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New to Interactive Brokers (IBKR) and overwhelmed by its interface? Youโre not alone.
Iโve been using IBKR since 2021 and while itโs powerful, itโs not the most beginner-friendly. This video skips the fluff and walks you through only what matters to start your investment journey, whether itโs a simple BUY trade or setting up automated monthly investing (RSP).
๐ Why use Interactive Brokers?
โ
Global market access
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Superior FX rates
โ
Ultra-low cost pricing from just US$0.35/order
In this video:
Step 1: Open an IBSG account
Step 2: Configure account and features
Set account type, base currency, and trading permissions
Step 3: Fund the account
Via eGIRO for SGD or DBS MyAccount for USD
Step 4: Currency conversion
Convert SGD to USD if needed
Step 5: How to buy stocks or ETFs
Search, preview, and place a trade
Step 6: How to do recurring buy (RSP)
Set schedule, amount, and ensure funds are ready
These are the basic and essential steps to get started. IBKR is a powerful platform with much more to explore. Once you're familiar with the website, the mobile app becomes a breeze.
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