Monday, 21 September 2020

(Post 186/ Yr 4 Wk 2)Learning investing/trading together #31:How to purchase a stock with Tiger Broker mobile

In this learning investing/trading post,i am going to show how to purchase stock through tiger brokers

For a review of tigers brokers by seedly,you can refer to here!

For creating an account with tiger broker,you can refer to here!

For funding your account with Tiger Brokers,you can refer to here!

Why choose tiger brokers as a brokerage?

Pro
  • Good customer service,when my account wasn't funded after about an hour , I give a call to tiger brokers customer service and my account fund was immediately updated within 5 min 
  • Tiger Brokers is probably the cheapest brokerage commission available for Singapore resident out there who wish to invest in Singapore Stock and only second to Interactive Broker for US stock(refer to fees tables below)
  • Unlike Interactive Broker, it does not have a monthly activity fees of $10
Cons
  • New brokers,may not be reputable and established as existing Singapore brokers such as DBS vicker or international brokers like TD Ameritrade and Interactive Brokers
Onto the step by step guide on how to purchase  a stock using Tiger Brokers!

1) Transfer money into your Tiger Brokers

How much to transfer?

Well it depend on how much your budget to purchase stocks and whether you have enough in your bank

Currently, the brokerage charges for Tiger Broker(Singapore Market) are as follows:

Source:Tiger Brokers Singapore





And as for the US Market

Source:Tiger Brokers Singapore

With such cheap fees,you can purchase stocks(e.g DBS) and dollar cost average at a low cost, say bye bye to brokers who charges $10 commission fees!

Note:You can invest in any amount you like,of course subjected to your bank account:)

2)Time to purchase some stock!

For me,i mostly use the mobile app to purchase as it way easier and faster

First,you log in to your mobile app,tap on the magnifying glass icon on the top right hand corner to search
the stock tickers e.g DBS(D05)

Source: Tigers Brokers Singapore


Tap on DBS GROUP HOLDING PTE LTD(D05)

Source: Tigers Brokers Singapore


Tap on Trade
Source: Tigers Brokers Singapore

Tap Buy/Long.In my case, i am buying DBS stock(D05)

Source: Tigers Brokers Singapore

The plus point for tiger brokers,is that it provide real time Level 1 data for SGX at no extra charges compares to resources like yahoo finance,where it is delayed.This allow you to determine your buy price precisely.
Source: Tigers Brokers Singapore

The terms are explained as follows:

Code:DBS GROUP HOLDING (Stock Code)

Direction: Select buy if you want to buy shares and select sell if you want to sell the shares(In my case,i select buy)

Type or order type:Limit order(buying or selling a share at specific price.Always choose Limit order!!!,market order(buying or selling a share at the current market price where order get filled immediately)

Limit Price: The price you would like to buy/sell your share at(In my case, I enter at 21.79)

Quantity: How may share you would like to purchase(In my case, I select 100)

Note:In Sgx, 1 lot=100 shares

Ignore buy on cash and buy on margin unless you are leveraging

Amount: Shares x price (100 x 21.79=$2179.00)

Valid period:Day Order(A day order is a order good for that business day only.If the order is not filled by the end of today market close,it will expire.This is the order we are going for, for simplicity sake)

Then click Buy,the order details will appear.

Source: Tigers Brokers Singapore


Double check your order detail and tap confirm

To check if your order is filled.Tap on trade then tap order.An example of filled order is shown below.


Source: Tigers Brokers Singapore

Once your order is filled,you are done!(You have made your first investment!)

Pretty easy right?(Do watch out for my next post,thanks for reading!)

Saturday, 29 August 2020

(Post 185/ Yr 3 Wk 46)Learning investing/trading together #30:How to fund your tiger brokerage account

For a review of tiger brokers by seedly,you can refer to here!

As for creating an account with tiger brokers ,you can refer to here!

In this learning/trading investing post,i am going to show how to fund your tiger brokers account!

For Singaporean investors, we would just simply do a bank transfer to the tiger broker account number

So,why choose tiger brokers as a brokerage?

Pros
  • Good customer service, when my account wasn't funded after about an hour, I give tiger brokers a call and my account fund was immediately updated after 5min.
  • Tiger is probably the cheapest brokerage available for Singaporean resident out there to invest in SG stock(refer to fees table below)
  • Unlike interactive broker, it does not have a monthly activity fees of $10
Cons
  • New broker,may not be reputable and established as existing Singaporean brokers such as dbs vickers
  • 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 from 30 min to an hour not immediately 
  • For purchasing of US share,Interactive brokers commission is still cheaper and TD Ameritrade commission is free
Onto the step by step guide on how to fund your brokerage account for tiger brokers!

1) Transfer money into your tiger brokers Account

How much to transfer?

Well, it depends on how much your budget to purchase those stock and whether you have enough in your bank

Currently, the Brokerage charges for tiger broker(Singapore market) are as follows:

Source:Tiger Brokers Singapore
And as for US market:
Source:Tiger Brokers Singapore

Hence, the minimum amount one should invest to maximize the brokerage fee is actually any amount they wish to invest or trade in stock (with 0.08% commission, it allow you to dollar cost average into Singapore stock, e.g. DBS)

***Note: You can invest in any amount you like, in my personal case I use either $3000 or $5000 or $7000

So you have decided the amount? What's next?

Transfer the money, of course!

2)Transfer your money to fund your tiger brokerage account

Log in to your tiger broker account. Tap on me(White circle),then tap on Account Summary(orange circle)

Source:Tiger Brokers Singapore 

Tap on fund deposit

Source:Tiger Brokers Singapore 


You will be brought to this page,tap on Deposit with SGD

Source:Tiger Brokers Singapore 

Tap on Singapore Bank Accounts

Source:Tiger Brokers Singapore 

You will be brought to this page, scroll down and select the bank you wish to transfer the money from (in my case, I select DBS bank)

Source:Tiger Brokers Singapore 

Tap on View Payment Information

Source:Tiger Brokers Singapore 

Then tap on View Wire Transfer operation example

Source:Tiger Brokers Singapore 

Log in to your DBS I banking account and select transfer money

Source:Tiger Brokers Singapore 
Tap on one time transfer and tap on transfer to other DBS /POSB

Source:Tiger Brokers Singapore 

Enter Recipent name and Enter Account No and Tap Next(The beneficiary name and The bank account number ,you have previously copy)

Source:Tiger Brokers Singapore 
If the recipient name is more than 20 char, just leave it as tiger brokers sg

Enter the amount you wish to transfer (E.g. $0.01) and then tap next.
Source:Tiger Brokers Singapore
Then screenshot the page below to provide as proof of deposit

Source:Tiger Brokers Singapore
Go back to tiger brokers app and tap on "funds remitted, inform tiger to check"
Source:Tiger Brokers Singapore

Select the remittance currency, enter the remittance amount and the remittance bank account number that you have used to transfer. Scroll down and tap on upload pictures. After that,Tap on Submit Deposit Notification.
Source:Tiger Brokers Singapore

And you are done! Do follow up with the customer service if your account is not funded within the next 1hr

Hope this guide helps!

Wednesday, 8 July 2020

(Post 184/ Yr 3 Wk 39)Learning investing/trading together #29:How to purchase stock using IBKR(Interactive Brokers) mobile

In this learning investing/trading post, I am going to show how to purchase stock through IBKR(Interactive Brokers) through Mobile App


Do check out my other post on IBKR!

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

Pros
  • Good customer service, I did ask some queries even before my account was approved regarding whether there is any charges on wire transfer(There are no charges, btw) using the chat interface and was answer promptly
  • Fees of $0.005 per share or min $1.00 USD(whichever is higher)
Cons
  • 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 commission of $1.00)
Onto the step by step guide on how to purchase stock via IBKR!

1)Transfer money into your IBKR Account

How much to transfer?

  • Well, it depends on how much your budget to purchase those stock and whether you have enough in your bank
  • Currently, the Brokerage charges for IBKR(US market):$0.005USD/Per share, min $1.00  or $0.035USD/Per share,min $0.35
  • Hence, the minimum amount one should invest to maximize the brokerage fee of $1.00 is actually any amount they wish to invest or trade in stock(if you cannot afford a $1 commission fee, well...)
  • IBKR is probably the cheapest brokerage available for non-US-tax resident out there.Unfortunately TD Ameritrade has since introduce $0 fees for Sg investors,so TD is now the cheapest.
  • ***Note: You can invest in any amount you like, in my personal case I use either $3000 or $5000 or $7000
So you have decided the amount? What's next?
  • Transfer the money, of course!
  • Please refer to the step by step guide on how to fund your IBKR brokerage account that I have written,here
2)Time to buy some stock!


For me ,i mostly use mobile app to purchase as it is way easier and faster

After you log in to your mobile app,tap the green circle with up and down arrow(green circle)



Tap quote to search your stock ticker 


Enter the stock ticker you wish to purchase e.g
starbuck(sbux)

Tap on the starbucks corp,(*remember all stock in US market are trade in one of the three U.S. stock exchanges: New York Stock Exchange, Nasdaq, and American stock exchange)



You will be brought to the screen below,click on buy


You will then be brought to the screen below


The terms are explained as follows:

Allocation:Your IBKR account number

Buying power:How much cash you currently have in your account to purchase shares

Position:The current number of share you own for this stock(In this case,I own zero shares)

Quantity:How many share you would like to purchase(In my case, I select 10),and the total amount of the share multiply by the limit price

Type or order type: Limit order(buying or selling a share at a specific price, Always choose Limit order!!!), market order(buying or selling a share at the current market price or also known to buy or sell the shares immediately, OR Order get filled immediately)

Limit price:The price you would like to buy/sell your share at(In my case, I select at $74.00)

Time-in-force or Duration: DAY Order(A Day order is a limit order good for that business day only. If the order is not filled by the end of the trading day, the order will expire.This is the order we are going for, for simplicity sake.)

Display size:can ignore it

Another advantage of interactive brokers is that it allow you to attach profit taker as well as stop loss,which some brokers may not include this feature

*When a market is experiencing more buying volume than selling volume, it means that there are more traders buying at the ask/buy price, which has a tendency to push the price up.And likewise for the opposite

                             

After double checking your details ,slide to submit buy and you will be brought to the orders and trade page.If your order is filled, you are done!(Congratulations,You have made your first investment!😁)


Pretty easy right?If you would like a guide on how to purchase stock using IB TWS through desktop,do comment below.

Thanks for reading!

(Post 183/ Yr 3 Wk 36)Learning investing/trading together #28:How to convert currency using IBKR(Interactive Brokers)mobile

In this learning investing/trading post,I am going to show how to convert your currency using IBKR mobile so that you will be able to purchase stocks of the particular country that you wish to convert your currency to. 

Do check out my other post on IBKR!






1.Log in to the IBKR mobile app

2.Tap on the three bar(Black circle) at the top left hand corner




3.Select convert currency 

4. E.g. i want to convert USD to SGD



5.Select and enter the currency that you have and wish to convert e.g 1 USD




6.Select and enter the currency that you want to convert to e.g SGD


7.Next,Slide to convert and your order will fulfill due to market order(*Do note that your there will be a commission charges, which will count toward your monthly activity fee of $10)

What is market order?
  • Buy or sell at the current Ask price(Order get filled immediately)
To me,this is the fastest and easiest way to convert your currency using interactive broker and perhaps one of the cheapest way to convert your money. Next time,if you would like to travel to another country for holiday,do consider using interactive broker as an alternative to the money changer as its spread rate are simply wonderful. Best of all,it can be done in the comfort of one home Hope you find this post useful!

Monday, 6 July 2020

(Post 182/ Yr 3 Wk 39)Learning investing/trading together #27:How to fund your IBKR(Interactive Brokers) account

In this learning investing/trading post, I am going to show how to fund your IBKR(Interactive Brokers) brokerage account. 

Normally for Singaporean investors, we would just simply do a bank transfer. However, for IBKR, we would have to fund your brokerage by wiring money to it(which is pretty much the same as a bank transfer)

*Do refer to my guide on how to set up an IBKR(Interactive Broker) account if you have not done so, here.

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

Pros
  • Good customer service, I did ask some queries even before my account was approved regarding whether there is any charges on wire transfer(There are no charges, btw) using the chat interface and was answer promptly
  • Fees of $0.005 per share or min $1.00 USD(whichever is higher) or $0.035 per share or min $0.35
Cons
  • 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 at least 5 time per month due to the min commission of $1.00)
Onto the step by step guide on how to fund your brokerage account in IBKR!

1)Transfer money into your IBKR Account

How much to transfer?

  • Well, it depends on how much your budget to purchase those stock and whether you have enough in your bank
  • Currently, the Brokerage charges for IBKR(US market):$0.005USD/Per share, min $1.00 or $0.035 per share, min $0.35
  • Hence, the minimum amount one should invest to maximize the brokerage fee of $1.00 is actually any amount they wish to invest or trade in stock(if you cannot afford a $1 commission fee, well...)
  • ***Note: You can invest in any amount you like, in my personal case I use either $3000 or $5000 or $7000

So you have decided the amount? What's next?
  • Transfer the money, of course!
2)Transfer your money to fund your IBKR brokerage account

Log in to your Interactive Broker account. At the homepage, scroll down and click on transfer fund(black circle)



Click on Make a deposit



Scroll down and under Bank wire, click on HOW TO WIRE FUNDS


Enter the Sending Institution, Account Number, and Account Nickname. In my case, I use DBS, and my Sending Institution will be DBS BANK LTD, SWIFT/BIC code will be DBSSSGSG, and the account number will be your bank account number. You can check up your SWIFT/BIC code at the SWIFTcodes.com.

Select No to " Is your bank/financial institution located in Hong Kong or Mainland China? ".


Change the currency according to the country you live in.As i live in Singapore, it will be sgd

Enter the deposit amount that you wish to transfer,e.g $3000

Click on No for " Would you like to make this a recurring transaction?"



Then scroll down and click on "Make a deposit"


After getting the routing details,use the routing details to initiate a FAST transfer.




Log in to your IBKR account and transfer fund. In my case, I use DBS, go to transfer, and select To Other Bank Account(Fast). You will then be brought to the page below.

If this is your first time transferring, leave the paying to option as default

Follow the routing instruction as above,

Recipient Name: Interactive Broker LLC.

Recipient Bank: CITIBANK NA

Recipient account: The Bank account number as above



Transfer Amount: Enter the transfer account e.g $3000

Purpose of Transfer: Investment & Securities

Comment for the recipient: Your interactive broker account number, refer to picture below(UXXXXXXX)

Then, click next and you are done




*Do note that Updating of balance in the account generally takes an hour not immediate

Withdrawal is similar to depositing. Although depositing is always Free using FAST, Interactive Brokers only allow 1 Free withdrawal per month or you will be charged SGD$15 per withdrawal.

If you would like me to write an withdrawal article,do let me know in the comments below!