Hi Kevs! CMS100917). Headquarters: One Pickwick Plaza, Greenwich, CT 06830 USA Website: www.interactivebrokers.com, Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Trading on margin means that you are trading with borrowed money, also known as leverage. Registered Office: 4 rue Robert Stumper, L-2557 Luxembourg. Also, how much % tax is deducted on dividends received? Registered Office: 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada. Registering Court: Company Registry of the Metropolitan General Court. I used the desktop log-in, post updated already! Many great research tools. I now have an IBKR account. Wire transfer fees really sting especially if I want to do some dollar cost averaging on a monthly basis. I pay him through free lunch haha. Interactive Brokers ®, IBSM, InteractiveBrokers.com ®, Interactive Analytics ®, IB Options AnalyticsSM, IB SmartRoutingSM, PortfolioAnalyst ®, IB Trader WorkstationSM and One World, One AccountSM are service marks and/or trademarks of Interactive Brokers LLC. I’m thinking of doing this until I come up with a more efficient way of transferring to IBKR or until I just have a bigger monthly income that I can go straight to IBKR monthly without feeling the fee too much LOL. In the comments you’ll see that a trick I use is also to give cash to a friend with a US based account – wiring from there costs only 4 USD per wire. Registered Office: Suite 1512, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong SAR. Is a member NYSE - FINRA - SIPC and regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. . Registered Office: 502/A, Times Square, Andheri Kurla Road, Andheri East, Mumbai 400059, India. Kind of unfair since I was literally charged to “withdraw” and use the cash I brought! I read on their website that you cannot simply deposit the amount and then withdraw it after your account … Here’s communication received from Interactive Brokers Compliance Director regarding TransferWise withdrawals. The best online brokers for beginners in the Philippines in 2021 are: Saxo Bank - the best broker for beginners in the Philippines in 2021. Great trading platform. All of these brokers are considered … You are correct, BDO will not let you buy USD to deposit in your account. Registered Office: 1075 Budapest, Madách Imre út 13-14., Hungary. Thanks for the advice! BDO exchanges currency at the bank only if you’re going to use it for travel. I will do that until my holdings reaches 9000 USD, at which point I will withdraw from etoro and wire to my IBKR account. Right now, the compromise strategy I have in mind is this: I will implement my monthly ETF investment plan on etoro, taking advantage of its low cash-in fees. I researched Lite before because I heard about the commission free trades but unfortunately it is not yet available for citizens of the Philippines. @Chris You can also initial this fund transfer through the mobile app. I haven’t withdrawn money from IBKR yet but on their site here it states that there is no charge for the first withdrawal of any kind per month but succeeding withdrawals have charges. That last option is probably the most cost-effective plan so long as the free lunch is less than 30 dollars! @Alpha Sorry for hijacking your comment section! Here’s what you need to fund your account: There is a step by step guide from Interactive Brokers here, but here are the general steps with screenshots from my mobile app: Go to “more” on the bottom right of the app (or look for it on the website) then click account management: After that, Interactive Brokers will provide data on the account number and the bank that you should wire your money to, make sure you save the information (just take a screenshot). Brokers have the ability to add an Advisor account with clients, a Multiple Hedge Fund account with fund or SMA accounts, or a Separate Trading Limit account (STL) under the master account. Terrace, Dublin, D02 T380, Ireland 0 ) 3-4588-9700 ( on days... Usd Bank account and input the information that Interactive Brokers account from any US Dollar account of Standardized,. 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