11 Common Problems Faced by Interactive Brokers Users (Must Watch!)
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- Опубліковано 31 лип 2024
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⬇️ Timestamps:
0:00 → Introduction
0:22 → Are you owner of your stocks
2:29 → If IBKR goes bankrupt
4:10 → IBKR commission fees
5:10 → Trading permission
6:46 → Fixed or tiered pricing?
8:12 → Cheapest funding method
9:31 → Accumulating dividends
11:33 → Index/ mutual funds
12:15 → IBKR app
13:28 → Funds withdrawal
14:42 → IBKR US/ UK/ Australia/ SG
15:48 → Conclusion
Stock Ownership with IBKR:
Stocks bought through IBKR are held in "street name," meaning the broker holds the shares on behalf of the client, who is the beneficial owner.
Broker Bankruptcy:
If IBKR or any broker goes bankrupt, client assets are protected and can be transferred to another broker. This process is overseen by regulatory bodies like the SIPC, FCA, or MAS, depending on the client's location.
IBKR Commission Fees:
Commission fees may vary based on trading volume and the region from which stocks are bought. The tiered pricing plan's fees can differ for U.S. domiciled stocks and ETFs versus those from other regions.
Trading Permissions:
Request trading permissions on IBKR!
Pricing Plans: Tiered pricing is generally better for retail investors buying a lower number of shares.
Funding Methods:
Funding IBKR accounts via Wise directly is convenient for Malaysians, though using CIMB SG can be slightly cheaper. The choice depends on individual preferences and the availability of a CIMB SG account.
Dividend Accumulation:
Accumulating ETFs like VUAA reinvest dividends directly into the fund, increasing its Net Asset Value and, consequently, the share price.
Mutual Funds:
Non-US residents cannot buy mutual funds through IBKR and are advised to consider ETFs as a close alternative.
IBKR Apps:
IBKR Mobile app is still the best for its comprehensive features.
Withdrawal Audit Checks: Large withdrawals to Malaysian bank accounts may trigger audit checks under anti-money laundering laws. It's suggested to spread out withdrawals in smaller amounts over time.
Differences Between IBKR Entities:
The regulatory environment varies by location (e.g., Europe, Singapore, Australia), but these differences are not significant enough to impact the trading and investing process substantially.
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Disclaimer: 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. - Навчання та стиль
Nice one Ziet!! And happy Chinese new year, hopefully ur channel grow bigger and stay humble and honest, ur channel really brings a lot of good content compared with the rest.
Hey, Ziet, thanks for the explanation. It clears all my doubts!
Thanks for this. Really helpful questions and answered alot of my doubts. Keep it coming and good job!🎉
So happy to know that!! Can't wait to see you on our future videos!
Good day, Ziets. Happy Lunar New Year. Thanks for your info.
Happy Chinese New Year to you and your family❤
Happy to have you around. You're awesome!!!
Likewise!! Thank you Nick!🥰
Bro thank you so much for this. It’s frustrating I cannot buy options or complex etf. It’s always good to have options open.
Dude! New to your channel. Watched a few of your videos and you are pretty awesome!
Thank you so much for the kind words!! Can’t wait to show you more of what we’ve got😍😍
Love your videos. Ziet, what do you think about IBKR Stock Yield Enhancement Program (SYEP)?
Do you have any other questions on IBKR? Share with us down below and maybe someone knows the solution to it!⬇️
Hey Ziet, I have a question about the fund's withdrawal part. I thought that Malaysia doesn't currently charge for capital gains tax? Why should I worry when a large sum of money is withdraw back to my bank account?
Malaysia stamp duty charged extra?
@@TomTom-sq1jv Hi, technically you are right, Malaysia doesn't charge for capital gains tax, but that does not stop the tax department from knocking your door and auditing your income source - no one can guarantee the outcome. Hence why it is always best to be aware and educated on this, plus, have "alternative" route to avoid being in a position where the huge some of money is remitted + you're sitting in the same room as the authority :x (Please double check this with an accountant/financial advisor and they will have the best advice for managing your wealth transfers!)
@@vsuren i dont think so!
Thanks for your comment!@@ZietInvests
What about the dividen from stock where it will go and how to trigger reinvest option ? Thanks
Thanks bro.
Great sharing ! Can you comment on investors of foreign nationality residing in Malaysia - can they maintain IB account to trade US stocks from Malaysia, and if yes, which IB to register (SG or US), are there's restrictions to these class of investors in this case?
great video, thank you Ziet
Glad you liked it jefff! Have a great one🥰
Thanks for making wonderful content as always....Recently i am not able to get authentication code to log in into IBKR account using laptop. Pls advice on this .....thanks
superb tips!
😁glad you liked it!
Brilliant video, would be great if you can start doing it on a regular basis (once a month or so...) thanks Ziet.
I'm so glad you liked it!! Keep the questions coming if you have any so that I can feature more varieties of problems to help more people😊 Thank you!!
for the accumulating etf VUAA, is there any withholding tax?
thanks man
Thank you for this video!
You're most welcome buddy!! Hope to see you more around!
How do you see the margin that is being used and being charged margin interest by ibkr ?
Following Brexit my IBKR account was moved from the UK to Ireland. This has the disadvantage that now the limit for protection for cash in case of IBKR'S bankruptcy is only €20000, not €100000 as before.
Great video mate
Thank you mate!!
Is there way in ibkr mobile app where I can see top "strong buy" stocks rated by analyst(can see in fundamentals tab) and sort them in ascending order based on market cap?
Is it adviceable to open separate ibkr acct if you are investing both us and sg, foe monitoring purposes? Or just one ibkr account will do?
Can I check, which broker will u recommended for malaysian who wish to trade U.S and HK?
Kindly if you can shed some light on good faith violation and it’s application through IBKR.
For instance if I open a position on Monday and close it on the same day that is Monday, when can I open my next position while trading through IBKR.
Does US Stock DRIP got any charges in IBKR? Thanks
Is it true that ibkr pays 5% interest on un invested funds in our account?
I cannot find CNDX in London Stock Exchange when I use the search function. Pls help.
Hey Ziet! Can you make a video explaining how the Stock Yield Enhancement Program on IBKR works?
Hi, IBKR can assign nominee? Just as EPF. Or Will can cover this? Thanks
Can I add another user like my wife/son to my account ? in case anything happen to me, he can inherit it ?
Hi Ziet. Does IBKR allow trading BTC ETFs for Malaysians?
why is minimum order size 100 for SG individual stocks?
Bro I created a account in IBKR. Yesterday I done my first purchase. I was not allowed to buy pink stock. It says I need to get trading permission by selecting “US”penny stock” option but that option was not appeared in my trading permission in stock colum. What am I supposed to do. Kindly help me….
Hi Ziet!! Awesome video. But need to ask question. Let say you remit $$ from IBKR to Msia account and got triggered by BNM. What type of proof do we need to provide to justify?
Can withdraw to other person's WISE? Im asking just because as far i know IBKR dont have beneficiary/inheritance
Wanna ask ur opinion, if invest via malaysia broker like rakuten, when we withdraw large amount of money, will it be less likely to trigger the LHDN?
And if i die, family member will easier gt the inheritence?
Should this be consider point when choosing to use local broker or international broker?
I already invest via IBKR for 2 years
Great sharing, thanks Ziet!
Wanted to ask since Malaysia don't have capital gain tax. Do we still require to declare foreign stock investment during tax submission?
Hi Wei Keong, very good question. My friend have asked LHDN this via call, and the officer said yes need to declare under "Dan lain-lain" section below your income. But frankly if you ask me, that's capital gains tax right? Doesn't really make sense to me - so best if you can get an accountant to confirm this!
Got it, thanks Ziet!
Opinion abour adr china etf ?
Excellent vid. But that zit, Ziet, is struggle to not pop on screen haha
I knowwwwwwww omgggg T_T I'm soooo sorry about that, it pops out every Thursday when I film my videos 🥲 (happy to report it's gone now!)
Can I trade my own company stock when I'm director of that company without informing Bursa/the public when using Interactive Brokers??
Hi Ziet,
can I ask you a question. If I open IBKR account with my passport number. After 10 years my passport expire, do I need to re-open new account or still keep this account and update new passport number ?? Can you help me...
great video
Glad you enjoyed it😄
Heirs may have to pay American estate taxes if their US‐domiciled holdings exceed $60,000.
It doesn't matter whether or not such products are purchased from a non‐US brokerage.
How to overcome this?
Oops ,Happy Chinese New Year to you🎉
Happy Chinese New Year to you too 🧧
Awesome stuff Ziet! I currently started my investing journey with 50% in VUAA and another 50% spread across Microsoft, alphabet and Apple. I’m not sure if I should diversify out of this to stock pick outside S&P 500 such as even other countries and non tech sectors, swap to VWRA or just stick to VUAA and chill all the way. I want to have 50% of my savings in ASB and 50% in the USD stock market as I believe I have a low to medium risk appetite. Any advice on this?
For VUAA, check out SPXS.L or SPYL, cheaper
Very difficult to transfer funds
Man I hate IBKR so much. It's pain in the ass when registering a single account. First register failed and they won't give any reason, second attempt need some trading certificate or something and I can't proceed with that because I don't have it
I would like to know about account inheritance. If anything happens to me (pass away), what will happen to my stock?
For Malaysians - IBKR advice to hire a lawyer and approach their customer support to setup a will for inheritance transfer. This is because their platform don't natively support inheritance transfer for non-US clients. (Correct me if im wrong!)
Good day, Zeits. What if I let my close relative have AC password access and he transfer through WISE all my $ to his WISE AC after I died. Can it work that way or should I have a joint AC in IBKR.
Hi Ziet. Thanks for all your videos.
I have a question but not really about IB. Why Alibaba US (BABA) is less performing than Alibaba China/HK (9988)?
It's a matter of perception. Investors in China knows the truth of Alibaba's performance, those gweilos in the US of A only know propaganda fed to their brain dead heads.
Can you provide a step by step guide on opening ibkr and buying please?
he did already, check older videos
Muito complicada de negociar !
Hey Ziet, Great video there. BTW, let's say somehow I managed to made from 10k to 1m MYR in the broker. Since this money is clean, is it possible I can withdraw one lump sum? Will I still get taxed even i can show evidence of my money where it came from ?
Hi, as mentioned in the video, i can’t guarantee how the malaysian authority will react when you bring in that huge sum of money into the country, cross corder.
Technically capital gains are not taxable, but as part of anti money laundering exercise they’re gonna have to audit and investigate the source of your income - i.e going through your statement etc.
Do check with a financial advisor for the most accurate advice ya😄
Hi Ziet, what market data do I need to trade North American Futures?
Hey there! To trade North American futures effectively, you'll want to get your hands on live futures data for the contracts you're interested in, like the E-mini S&P 500 or NASDAQ futures.
Can try checking with IBKR customer support ya, hope this helps!
@ZietInvests Can we invest ( commodities , index ) cfd through ibkr , as Malaysian?
I believe you can - but need to have certain trading permissions in order to do it yea
@@ZietInvestscan you tell me whats that procedure ?
2 questions here..1. Being a malaysian, despite changing the trading permissions and what not, we cant seems to buy bitcoin. any way to maneuver around this? 2. knowingly that anything above 60k usd in IB, we will be slapped 40% inheritance tax (or tiered), besides giving it annually it as gift, what can we do in case we suddenly gone and can official will writing mitigate this? thanks
Hi Leonard, thank you for the great questions!
1. I feel you, and yeah, at the moment IBKR (and many other brokers) does not allow Malaysian clients to buy BTC, probably due to the stringent financial regulations. Will keep you all updated as soon as it's available!
2. Yes there will be inheritance tax, but its up to 40%, not 40% flat ya. Unfortunately there's not way to avoid it if you invest in the US market, but it can be mitigated partially through investments via Ireland domiciled ETFs - as there are no inheritance tax on irish-domiciled assets for us!
Can check out this video to learn more: ua-cam.com/video/VIM1fczQdAE/v-deo.htmlsi=TYBgpnynbd6ygCOB
As IBKR is the ONLY US broker providing Ireland-domiciled ETFs to non-US residents/citizens what could it do if IB went bust or insolvent and consequently would have NO another broker to transfer the assets to?
Unfortunately that also means if you need to transfer to another broker, if they dont accept these stocks, you would have to liquidate those positions and transfer in cash terms instead
Thanks for reply
How to sell ETF in IBKR? All my order submissions failed
Did you submit during off market hours (weekends)? Try submit on weekdays yea
How long does it take to withdraw your fund to your Wise account?
😊
as malaysian, can i open cimb singapore account?
Can! Here's the guide: ua-cam.com/video/mXjaob63K2w/v-deo.htmlsi=MKAG_XJmWTStSBxl
How to buy BTC as a Malaysian? Cant seem to access Binance and IBKR doesnt allow my account to buy BTC
Hi, yeah at the moment IBKR does not allow Malaysian clients to buy BTC, probably due to the stringent financial regulations :x we can only wait and see - i will keep you all updated if BTC ETF is available for us!
Why not Luno?
What's your opinion on BTC ETF?
I think it's a brilliant & safe + low-cost method to get exposure to it, without the risk of the cold/hot wallet!
@@ZietInvests but can be easily manipulated by hedge funds and governements (like stock market)
When i deposit 100$ why do they charge me 30$ for transfer? Am i doing it in a wrong way or ? Based in UAE
You might have sent it through foreign telegraphic transfer, the USD 30 is charged by your bank, thats why its not encouraged to do that :x
Try this method instead, its much cheaper: ua-cam.com/video/8YeDT2ol1K0/v-deo.htmlsi=mOc6m9vuIHNAXL6c
@@ZietInvests Wise doesn’t work in UAE you see that feature of adding and balance you can’t see it here . I open wise i only see exchange options
Do not spread your withdrawal within a short time period.
This is structuring, you will still get triggered.
If you are not doing anything shady then just withdraw all of it lump sum and be ready for your Bank to call you and provide all the necessary documentation to proof the source of fund.
Or if you need X amount on a certain periodical basis then monthly is the best bet. It will still trigger but as long as not too large then they may potentially let it go if your profile is matching the amount you are transacting.
#Not a money laundering advice
Has anyone ever told you that you sound like you have a Caribbean accent?
Is that true Moomoo started the Malaysian operations today? TQ
Yes they have! Can get cool rewards if you are interested: j.moomoo.com/00JRcf
@@ZietInvests I'm interested to use your promotion. Please do a demo for account opening asap. TQ
What's the problem even if your withdrawals trigger the authorities?
If your trading is legit, if the broker is legit, then just pay the relevant taxes on income and there's no problem. Right?
Granted that IB like many other foreign brokers are on the Malaysian security commision alert list, by virtue of it being an offshore brokerage, without licence and not regulated by Malaysian laws, it is just a precaution notice and is not illegal.
That's my take on the matter