In this post,i am going to show how to set up a brokerage account with interactive broker.

So, why choose Interactive Broker(IBKR) as a brokerage?

Pros

  • Good customer service, asked some queries on the account fee using the chat interface and was answer promptly
  • Fees of USD 0.005 per share or min $1.00 USD (Cheapest stock brokerage for Singaporean investors to invest in US Stock Market)

Cons

  • Singaporean are only able to invest other country stock(US and UK) and cannot use IBKR to invest in Singapore stock
  • Must transfer money to your custodian bank account assign to you and they will update your account balance(Updating of balance in the account generally takes an hour not immediate)
  • An activity fee of min $10 per month,if your account is below $100,000(This mean that you will have to trade 5 time per month due to the min comission of $1.00)

Onto the step by step guide on how to set up a brokerage account with interactive brokers!

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