Frankly I think the added 'difficulty' when compared to other brokers in the sign up procedure gives me extra serenity for me as a user. This means I'm putting my money into a safe platform with loads of scrutiny. Obviously once again good job on the video Kai!
Horrendous customer service. And they for you to wait and there's little or no way to get a fast response. imagine not being able to trade on their app but you can't reach then either. Horrible.
Hi, given Interactive Brokers' tiered pricing, here’s the breakdown for buying and selling 1,000 shares at $0.50 each: Trade Value: 1,000 shares x $0.50 = $500. Per-Share Fee: $0.0035 x 1,000 shares = $3.50 per order (assuming volume under 300,000 shares/month). Minimum Fee: $0.35 per order, but since $3.50 exceeds this, that’s the fee applied. Total cost for both buy and sell orders would be $3.50 x 2 = $7 in brokerage fees. Cheers
Thanks for the vid. But some feedback; all the cuts in the editing makes you feel quite unsettled, especially when your talking and you sound like your glitching. Maybe you can have a pre written script of what youll say and you can try saying it in only a few takes eg 3-4 cuts.
Hi and thanks a lot. Sure, scripting would reduce that, though I don't like it as it feels quite unnatural as well at least in my case. I think over the years I have made less cuts than before, but I guess no way to avoid it completely. Hope the content conveyed in the video was still worth your time. Cheers
I’m being forced out of my Webull account and in search of new one with full trading hours. This might be the one but still trying to take in all data. 🤔
When I go online I see all these negative reviews stating issues and poor customer service…the Google rating is down to only 2 out of 5. In view of this how can they be recommended ? Is there something you can say about that? Thanks.
Hi there, while it may not be the smoothest experience at first, once you go the hang of it, it's just one of the most powerful and most used broker in the world, that says it all. It's just solid and you know your money is in safe hands with them. Would I wish their interface was better? Yes. Would I wish they charge zero commission? Yes. Would I move my money away from them? No. For me the safety aspect is the biggest benefit of using them 👌 Cheers
@@SmartMoneywithKai Thanks for the video Kai. Would you happen to know how to show Cancelled Orders on the TraderWorkstation? For example yesterday I placed a trade but it did not fill. Today, the history of that trade is completely gone, it doesnt show me what trade was cancelled. I place many trades at a time so I want to see what was Cancelled. Any idea please?
You're right about aweful customer service. Trying calling them... they put you on hold forever... and it's terrible. I just opened an account but now I'm looking for something better
All online Brokers and online Banks have a horrible Customer support… it does not matter where You Go, all are horrible. Important is they do not block your account for stupid reasons which is what happen by most neo-brokers and new online banks, horrible user stories are all over the internet.
is this a good place to put in a lump sum and leave for the long term? as a complete novice, i want a place for an expat to invest a bulk of my earnings for the future, would this be a good platform? i am looking to just invest and leave it to mature
@@SmartMoneywithKai Thanks for the message. Which ETF would be the best to leave my fund in to mature, i don't want to do quick trades, want long term gains. How does it work if i dont do any trading, just leave to mature? last quesiotn :) will i get taxed, perhaps when i withdraw?
For long-term gains, broad-market ETFs are ideal options. Consider ETFs like the S&P 500 (VUSA), FTSE All-World (VWRL), or a Total Stock Market ETF (VTI). These ETFs offer broad diversification, low fees, and solid historical performance. You can simply buy and hold, allowing your investment to grow over time without the need for frequent trading. How it works: Buy and Hold: Once you invest, you don’t need to actively trade. The ETF manages its own rebalancing by automatically adjusting its holdings, keeping you diversified over time. Dividends: Some ETFs may distribute dividends, which can be reinvested to increase your holdings (if the ETF is an accumulation fund) or paid out regularly (if it’s a distribution fund). Growth: You benefit from the overall market performance, which compounds over the years as the companies in the index grow. Tax Considerations: Capital Gains Tax: In most countries, you'll be taxed on capital gains when you sell the ETF at a profit. The rate and timing depend on your local tax laws. Dividend Tax: If the ETF pays dividends, those may be subject to tax as well, either when they're paid or reinvested. It’s a good idea to check the tax rules in your country of residence to know exactly how capital gains and dividends are taxed. You could also consult a tax advisor to be fully informed. Cheers
Hi and thanks a lot. I use TR to store my cash and collect the nice interest, but not to buy my shares as the ETF I wish to buy in USD is not listed with them. Otherwise a very solid broker too 👌
Hey Kai, thanks for the video, so for >$10000 we get 4.83% yearly rate? Is this paid daily/montly/yearly? I have Revolut Premium only for the ~4.75% with ~$18200 in a savings account. Would it be worth to move these savings to IBKR and leave leave Revolut premium provided its 100 euros per year? Cheers!
Hi mate and my pleasure. You can calculate it here www.interactivebrokers.com/en/accounts/fees/pricing-interest-rates.php but honestly, I would probably leave it at Revolut, much easier to use if you need the money and overall interest still seems higher. Cheers
Hi Olafur, thanks for sharing and makes sense, that is a plus of using a local bank of course. Funnily enough most banks here in Lithuania are also Swedish like Swedbank & SEB 😉
@@SmartMoneywithKai That’s funny, I had no idea! Most of them offer ISK (Investment Savings Accounts) in Sweden where you can buy stocks, funds and sometimes also ETFs, but I guess a big con is that the interface and ability to analyse your investments and study the companies is quite lacking. The platforms that most Swedes use are Avanza and Nordnet. They function sort of like banks specializing on investments and savings and they’re definitely the go to place for Swedes looking to invest.
Oh I see, never heard of those. Yes those Swedish banks were super clunky and expensive. I bought some stocks in the beginning, but wow, this was not a pleasant experience so I would personally not be using them for that. And even not to keep my money there, they pay me 0% on my flexible cash, but charge me a monthly fee 🙈
Thanks a lot, sure, here it is smartmoneywithkai.com/ibkr there won't be any special deal for you I'm afraid, but you would support the channel 🙌 Cheers
Hi there, I don't own or plan to own gold so I would not be an expert in that. I saw you can buy IGLN on IBKR which is listed in London. But again, really not an expert in this. If I was to buy Gold I would probably also buy it physical to be honest. Cheers
Kai about the dividends you can see that on IBKR but you have to run statements. that works for me. just run a monthly quarterly or yearly statement. you can also run a statement since inception. so it's all there!
Hi, thanks and yes, I did find that and shown in another video, but it's just not user-friendly and even there, the way it's shown not exactly the best way for any serious dividend investor 😉
@@SmartMoneywithKai Do you know if IBKR has any plans to redesign? I'm in Canada and its the only broker with good FX conversion fees to USD, so I really would prefer to use IBKR. Though the menu seems very convoluted, even viewing something as simple as "simple rate of return" which is justaccount value over net deposits as a percentage seems quite difficult. Along with the main chart on the home page including deposits to be shown as gains, really annoying.
🔵 Try Interactive Brokers
My personal broker of choice where I hold the majority of my investments
smartmoneywithkai.com/ibkr
Frankly I think the added 'difficulty' when compared to other brokers in the sign up procedure gives me extra serenity for me as a user. This means I'm putting my money into a safe platform with loads of scrutiny.
Obviously once again good job on the video Kai!
Hi mate, great way of thinking about it, good point and thanks a lot 🙌 Cheers
Horrendous customer service. And they for you to wait and there's little or no way to get a fast response. imagine not being able to trade on their app but you can't reach then either. Horrible.
Yeah customer service could be faster, though, I must say it has improved over the years 👌
35c per share? is that both sides? buying and selling? so 1000 x 50c shares = $500 + $350 brokerage
Hi, given Interactive Brokers' tiered pricing, here’s the breakdown for buying and selling 1,000 shares at $0.50 each:
Trade Value: 1,000 shares x $0.50 = $500.
Per-Share Fee: $0.0035 x 1,000 shares = $3.50 per order (assuming volume under 300,000 shares/month).
Minimum Fee: $0.35 per order, but since $3.50 exceeds this, that’s the fee applied.
Total cost for both buy and sell orders would be $3.50 x 2 = $7 in brokerage fees.
Cheers
Thanks for the vid.
But some feedback; all the cuts in the editing makes you feel quite unsettled, especially when your talking and you sound like your glitching.
Maybe you can have a pre written script of what youll say and you can try saying it in only a few takes eg 3-4 cuts.
Hi and thanks a lot. Sure, scripting would reduce that, though I don't like it as it feels quite unnatural as well at least in my case. I think over the years I have made less cuts than before, but I guess no way to avoid it completely. Hope the content conveyed in the video was still worth your time. Cheers
I’m being forced out of my Webull account and in search of new one with full trading hours. This might be the one but still trying to take in all data. 🤔
Hi Jeff, sorry to hear that and absolutely, I think Interactive Brokers would be a great alternative for you in this case 👌
When I go online I see all these negative reviews stating issues and poor customer service…the Google rating is down to only 2 out of 5. In view of this how can they be recommended ? Is there something you can say about that? Thanks.
Hi there, while it may not be the smoothest experience at first, once you go the hang of it, it's just one of the most powerful and most used broker in the world, that says it all. It's just solid and you know your money is in safe hands with them. Would I wish their interface was better? Yes. Would I wish they charge zero commission? Yes. Would I move my money away from them? No. For me the safety aspect is the biggest benefit of using them 👌 Cheers
@@SmartMoneywithKai Thanks for the video Kai. Would you happen to know how to show Cancelled Orders on the TraderWorkstation? For example yesterday I placed a trade but it did not fill. Today, the history of that trade is completely gone, it doesnt show me what trade was cancelled.
I place many trades at a time so I want to see what was Cancelled. Any idea please?
You're right about aweful customer service. Trying calling them... they put you on hold forever... and it's terrible. I just opened an account but now I'm looking for something better
All online Brokers and online Banks have a horrible Customer support… it does not matter where You Go, all are horrible. Important is they do not block your account for stupid reasons which is what happen by most neo-brokers and new online banks, horrible user stories are all over the internet.
is this a good place to put in a lump sum and leave for the long term? as a complete novice, i want a place for an expat to invest a bulk of my earnings for the future, would this be a good platform? i am looking to just invest and leave it to mature
Absolutely, one of the largest and most trusted brokers in the world. I also keep my biggest holding with them 👌
@@SmartMoneywithKai Thanks for the message. Which ETF would be the best to leave my fund in to mature, i don't want to do quick trades, want long term gains. How does it work if i dont do any trading, just leave to mature? last quesiotn :) will i get taxed, perhaps when i withdraw?
For long-term gains, broad-market ETFs are ideal options. Consider ETFs like the S&P 500 (VUSA), FTSE All-World (VWRL), or a Total Stock Market ETF (VTI). These ETFs offer broad diversification, low fees, and solid historical performance. You can simply buy and hold, allowing your investment to grow over time without the need for frequent trading.
How it works:
Buy and Hold: Once you invest, you don’t need to actively trade. The ETF manages its own rebalancing by automatically adjusting its holdings, keeping you diversified over time.
Dividends: Some ETFs may distribute dividends, which can be reinvested to increase your holdings (if the ETF is an accumulation fund) or paid out regularly (if it’s a distribution fund).
Growth: You benefit from the overall market performance, which compounds over the years as the companies in the index grow.
Tax Considerations:
Capital Gains Tax: In most countries, you'll be taxed on capital gains when you sell the ETF at a profit. The rate and timing depend on your local tax laws.
Dividend Tax: If the ETF pays dividends, those may be subject to tax as well, either when they're paid or reinvested.
It’s a good idea to check the tax rules in your country of residence to know exactly how capital gains and dividends are taxed. You could also consult a tax advisor to be fully informed. Cheers
Does the applicant need to be an US citizen? I am located in Dubai. What good choices of brokers do we have in the UAE?
Hi and no, absolutely not, anyone can use it, well pretty much anyone 😉
In the UAE you can use Interactive Brokers, Trading 212 or eToro 👌
I was a hotel manager for 8 years, now on my journey to become financial independent.
Hi Edwin, that's amazing, very similar like my story having been a GM for a number of years but glad I left eventually 😉
Hi Kai, thanks for the nice review video. Are you also using Trade Republic?
Hi and thanks a lot. I use TR to store my cash and collect the nice interest, but not to buy my shares as the ETF I wish to buy in USD is not listed with them. Otherwise a very solid broker too 👌
@@SmartMoneywithKaiI do the same as you. For interest rate, there are no others like them
Hey Kai, thanks for the video, so for >$10000 we get 4.83% yearly rate? Is this paid daily/montly/yearly? I have Revolut Premium only for the ~4.75% with ~$18200 in a savings account. Would it be worth to move these savings to IBKR and leave leave Revolut premium provided its 100 euros per year? Cheers!
Hi mate and my pleasure. You can calculate it here www.interactivebrokers.com/en/accounts/fees/pricing-interest-rates.php but honestly, I would probably leave it at Revolut, much easier to use if you need the money and overall interest still seems higher. Cheers
@@SmartMoneywithKai Thank you for the answer Kai, I really appreciate it!🙂
So I want to open a account in uk but I plan on moving in 2/3 years is there a way to switch my country ?
Hi and absolutely, I did the same via IBKR, very easy. Will soon make a video on this topic but rest assured you can 👌
I’d probably use it if it wasn’t for the tax benefits of the Swedish Isk accounts, no manual tax declaration which makes it so much more convenient.
Hi Olafur, thanks for sharing and makes sense, that is a plus of using a local bank of course. Funnily enough most banks here in Lithuania are also Swedish like Swedbank & SEB 😉
@@SmartMoneywithKai That’s funny, I had no idea! Most of them offer ISK (Investment Savings Accounts) in Sweden where you can buy stocks, funds and sometimes also ETFs, but I guess a big con is that the interface and ability to analyse your investments and study the companies is quite lacking. The platforms that most Swedes use are Avanza and Nordnet. They function sort of like banks specializing on investments and savings and they’re definitely the go to place for Swedes looking to invest.
Oh I see, never heard of those. Yes those Swedish banks were super clunky and expensive. I bought some stocks in the beginning, but wow, this was not a pleasant experience so I would personally not be using them for that. And even not to keep my money there, they pay me 0% on my flexible cash, but charge me a monthly fee 🙈
@@SmartMoneywithKaioh wow that sounds like an awful deal😝
@@olafur2109 😂💯
Great video! Can we get a referral link?
Thanks a lot, sure, here it is smartmoneywithkai.com/ibkr there won't be any special deal for you I'm afraid, but you would support the channel 🙌 Cheers
Hi Kai,
Can you please give me advise on buying gold in interactive brokers?
I'm in the EU, is it possibly better to use a different broker?
Hi there, I don't own or plan to own gold so I would not be an expert in that. I saw you can buy IGLN on IBKR which is listed in London. But again, really not an expert in this. If I was to buy Gold I would probably also buy it physical to be honest. Cheers
IBKR or Scalable ?
I can't use Scalable in my country so for me definitely IBKR 👌
Kai about the dividends you can see that on IBKR but you have to run statements. that works for me. just run a monthly quarterly or yearly statement. you can also run a statement since inception. so it's all there!
Hi, thanks and yes, I did find that and shown in another video, but it's just not user-friendly and even there, the way it's shown not exactly the best way for any serious dividend investor 😉
@@SmartMoneywithKai Do you know if IBKR has any plans to redesign? I'm in Canada and its the only broker with good FX conversion fees to USD, so I really would prefer to use IBKR. Though the menu seems very convoluted, even viewing something as simple as "simple rate of return" which is justaccount value over net deposits as a percentage seems quite difficult. Along with the main chart on the home page including deposits to be shown as gains, really annoying.
+10:30 for the cons side
Video on this: flexible cash funds revolut
Hi, I did it sometime ago, you can check it out here ua-cam.com/video/q3WmvPUgZH4/v-deo.html Cheers