Note that all existing IB account holder is under IB-US hence will not be able to trade SG shares. You need to open a IB-SG account separately in order to trade SG shares, www.interacticebrokers.com.sg
IB have no plan to migrate existing IB-US Singapore residents account to IB-SG so if you already have a IB-US account you can open a SG account then do a transfer of all assets from US Acct to SG Acct then close your US Acct.
Note that the SG Acct will not have the SIPC protection but follows the MAS regulations.
I think it is best to wait until there is an official announcement from IB regarding account transfer. For all we know, they could be implementing the same transfer procedures as IB AUS had done when they officially opened in Australia; IB customers in Australia were able to simply transfer their IB US accounts to IB AUS by signing an online authorisation form and then IB did the rest of the work. Here’s the official IB information page regarding the transfer of accounts when IB Australia opened. https://ibkr.info/node/2928
1 Like