kzbin.info/www/bejne/bIWtlH2rq9ODa8U The only way to save on currency exchange fees is to setup a CIMB SG bank account and local transfer from IBKR for free: kzbin.info/www/bejne/n5bagX2NZ7t5rM0 Then from SGD just pull it back to MYR with Wise

[@xuinnielee1885]

@@ZietInvests Only CIMB SG bank? What about UOB bank SG?

[@alexisfreestyle]

@@ZietInvests Thank you!

[@ZietInvests]

@@xuinnielee1885 Any SG bank will work 😊

[@OthmaneHustle]

Hi Ziet , Firstly i appreciate your effort for replying to every single comment and i actually in love with your content , My question is it important to open a malaysian bank account ?! or i can use wise directly using my bank !

[@ZietInvests]

HI buddy, you can use Wise directly from your bank, but I would highly recommend getting the CIMB SG bank account (or just any SG bank account)!

[@hofattng6361]

Ziet, I managed to increase my daily limit. Thank you

[@ZietInvests]

Awesome!

[@drmelodyang2198]

@@ZietInvests is there a guide that I can follow to increase my daily limit for my SgCIMB account from Malaysia please?

[@Dc-ml2gl]

Thank you so much formaking this video, was so helpful for me cuz it was my first time! Tq Tq!

[@ZietInvests]

You're most welcome!! Welcome onboard IBKR!

[@habibbihir]

Hi.. excellent video guide. Please add a little bit on activating the CIMB Clicks Digital Token.

[@ZietInvests]

Hi habib, apologies as I missed that part, i have covered it on my instagram story from time to time but feel free to DM me again anytime if you need any help! I might reconsider doing an update on the cimb sg video in the middle of next year 😁

[@dclee9836]

Ziet's videos helped me to start trading in US. Good videos!

[@ZietInvests]

Yayyyy to the moon we go 🚀🚀🚀🚀

[@bryanchin9490]

Hey Ziet, just to help shed some light. There are no bank charges if we send our money from CIMB MY to CIMB SG so we can do it directly

[@ZietInvests]

Hi Bryan, that is correct, but after the conversion losses, the net difference between both of them is pretty negligible. One can get away without Wise too but this was only made possible recently when cimb removed their transfer fee between cimb my and cimb sg (not sure if its only temporary/seasonal)

[@jacksonitsme]

If you transfer 1000sgd every month, one month would cost you about 25myr conversion rate, total it up for a year would be about 300myr... That's just small amount of money, but if it's large amount you would definitely see the difference 🤔

[@puiyinchai1437]

Great content bro.

[@ZietInvests]

Hehe thank you 🥰🥰

[@wileyw]

Can bind between IBKR with Wise ACH. Deposit fund can use Malaysia local bank, so I think the process could be more cheaper and efficient like this : Any MY bank -> Wise USD -> IBKR USD via ACH. Not sure how much we can save here.

[@ZietInvests]

I think the saving is the same as this: kzbin.info/www/bejne/borIdYdopNFkgZI

[@zulhusni5330]

Hi Ziet. First of all, i love your content! Im currently setting up my IBKR account by following your step by step guidance. I have a question, if i may ask for your advise, if i use only client portal on web browser to trade, do i need to subscribe to market data? Or i can simply trade without subscribing to market data? Thanks in advance!

[@ZietInvests]

Hi Zulhusni! You don't need to subscribe to market data at all (I'm am investor with IBKR for almost a year now and I've always depended on external sources for near to real-time data, such as Google Finance, Marketwatch, investing.com, Yahoo Finance). You can refer to this video too: kzbin.info/www/bejne/iaSXZKSIrZxjn8U That aside, I have a video (IBKR Web Portal tutorial) addressing this too next Friday, so stay tuned! Hope this helps!

[@TTVBTW]

Great video! i have a question about deposit fee, i read in the website theres 50sgd for every deposit, but cannot find the calculation in the video

[@ZietInvests]

Hi there, depends on how you plan to deposit money in. Which currency are you funding? If you deposit in with a currency that they accept such as SGD or USD then it should be free of charge, unless you are doing Foreign Telegraphic Transfer from your bank then you will be subjected to agent bank fee.

[@TTVBTW]

@@ZietInvests thank you 👍🏼

[@ZietInvests]

@@TTVBTW most welcome!

[@auroura4826]

hi! :) could you do a video on the cheapest way to fund interactive brokers from Singapore?

[@ZietInvests]

Hi there, you can actually just FAST Transfer from any SG bank account into IBKR like what i did here with CIMB SG! It’s the same wire transfer process

[@matthew85208520]

Just what I needed to find out, thanks! But, how about withdrawing funds ?

[@ZietInvests]

Cheers Matthew, refer to this video for withdrawal: kzbin.info/www/bejne/bIWtlH2rq9ODa8U

[@또야아빠-s8j]

Hi... I really enjoyed your video. I want to trade American stocks like you. I have a question. I am a foreigner in Malaysia and have only HSBC account. Then can I open an HSBC Singapore account and invest in stocks like you?

[@ZietInvests]

Hi there, you can definitely do that yes! Replace CIMB SG with HSBC SG :)

[@KevinLiew]

Hi, thanks for all the video. I created an IBKR by watching your previous video. Question, if I already have some SGD in WISE, I assume I can transfer that SGD amount to CIMB SG and then to IBKR?

[@ZietInvests]

Hi Kevin, yes you can do that!

[@liankokkeong9752]

is this method still cost saving in 2024?

[@dreamdancer84]

Hello, thanks for this, I'm new to this. Can someone explain why do we need to open an SG bank account (ie. Why does the money need to go through an Sg bank) instead of transferring directly from a Malaysian bank account to Wise and then to Interactive broker? Am I missing something?

[@ZietInvests]

Hi, before Wise was able to do this without any hiccups, having a SGD bank account is the cheapest method because IBKR accepts SGD natively, alongside other major currencies like USD, GBP etc. but not MYR, hence why Malaysians can opt for a SGD bank account (CIMB SG) from Malaysia since local SGD-SGD transfer is free. Hope this explains!

[@gordontardio4368]

As I have multi currency account with hsbc in M'sia, isn't it simpler for me to keep it all in S$ (what I have now , and some USD) or convert within the bank if I bank in MYR? Also will IB accept my S$ from my M'sian HSBC acc.. thanks.

[@ZietInvests]

Hi Gordon, you would have to check whether HSBC MY allow you to transfer SGD out to IBKR (SGD) ~ the reason why i never covered multi currency account by HSBC is due to certain limitations and outbound transfer fee, which can be eliminated by having a CIMB SG account in the first place (but of course, i understand the hassle of opening one). To convert or not, that depends on your objective, note that each conversion in your HSBC app would probably incur conversion losses (a spread that HSBC takes as "fee" although it is "free-of-charge")

[@kevinlim9702]

Hi Ziet, can you do a tutorial on how to transfer from CIMB SG to Wise? Bcs there is no option for online banking from Cimb SG to Wise. It seems i have to do it via Cimb Sg to Cimb MY only, cannot do it through Wise. Is it possible?

[@ZietInvests]

Hi Kevin, can try checking out this video, it should be possible: kzbin.info/www/bejne/nYu0eHepmKioqNE

[@peiseal1030]

Hi Ziet, thank you for this straight-to-the-point video! I have a question - I have funds in HK account in HKD, but residing in Malaysia now, shd I open IBKR account from Malaysia and transfer funds directly from my HK bank (convert to USD)? Thank you!

[@ZietInvests]

Hi there! I believe you can directly transfer HKD from your HK bank into IBKR, no need to additional MYR conversion. Once arrived in IBKR (HKD), you can convert within IBKR into USD :)

[@peiseal1030]

@@ZietInvests thank you so much, Ziet! Love your videos!

[@ZietInvests]

@@peiseal1030 Thank you!!

[@unityalbertlow3393]

Hey , ziet recently i had successfully open IB account which still not yet funding , but when i go through your youtube video saying that we need to open the tradestation global under IBKR , actually what's different ? but i also follow your step to open account Tradestation Global using your youtube link , but right now still pending for National IC verified , system keep on saying can't verified ( almost 3 days saying same things) , my main purpose is trading for Option, what's your suggestion ? thanks for advise

[@ZietInvests]

Hi Albert, I think i've answered your question on another video - the difference is TSG is an introducing broker (like an agent) that absorbs the inactivity fee imposed by IBKR, but recently IBKR just removed the inactivity fees (refer this video: kzbin.info/www/bejne/nKfaoHWgfLV6brs), making IBKR a better choice overall, but TSG is not bad either. If you are actively trading, it will be most cost effective to trade with IBKR (yes you can open another IBKR account even though you have a TSG-IBKR account). That said, you can always email TSG at ([e-mail]) to assist you in getting your IC manual verification done.

[@waichow9340]

hi Ziet, tks for the great video. i just done transfer from cimb sg to IBKR bank a/c. Understanding that the transfer will take one business day. Mean whiles, possible to check from either cimb sg or IBKR client portal whether or not the transfer is in process?

[@ZietInvests]

Hi, during trading days usually within few hours the SGD will reach IBKR SGD account ~ You can see from your transfer slip (CIMB SG) that your funding is successful, but it takes time for it to be reflected in your IBKR SGD account

[@waichow9340]

hi Ziet, encounter a problem after submiting for currency convertion SGD -> HKD. A message appear stated order not accepted, insufficient cash -2.00 USD in my account. Why ? Thks for your advise bro.

[@graceglory7507]

hi, just want to know, does ib pay interest on the money we deposit in if i havent buy stock yet? thank you

[@ZietInvests]

Hi grace, from my knowledge, they require quite a high amount of cash to be eligible for interest, can read more here: www.interactivebrokers.com/en/index.php?f=46385

[@salminqorn]

how about tax income? if we based in malaysia but doing trade in us market

[@ZietInvests]

Hi Sally, you can refer this video: kzbin.info/www/bejne/fWHPlZWMh6msn8k

[@ONG-yo8gr]

hi bro, if i don't have cimb malaysia, and i have maybank or wise , can i use these 2 account to purchase S&P500 from interactive brokers?

[@ZietInvests]

Hi, you can definitely do that, refer this video for funding with Wise account: kzbin.info/www/bejne/mnu8q3t7o6ebgNU

[@choongching]

Hi Zeit, I'm planning to initiate my 1st deposit to my IBKR. Is there a min amount that we need to hit?

[@ZietInvests]

Hi, there is no minimum, so you can fund any amount

[@Yrmom333]

Hi, ziet, when i wanna transfer money from my sg account to IBKR it says need to obtain OTP from security device, do you know what it mean by security device ?

[@ZietInvests]

Hi Jun Ee, can refer pinned comment of my CIMB SG video, basically you just need to download CIMB SG Mobile app to setup digital token on the app to approve your transactions - should be pretty simple, else you can DM me on instagram. Hope this helps!

[@Yrmom333]

@@ZietInvests omg i just cant believe that u replied every single one of our reply, u are too underrated, thankss!!

[@ZietInvests]

@@Yrmom333 😝 as long as it helps!

[@HH-fl1dc]

Hi Zieman, quick question. What if i transfer from my Maybank account in Malaysia to my CIMB SG account via wise instead? Are there any extra fees charged? Thank you for your help in advance.

[@ZietInvests]

Hi, when you are using Wise, you can use any Malaysian bank to pay Wise, its the same cost :)

[@HH-fl1dc]

@@ZietInvests thank u so much! And my apology for the typo on your name. I just realized. Thank you again and great job at what you’re doing. I really appreciate your talent and hard work 😊

[@Henry-kx8ql]

Hi Ziet, if I don't convert my currency from SGD to USD/HKD before trading, am I still able to buy US/HK stocks directly? Will IBKR convert the currency automatically when I buy US/HK stocks?

[@ZietInvests]

Hi Henry, you need to manually convert to USD/HKD to buy. They used to be able to auto convert for each trade (at 2 USD each conversion) while I was at TSG, but recently I've realised that (after delinking from TSG) it needs to be done manually. Not the hardest thing to do by all means, just a click of a button + 2 USD.

[@Henry-kx8ql]

@@ZietInvests ​ @Ziet Invests yes, it is easy to convert currency, but sometimes I may miss the "good time" to buy some stocks (when the stock market is just crash for 1 to 2 days before it rebound back), for example, the recent crash of Chinese tech stocks as it still needs 2 settlement days before I can use to USD/HKD fund to trade.

[@ZietInvests]

@@Henry-kx8ql Haha no worries man, no one can time the market perfectly, I'd prefer to just buy consistently whenever I have extra cash and keep some as spare 😊

[@frz3505]

So sir , is is still cheaper by doing this long process of transferring & converting instead by using MIDF broker straight away?

[@ZietInvests]

Yes, because you can store USD (so convert everything at one shot), compared to MIDF Invest have to convert to USD everytime you trade

[@hanzechou8340]

can I use cimb bank malaysia to make this transaction? Been following since the brokers comparison video. Naise

[@ZietInvests]

Hi Han, what do you mean by that yeah? Use CIMB MY to bypass directly into USD/SGD?

[@hanzechou8340]

Oh right. I didnt realise if i use CIMB Malaysia means I'm doing international transfers. I think i have just figured it out. Haha

[@hanzechou8340]

Thanks for replying.

[@shamilzaki6261]

Hi Ziet, do u know how much it will cost to transfer from CIMB MY to CIMB SG? Is the fees significantly higher than funding CIMB SG using Wise. Btw, great videos, thanks a lot.

[@ZietInvests]

Hi shamil, their difference is negligible, cimb’s rate has improved recently

[@maydeline2234]

Ziet, can we Malaysian open DBS account?

[@ZietInvests]

Hi Chaai Ying, I believe you can only DBS account if you walk into their physical branch in Singapore.

[@waylevral2096]

Hi I would like to know if I don't have the TIN NUMBER to activate Sg Cimb bank is there any other way to open account?

[@ZietInvests]

I think you can just tick you dont have TIN to activate CIMB SG 😊

[@timothythamboonkeat7291]

Will it work if I use MAYBANK SG + Wise? Thank you.

[@ZietInvests]

Yes! Though nowadays you can Wise IBKR straightly too😁 check out this video kzbin.info/www/bejne/borIdYdopNFkgZIsi=EV8U68UOQDEPvNxS

[@AllanCaeg]

Hi Ziet! What makes CIMB SG unique? I'm based in the Philippines and we have CIMB PH. Not sure if I can apply for a CIMB SG account and if I need to in the first place. Cheers!

[@ZietInvests]

Hi Allan, I'm afraid CIMB SG is only available for Malaysians at this point in time. Having CIMB allows us to fund IBKR in SGD without the need to FTT to USD (IBKR), and also it facilitates withdrawal from IBKR SGD to CIMB SG (SGD), so no conversion losses and FTT fees incurred. Hope this clarifies!

[@AllanCaeg]

@@ZietInvests That clarifies! So, CIMB SG is a nice workaround as it can fund and withdraw from IBKR. However, at the moment, CIMB SG is only available for MY, outside of SG. Hope to find other digital banking solutions or similar, to avoid using traditional PH banks with their hefty fees and slow processes. Cheers!

[@ZietInvests]

@@AllanCaeg Yeap we definitely need an international solution to that! Will stay on the hunt for such update if there's one. Thank you very much and cheers to a great weekend!

[@MalaysiaMarcelino]

@@ZietInvests hi ziet, you mean we don’t need to convert SGD to USD in advance in IBKR before we want to buy US stocks? Thanks

[@ZietInvests]

@@MalaysiaMarcelino If you funded your account with SGD, you still need to convert it to USD manually before you can buy US stocks

[@JoonYeapFLP]

Can u teach how to use hlb tt to transfer money to interactive brokers? Cause hlb saving got foreign currency deposit so i convert myr to usd , when i use usd to tt then it show failed and refund back to me ..

[@ZietInvests]

Hmm i dont have a HLB account, maybe check with your banker because I dont think FCA can transfer to JP Morgan USD account - ask them if your FCA account can perform outbound transfer to US Bank

[@chongthaisun125]

Hi Ziet, may i know now can i still transfer the 1000sgd activation fee through wise from Malaysia account? Because the sg fast saver website stated that remittance houses such as Wise, Western Union, etc. are not accepted

[@ZietInvests]

Hi Thai Sun, still can, as long as you don’t forget the 1 sgd ekyc from cimb clicks my after linking will do ☺️

[@lsbong382]

Hi Ziet when i try to convert SGD to USD. it was rejected. Please help.

[@ZietInvests]

Hi, did you set your base currency to USD?

[@凯凯-j2s]

Hi Ziet, May i know how much i need to pay if i transfer my money from cimb MY to cimy SG ? Thank q

[@ZietInvests]

Hi, from CIMB MY to CIMB SG, you can refer the conversion spread mentioned in this video, CIMB takes a small cut from the conversion rate (MYR to SGD)

[@harkeeratsingh9720]

Hi bro may I know how you activate CIMB Clicks Singapore to allow online transfers. Their website takes me to a PDF form which I need to fil and snail mail it to them from Malaysia. Is there an alternative or easier way to receive their activation code for CIMB clicks? Thanks in advance bro & Happy New Year

[@ZietInvests]

Hi Harkeerat Singh, I highly recommend you to watch this video: kzbin.info/www/bejne/n5bagX2NZ7t5rM0 Summary of steps: > apply for account > casa pdf form (should have SMS password to unlock immediately) > fund 1000 sgd via wise or cimb clicks malaysia (if cimb clicks malaysia, please link first, then use "DuitNow/Transfer" to your FastSavers (SA), not "Foreign Transfer") > apply for linkage from cimb clicks malaysia > linkage done, send 1 sgd from cimb clicks malaysia if you use wise > wait cimb sg call you for verification > wait > receive final activation email, same time you will get sms on the activation code (sometimes 1 or 2 hours later) > use the code to register for cimb clicks singapore (website): www.cimbclicks.com.sg/clicks/ > then download cimb clicks singapore mobile app (setup digital token) >(Optional) after everything is done, you can also link CIMB SG to CIMB MY inside your CIMB Clicks SG > Services > Link my CIMB > Malaysia A/C (for you to be able to transfer SGD to MYR inside CIMB) Let me know if this helps!

[@Umisery]

Fractional shares available at TSG or not if you link your IB account that can trade fractional shares?

[@ZietInvests]

Hi Eric, fractional shares is not available if you are trading under TSG. Your account will be linked with IBKR anyway, you need to delink from TSG to enjoy fractional shares trading (but keep in mind the inactivity fee).

[@desmondchin3345]

@@ZietInvests Hi, I just get updates from IBKR that the inactivity fee not longer applicable effective from Jul 2021. So I will proceed to open IBKR Pro account to trade fractional shares!

[@ZietInvests]

@@desmondchin3345 Hi Desmond, yup that is true, but i am still in the midst of confirming things with relevant parties, once confirmed I will make a quick update video on this!

[@edwardlee2224]

Hi Ziet, is there a way to transfer fund in direct from my CIMB Malaysia Saving Account to a US Interactive Broker Account which I open recently?

[@ZietInvests]

Hi Edward, yes there is, it's called Foreign Telegraphic Transfer, you can refer this video (i did via Maybank Malaysia): kzbin.info/www/bejne/hKK7nWmvhrJpg5o

[@edwardlee2224]

@@ZietInvests Thanks Ziet

[@mohamedmilan1266]

hello, please answer me, does IBKR accept transfer from chinese bank (I am not chinese but I live in china)

[@ZietInvests]

IBKR accepts Chinese Offshore Yuan (CNH), so i suppose that is a yes to your question.

[@mohamedmilan1266]

@@ZietInvests thanks

[@ZietInvests]

@@mohamedmilan1266 you're welcome!

[@sharonhoon5304]

Hi Ziet, is there any interest charges from IBKR if i just maintain cash in the ac without buying any share?

[@ZietInvests]

Hi Sharon, do your mean interest income or interest charge (penalty)? If income, not until you have a huge amount. If penalty, none. Hope this helps

[@sharonhoon5304]

@@ZietInvests Thanks Ziet for your clarification. I just open the new ac with IBKR. But the portal didn't look like the same as per your video. Why?

[@ZietInvests]

@@sharonhoon5304 They update their UI from time to time, but no big issue, should remain largely the same functionally. Can refer my video on 9 Common Issues Facaed by New IBKR Users, should be helpful for you 😊

[@bernicktan7894]

Hi Ziet, can this apply on Public Bank?

[@ZietInvests]

Can!

[@Kho66666]

Hi Ziet, just wanna hear your opinion. If I were to put aside rm250/month for IBKR, is it worth to transfer using wise to CIMB SG,then to IBKR and pay the $2 conversion to USD, or it's better to direct Wise to IBKR in USD?

[@ZietInvests]

Hi Wesley, at RM 250/month, better to keep in CIMB MY until you have RM 2-3k before you send them to IBKR (via Wise or via CIMB SG) since the conversion & transfer fees (inside IBKR or Wise) usually take up RM 20-30 at the very least

[@Kho66666]

@@ZietInvests Thanks, another thing i found out is that amount above S$1k transfer from CIMB SG require 2FA device authentication method. I'm writing an email to CIMB SG to see if they can help me sorted it out since i don't have that 2FA Security devices.

[@ZietInvests]

@@Kho66666 Hi Wesley, any amount would require a security device, for Malaysians, you can register for a digital token by downloading the CIMB Clicks SG mobile app (dont login), then at the bottom setup digital token, that is your security device ;)

[@edwardlee2224]

Is that safe to open an interactive broker account in USA ?

[@ZietInvests]

I don’t see anything wrong with that 😊

[@aljeantio]

Hi ziet, can you do one for TD Ameritrade ?

[@ZietInvests]

Hi Aljean, the only funding for TD Ameritrade is either through Malaysian bank FTT or DBS/POSB bank :x both of which is not a preferred option

[@aljeantio]

@@ZietInvests ok thanks ziet, I thought could use this way for TD Ameritrade as I am using TD Ameritrade. I guess i have no other option than to use bank FTT. Thanks for the advise. cheers

[@ZietInvests]

@@aljeantio Anytime!

[@rhyskj5082]

Hi Ziet, I transferred my money from wise to cimb sg on 2 days ago. But I still haven't got their calls, any mistakes that I have done?

[@ZietInvests]

Have you linked to cimb malaysia? If yes, have you sent 1 sgd via duitnow?

[@rhyskj5082]

@@ZietInvests Hi, thanks Ziet. It is working now. Great video btw, keep it up

[@ZietInvests]

@@rhyskj5082 Great!! Thanks ^^

[@mming_my]

Does this work for webull?

[@ZietInvests]

Unfortunately nope :x webull does not accept SGD

[@mming_my]

@@ZietInvests is the sgd account nessasary? I can use fpx to transfer myr to usd from my local bank acc to wise. Then use wise wire transfer the usd to webull.

[@rithihassini2243]

Can i make fund my account from my maybank/ standard chartered fm Malaysia?

[@ZietInvests]

Can can, try using this method instead (Wise direct funding): kzbin.info/www/bejne/borIdYdopNFkgZIsi=fqzPYyK4V7sHsdNa

[@ivanwong1944]

Hi Ziet, thanks for the informative video. Too bad , when i tried to use Wise with fund from Maybank, not available. Then when I use Maybank Spore TT USD direct to IB, the SGD40 charge n proccessing fee is extremely high on Maybank Spore and when I received in IB, also USD 24 less. Does IB or the receiving bank ie Citibank, charge a fee for deposit into my account?

[@ZietInvests]

Hi Ivan, usually the agent bank in US will charge around 25 USD per transfer, if you FTT from a Malaysian/Singaporean bank into a US bank directly. (nothing to do with IB as IB does not charge any deposit fee) Have you checked out this video of Wise funding tutorial? It will save you significantly more money: kzbin.info/www/bejne/mnu8q3t7o6ebgNU

[@ivanwong1944]

@@ZietInvests once again, thanks for the explanation.

[@magazinemasa4196]

thanks for your useful information. I am a Japanese planning to move to malaysia. Would non-malaysian be able to open account of CIMB Singapore if I get to open CIMB malaysia over there? sorry for asking you this kind of question even though you're malaysian.

[@superiorsoldier8328]

If Im a Singaporean with an existing SG bank account do I still have to use WISE to transfer money to IB or can I just bank transfer directly?

[@ZietInvests]

Hi there, no need Wise at all, just local FAST transfer into IBKR will do 😊 (just skip the Wise step, that is for Malaysians)

[@superiorsoldier8328]

@@ZietInvests thank uu!! 😁

[@ZietInvests]

@@superiorsoldier8328 most welcome 😊

[@saifthegreat9073]

Hi bro, i learned a lot as a beginner! Thanks! And would you mind compare to MIDF conversion rate as well? When I calculate the conversion rate given, it will cost me about 1.58% in total from MYR to USD and to MYR again. Was that amount considerably expensive?

[@ZietInvests]

Hi Saif, 1.58% is still not too bad (better than FTT around 3%, but worse than this Wise + CIMB SG method), can't really complain if you don't want to go through the hassle of setting up CIMB SG account (which is troublesome, but worth it for the long term). That said IBKR being able to trade fractional shares, super low fees (0.35 USD) just screams cost saving and DCA friendly haha!

[@saifthegreat9073]

@@ZietInvests awesome bro. Surely I will find myself using IBKR for the long term. Thank you very much. Hope you find your success!

[@ZietInvests]

@@saifthegreat9073 Thank you and all the best in your investments!!🥰

[@yeohwayhup4250]

Hi , may i know if this is applicable for TD Ameritrade as well ?

[@ZietInvests]

Hi Way Hup, no it doesn't because TD Ameritrade only accepts SGD from DBS/POSB Bank

[@yeohwayhup4250]

@@ZietInvests Thank you so much and appreciate this video :)

[@ZietInvests]

@@yeohwayhup4250 Pleasure is all mine! Have a great day!😊

[@asianbipolar]

You helped me save so much money 🤩 I didn’t know about the lump sum currency exchange on the IB portal itself thanks thanks

[@ZietInvests]

hoho no worries at all! all the best with your investing journey

[@Styleinflux]

Hi Ziet, thanks for the helpful videos & loving that fork idea🤭I just transferred from CIMB Sg to IBKR today, and when i checked my account, it seems that it has automatically been converted to USD when they received the fund. Any idea if that's the case recently for IBKR user that deposit fund. I may be wrong but in case I am, is there any way to know if my deposited fund has been converted? Dont want to end up getting charged everytime it convert per transaction. Thanks in advance!

[@ZietInvests]

Hi Angie! Your cash is actually still in SGD cash inside IBKR - the dashboard just shows you your "USD equivalent" amount of cash, but actually (if you look at your Cash Report in IBKR) - its still in SGD cash! You still need to convert it manually 😊

[@boon5687]

Awesome sharing Ziet. A query: is it equally competitive if I fund from Maybank Msia (RM) via Wise to Maybank Spore (SGD) then to IBKR? Any comparison before? I asked this simply because I do not have local CIMB acc but only local maybank acc.. Also, can I open a Maybank Spore Acc via online ? Tq

[@ZietInvests]

Hi, it's the same, Maybank SG or CIMB SG. Yes you can open Maybank SG online but some part of it requires you to visit a physical branch, can refer my thoughts on that: kzbin.info/www/bejne/nZTTeGWEg5trb6s Hope this clarifies!😊

[@ChyeHeng17]

Hey Ziet, I'm Malaysian. And I have both accounts at Malaysia and New Zealand and currently at NZ. Would like to fund to IBKR from NZ bank account. Is it true we can't fund from Transferwise? Good to know that. In that case, I should first fund the NZD into IBKR, and then convert it to USD or GBP on my IBKR account, right?

[@ZietInvests]

Hi Chye Heng, we can fund them with TransferWise as I’ve checked that with IBKR few months ago - they are cool with that as long as we can provide them the transaction slip, more details here: kzbin.info/www/bejne/mnu8q3t7o6ebgNU That said, your steps are correct, deposit NZD into IBKR directly, then convert to USD or GBP ;)

[@cheekw8158]

Hi, Ziet, thanks for your video, i managed to fund in SGD to IB account after watching, however i noticed that the SGD was converted to USD automatically and without my acknowledgement after few days, i had informed IB but the same happened after 2nd trial, may i know what's going wrong?

[@ZietInvests]

Hi Chee, it did not convert, it just shows your USD equivalent market value at the front page, tap into your portfolio and you should see your cash is still in SGD

[@goonerook]

Hi Ziet, not sure whether it's still the same process currently as I'm doing this almost a year later than when this video was published. I got my CIMB Sg account approved, and I can straight away transfer funds from Msia account to Sg account via FAST. Does that mean Wise is no longer required?

[@ZietInvests]

Hi there, you may want to check out this video: kzbin.info/www/bejne/iKumfKuebtiseac What you are doing is internal transfer from MY -> SG which incurs slightly worse forex rate even though it is "Free". Hope this clarifies!

[@jeslynkhor1369]

Hi Ziet, if I am resided in Spore and have created a Singapore Wise account, will I be able to transfer RM from my Malaysia bank account? Or should I create another Wise account for Malaysia?

[@ZietInvests]

Hi Jeslyn, no need to create another Wise account, I believe you can create a MYR Balance inside your current Wise account. Can refer this video for the Multi-Currency account features: kzbin.info/www/bejne/fmqcoJuNqNOif68 Let me know if this helps!

[@HakimNadir]

Bro, once we've linked CIMB Malaysia and CIMB SG. How to transfer from CIMB clicks Malaysia ?

[@ZietInvests]

Hi Hakim, you can either use Wise or CIMB Clicks Malaysia (login > "Transfer"), refer this video: kzbin.info/www/bejne/n5bagX2NZ7t5rM0

[@horaceqsh]

May i know possible deposit via Malaysian bank - >wise - > interactive broker? Instead send to Singapore local bank (CIMB SG). Thank you.

[@ZietInvests]

Hi Soon Hung, you cannot directly Wise into IBKR due to IBKR's policy of only accepting funding from your personal bank account. If you dont have the CIMB SG account, your only method to fund it is through Maybank FTT

[@Kkwakm]

Ziet - If we are bringing back cash from IBKR to SG or MY CIMB Bank Account.. Will there be a charge and how much would that be? if you know?

[@ZietInvests]

Hi, you can refer to this withdrawal video: kzbin.info/www/bejne/bIWtlH2rq9ODa8U In essence, 1. IBKR SG to CIMB SG - free local transfer 2. CIMB SG to MY bank (MYR) via Wise - should incur some fees which you can calculate on Wise's website Alternative to 2., you can also use CIMB Clicks internal transfer to bring back your SGD though I have not tried it myself, some say the rates are as good as Wise

[@cheahsuangyao1607]

hi I ve been trying to apply for cimb SG for a few hours. But after i fill in the first page of personal details, it always tells me they are having connectivity issue and to try again later. The thing is I ve been trying for few hours and nothing changed. Is there anything wrong here?

[@ZietInvests]

Hi Shuang Yao, that is a first to me, try using Chrome or delete your cookies, or try again later? Feel free to DM me on instagram if you have any issue! (Make sure you turn off your VPN)

[@robertsoncrusoe9995]

Hi Ziet - great video as always. May i ask - if i intend to purchase Ireland domicile ETFs listed in LSE on IBKR - do i need to convert to GBP then? or can i purchase them in USD?

[@ZietInvests]

Hi Robertson, depends on the currency they are trading at, some ireland domiciled ETFs trade with USD, some with GBP. Check their fund fact sheet and corresponding ticker & CUSIP :)

[@koghivk6904]

Hye Ziet, can you make video about MIDF Invest app, which launch recently for foreign tradings...

[@ZietInvests]

Hi Koghi, I will probably consider it, but in the meantime i have something even more interesting than MIDF Invest prepared (hint: a much better broker), hopefully you will stay tuned for it!

[@vincentnggh]

Hi. Thanks for the informative video. Do you have any info/video on transferring (deposit/withdraw) funds in USD between IBKR and a Singapore local bank, without doing SGD-USD conversion pls?

[@ZietInvests]

Hi Vincent, not sure if i understand you correctly, but to withdraw to a SG bank you will need to withdraw in SGD (from IBKR) to avoid the FTT fees. Else, sure, you can withdraw USD to your SG bank but keep in mind the expense FTT fees (forex losses) apply. Unfortunately, I don’t have any video to withdraw USD directly as I don’t think its an economical option.

[@kavanaroy3484]

Hey Ziet, would it be possible to transfer from wise account direct to IBKR bank account?

[@ZietInvests]

Yup! Refer this video: kzbin.info/www/bejne/mnu8q3t7o6ebgNU

[@natlwc]

Just d video I needed, great video 👍

[@ZietInvests]

So glad it helped you, I have been asked about this almost everyday 😂 Finally had the opportunity to do it haha!

[@benjaminliang1320]

from the email I got from CIMB when I open the CIMB SG account it said and I quote: " Note: We do not accept initial deposits from Remittance Agencies such as Wise, Western Union etc." Anyway I had done my transfer via wise. Not sure what will happen. I'll juz wait then. if you have any advice do let me know. cheers!

[@ZietInvests]

Hi Benjamin, should be no problem, dont forget to send 1 sgd via duitnow inside cimb clicks malaysia portal!

[@guitaredenx6528]

I use wise via public bank Malaysia to transfer my initial fund to cimb sg , is it fine?

[@OhCheePeng]

I had been using direct funding to IBKR using Wise for whole year, so far no problem. Is it really illegal?

[@ZietInvests]

Hi Chee Peng, If you are not aware yet, Wise has 2 services on their app: A) Overseas remittance service (sending money overseas) - no issue with this, can proceed to use 😊 B) Balance (Borderless account) - This service has been removed by Wise for Malaysian clients as the Malaysian Government no longer allow this feature to run on their app. I have confirmed this with their customer support, so if you are exploiting this feature for ACH Transfer to brokers, just note that it is unregulated and you have to bear your own consequences. Refer here for the list of country not allowed to open Balance: wise.com/help/articles/2813542/why-cant-i-open-a-balance That said, it is not illegal, B) is just unregulated, so use it at your own risk. Also, Lowyat forumers have ran into situations where IBKR investigate them to check on their funding proof, so I can't guarantee you whether IBKR will knock your door or not.

[@OhCheePeng]

@@ZietInvests yup, I just use the remittance service to fund my account. Is fine?

[@ZietInvests]

@@OhCheePeng If you got it through, then just let it be. Moving forward I wouldn't recommend you to do it, best to fund from a bank of your own name, eliminates the risk of any investigation.

[@huckkiankay19]

Malaysia allow Borderless account in Wise right? May I know how do you do that, is it linkt to ACH account in IBKR? how long would it take? thanks

[@candicebehcandicebeh3210]

@ZietInvests, hi recently maybank change the purpose list, there is no other capital transfer under transfer. Can you advice which to use?

[@JordanAXJ]

How much is the commission for Malaysian to trade US stocks using IBKR?

[@ZietInvests]

For most US stocks and ETFs, its about 0.35USD per trade minimum, can refer this video: kzbin.info/www/bejne/nJDCeZqAh8pmpLc

[@leehuikhoo4830]

Hi Ziet, thanks for sharing such awesome content! It's all clear and concise. I have a question, I just happened to have a fund in USD which I currently deposited in CIMB Sg Foreign Currency Account and I'm planning to use that fund to trade in IBKR for US stocks. I'm hoping to avoid the currency exchange since my fund is already in USD. Do you know if I can transfer my USD fund directly to IBKR from my CIMB Sg Foreign Currency Account, and if there is any fees involved? Thanks

[@ZietInvests]

Hi there, unfortunately i don't have a FCA to give you an accurate answer because I am not sure whether an FCA can deposit into a brokerage account, and how would IBKR deem FCA as - whether its your name or 3rd party name. I guess the first thing you can do is call CIMB to check if you can transfer to another US bank account (i.e. JPMorgan Chase NA) and whether the sender will be your name or CIMB's name. If it's your name and it can be done, then you can proceed to deposit into IBKR.

[@leehuikhoo4830]

@@ZietInvests Thanks for the advice! I'll do that. Take care and all the best!

[@meitheunboxer5588]

Hi i wonder you have gotten your answer on this ?@@leehuikhoo4830

[@leedaneil4997]

Hi Ziet, is there any cheapest way to transfer money from CIMB SG to CIMB MY?

[@ZietInvests]

Hi, you can always compare Wise / InstaReM / CIMB SG internal transfer to CIMB MY! For Wise withdrawal: kzbin.info/www/bejne/bIWtlH2rq9ODa8U

[@shaikmohamedjamil7262]

Hi Ziet, great guide, Tqvm! I was almost there but got stuck at the OTP. There is only one option for OTP - Security Device. It doesn't have sms option. Did I miss a step?

[@ZietInvests]

Hi Shaik, you are referring to CIMB Clicks SG right, you should download the CIMB Clicks SG mobile app and setup the digital token to authorize your transfer

[@shaikmohamedjamil7262]

@@ZietInvests ic.. thanks for the quick reply.

[@shaikmohamedjamil7262]

Awesome .. done. TQVM!! Big fat thumbs up to you, keep up the great work.

[@ZietInvests]

@@shaikmohamedjamil7262 Haha awesome man! Have a great time!

[@wynn91]

@@ZietInvests Hi Ziet, thank you for the helpful tutorial video. I am stuck at this part where I downloaded CIMB Clicks SG mobile app, but I have no idea how to setup the digital token. There is no option available for it, and I don't have a security device. Can you share how I can move forward from here please?

[@Lee-xw5cf]

Can I do step 3 during weekends (non working hours) ? Does it make a difference?

[@ZietInvests]

Hi Lee, yes you are able to do that 24/7, I always transfer SGD from CIMB SG to IBKR SGD account at night around 11pm, no issue for me so far. And, no difference, since its a local transfer, no fee and currency conversion involved.

[@MinhVu17]

Hi Ziet, just want to ask the account that funds IBKR must be under the same name?

[@ZietInvests]

Hi Minh Vu, that is correct

[@shengyong0908]

Hi Ziet, thanks for this video, may I know normally how long it takes for my money from Malaysia bank to IBKR. Because sometimes I saw US stock very cheap and plan to top up my acc and buy it ... Option 1 Direct deposit to IBKR through wise Option 2 deposit through Cimb Sg Which one do you recommend?

[@ZietInvests]

Hi Sheng Yong, Option 1 usually take 1 day to see it reflected, and about 1-2 days for settlement. Option 2 usually within 6-8 hours to see it reflected, then another trading day for settlement upon conversion. For speed and reliability, I would strongly suggest you go for Option 2 - CIMB SG + Wise > SGD > USD

[@shengyong0908]

@@ZietInveststhanks

[@goonerook]

Step no 3. Cimb only gave option of security device authentication to confirm transfer, but I do not have as it's applied online. How shall I proceed?

[@ZietInvests]

Can call up CIMB SG to check for this

[@dhinneshjeevan8506]

Hi Ziet, I would like to clarify funding IBKR using Wise. So, in this video, you mentioned that IBKR does not accept direct funding from Wise and it is risky, but you have another tutorial on funding IBKR using Wise ACH Transfer. So, it is OK to use Wise? Please clarify, thanks!

[@ZietInvests]

Hi Dhinnesh, that's a good question! The reason why I did not endorse the Wise ACH Transfer in this video was because at the point of making this video, Wise multi-currency account was still not legally allowed to operate here in Malaysia. Now that it is licensed to operate for their multi-currency account, I have went and ask IBKR if they are ok with accepting that, and apparently they are ok with it but have cautioned that sometimes the fund may be delayed, but all ok as long as got funding slip! So since Malaysia side is clear, and IBKR side is clear - its only right that I introduce the Wise ACH transfer method to everyone! But personally, I still prefer this CIMB SG + Wise method, instead of using Wise ACH transfer method, hope this helps!

[@mandybandy5423]

@@ZietInvests Hi Zied, may I know why its preferable for you to use this CIMB SG + Wise method compared to the Wise ACH transfer method for now?

[@leonardchong1824]

Ziet, really like your no nonsense video...straight to the point. I m planning to DCA-ing on CSPX (1-2units monthly). Hence does it mean i need to repeat all these steps to fund my IBKR monthly ? Do u have any suggestion on advice for simplification or I have no choice but to do it monthly as per your step-by-step? Thanks

[@ZietInvests]

Hi Leonard, thank you very much for your nice words! Re your question, if your plan is to fund it monthly, then yes you have to repeat the steps but once you do it once or twice, you will be able to do it even without this video (its actually pretty simple and can be done in under 10 minutes hehe) There are no other simplified method (except for the other funding option like Wise-ACH transfer which I've also covered before) - but I would strongly recommend this method as the best for Malaysians/Singaporeans. Let me know if you have anymore questions!

[@leonardchong1824]

@@ZietInvests Correct me if I am wrong, but you are saying CIMB SG + Wise is being recommended compared to WISE-ACH ? I thought its easier using WISE-ACH and cheaper too ?..

[@kwbeak6903]

Thanks for your video sharing but when I use CIMB Sg to local transfer via FAST, it required security code instead of ask confirm from mobile phone, is this due to setting? how to to change it? tqvm

[@ZietInvests]

Hi Kw, if i understand correctly, you need to setup a digital token if you haven't done so (can download CIMB SG mobile apps and see below, Digital Token (dont login first)). Hope this helps!

[@kwbeak6903]

@@ZietInvests thanks, it work

[@drbenirusani]

HI Ziet! But recently you confirmed another viewer that using direct conversion from CIMB Malaysia to CIMB Singapore (and vice versa) during working hours 8am to 5pm workdays beat WISE rate, do you still agree?

[@xuinnielee1885]

can deposit to SG UOB bank account ?? instead of CIMB

[@ZietInvests]

Can! Any SG bank account will work 😊

[@yongkarjun4678]

Can I set the wire bank account details as favourite in my cimb bank, so I do not have to key in the details every time I deposit my fund?

[@ZietInvests]

Yes you can!

[@ZKTay-k6n]

Isit still the cheapest way? Considering the exchange rate between sg to myr?

[@ZietInvests]

Hi, yes it is technically still very cheap, almost on par with the Wise ACH transfer Exchange rate doesn't matter ya, it is the same for all platform

[@layimmlim2351]

Ziet. can i transfer to TD with the same method??,TQ

[@ZietInvests]

Hi Layimm, cannot, because TD Ameritrade SG only accepts SGD from DBS/POSB Bank

[@shantivenugopal3108]

Hi Ziet! I always look forward to your videos and I'm an early investor. I know you have shared quit a few videos already about funding an IBKR account. But can I still ask what will be the cheapest method? I have both a Singapore DBS account and a Wise multi currency account (I am Malaysian btw). Should I directly transfer money from my DBS account to IBKR or should I transfer from DBS to Wise to IBKR? Just wanted to get your thoughts. Thank you so much!!!

[@ront3761]

Thanks Ziet! Very informative. On the WISE transfer, is it ok to put the purpose as Saving since this is for investment? Also the limit in WISE is RM30K per transaction. If want to transfer RM50K, so we need to split into 2 (RM30K + RM20K) and in 2 different days? Any limit to do so on the same day? By the way, I heard from a friend that sometime he will get a call from bnm or other authority to check on the transfer. Do you face it before? Not sure whether it is a scam :P

[@ZietInvests]

Hi Ron, "Savings" should be fine since you are transferring to another savings account in singapore. And yes, the limit for WISE is RM 30k/day, i believe you need to do it another day for additional transaction, else you can also use other services like BigPay (RM 10k), InstaReM, Sunway Money etc. So far I have not been investigated by any authority, just make sure to keep your transaction slip and if you have nothing to hide, there shouldn't be anything to worry about (its a legit transfer to my own CIMB SG account which is also tracked by the malaysian government what)

[@tzongyew]

Thank you for this video. May i know how to increase limit transfer on cimb sg. As they say need security device? Stay safe ziet

[@ZietInvests]

Hi tzongyew, you can download CIMB Clicks SG mobile app to setup digital token (that is your security device): apps.apple.com/my/app/cimb-clicks-singapore/id383326796

[@guitaredenx6528]

@@ZietInvests in mobile app there are three options to setup the digital token. So we should opt for the first one which is using sms otp right?

[@hectorleong4305]

Hello there! If I am from Singapore, I don’t need to have a Malaysian bank account and a wise account is that right? What is the best way to to fund IBKR if I’m a Singaporean?

[@ZietInvests]

Hi Hector, that is correct! If you are from Singapore, just FAST transfer into IBKR's SG account (Hongkong and Shanghai Banking Corp) from any of your SG bank account such as DBS / POSB😊

[@hectorleong4305]

@@ZietInvests thanks for the advice again!

[@ZietInvests]

@@hectorleong4305 You're welcome!😊

[@jqqq58]

What about using wise directly from myr to usd?

[@ZietInvests]

Can! Check out here: kzbin.info/www/bejne/borIdYdopNFkgZIsi=gjYE3kK1J0aO9dOS

[@florencengxiangtheng7771]

Hi ziet. Is this still applicable with today’s stronger Singapore currency which is 1 equals rm3.56

[@emyt4461]

Great improved video , I have been following your youtube

[@ZietInvests]

Thank you so much for the support Emy, it makes all of these worth it! Have a great weekend!

[@siewmin-n5l]

Do we have to inform ibkr after deposited fund ?

[@ZietInvests]

Hi, no need ya, as long as you initiated transfer instruction properly similar to what's shown in this video then they will clear and receive your money within 1-2 business days