How to Fund Interactive Brokers via InstaReM

Photo by : Interactive Brokers

Interactive Brokers has the best fee structure — it offers as low as USD0.35 to USD1 per transaction depending on the choice of tiered or fixed commission. I opted for a tiered opt commission.

So how do we transfer money to IBKR in a cheaper way? I am using fintech to fund Interactive Brokers and the process is very easy. Do make sure you have opened InstaReM/Wise and have an active IBKR account

Here we go! I’m gonna walk you through simple 3 steps (from IBKR, InstaReM, to any banking service).

Money Flow:
Local Currency (MYR) ➡ ️ InstaReM (HKD/SGD/EUR/USD) ➡ IBKR (HKD/SGD/EUR/USD)

If you are new to InstaReM, you may use “dDZfGL” as the referral code to sign up your account :) You will get 475 InstaPoints right off the bat upon the sign-up. You may redeem them as cash at every 400 pts, which is worth $6.

Also, do make sure you insert the coupon code “310BONUS”! You will get RM200 (~$50) instant cash rebate on your first transaction with InstaReM! ** note: only the referee can use the coupon** If the prior coupon expires, you could use GIFT to get USD 10 off.

1) Interactive Broker

*Good news! Starting July 2021, Interactive Brokers has eliminated an inactivity fee of USD $10 per month for a portfolio less than $100,000.*

First of all, go to Interactive Broker main portal -> Transfer & Pay -> Transfer fund -> Make a Deposit -> Hong Kong Dollar/Singapore Dollar/USD, bank wire.

Create your transaction ticket as shown below.

Deposit Receipt in IBKR

2) InstaReM

InstaRem

Step 2.1: Navigate to https://www.instarem.com. Create and save the recipient details based on the deposit receipt as shown above.

Step 2.2: Proceed with FPX transfer. The entire process is very smooth and quick.

Step 2.3: Ensure the details are correct and intact. Then you can proceed with the money transfer to the assigned bank account.

3) Respective Bank (CIMB/Maybank/etc)

On the checkout page, several local bank services are available for you. Proceed to your respective bank for the fund transfer. In my particular case, I navigated directly to CIMB bank. Click “Pay & Transfer” and next choose “Transfer Money”.

Select any local bank of your choice

At this point, it would be pretty intuitive. Proceed with your fund transfer thru FPX.

Within 1 business day, you should see your IBKR account is funded and they will send you a deposit notification once the fund is deposited.

You will receive notification once deposited.

We can also convert them into USD using IBKR built-in FX converter, search for “currency conversion” in the IBKR main portal or mobile apps. With that, we can convert them easily at a spot rate!

Voila! Isn’t it simple?

Instarem referral link: earn a rebate of $6 on your next transaction.
Wise referral link: Get FREE international transfer up to 500 GBP upon sign up.
IBKR referral link: Open an interactive brokers account now and start earning up to $1000 of IBKR Stock for free!
eTrade referral link
Tiger Brokers referral link: get 1 unit of AAPL stock for free upon sign up and complete deposit of S$2000.
Moomoo referral link: get 1unit of Apple stock for free upon sign up and complete deposit of $2000.
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Hope you enjoy reading! Until then, wish you all the best in investing/trading in the market. Do give a thumbsup and follow me if you find it useful.

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Engineer | Personal Finance | Investor https://www.faboppa.com

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Fabian Tan

Fabian Tan

Engineer | Personal Finance | Investor https://www.faboppa.com

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