2. Nearly daily calls were made to IBKR SG and 30 messages were sent to IBKR SG due to large fund involved. All calls, except one answered by AU team, IBKR SG and India provides robotic responses.
4. Separately, my fund transferred worth hundreds of thousands from Australia NAB bank to SG Bank also experience delay due to anti-scam measures. Despite going thru the aging SWIFT system and dealing with 2 aging banks, cross-border remittance was successfully transferred within half a day. Meanwhile, the agile new IBKR SG, clocking 3 months delay on mere a SGD60 transfer with robotic answers.
5. For the issue with NAB Bank and SG Bank, a complaint was also raised. NAB and SCB summarized the matter correctly, promptly investigated and wholly addressed the issue within 5 working days with satisfactory compensation.
6. For IBKR SG, complaint then escalated to MAS dated 17 Jul and 28 July (10 days gap because IBKR SG was perpetually “investigating” SGD$60). IBKR SG took 94 days to reply.
a. The reply was evasive. It only answers the area they able to address and omitted the parts that will clearly show their errors.
b. The reply does not provide any insight or value-add for the 94 days it took.
c. In breaching MAS Technology for deleting entries. IBKR SG evaded it and answer that is not related to the concern raised.
d. For corporate practices of repeatedly closing ticket without resolving the matter and then re-opening a new ticket of identical problem to manipulate aging dashboard of customer complaints > IBKR kept quiet and did not addressed it.
f. It is ridiculous for a company to take 94 days to “investigate” SGD60. This shows serious deficiency of competency under MAS Fit & Proper criteria. IBKR acknowledge that the funds were successfully received but due to internal policy (the beneficiary was IBKR instead of Interactive Broker), refuse to apply it to my account. Despite the monies were not automatically rejected/routed out and that it was a manual outbound refund by IBKR SG Cashier Dept, IBKR said they would not apply “free” withdrawal. As result entire HKD50 was swallowed up by fees. And HKD129k was charged HKD300. IBKR refused to explain the discrepancy of the HKD50 vs HKD300 “fees” charged. In all, IBKR blames their very own DBS bank as basis that IBKR SG would not pay compensation.
g. For the HKD129, IBKR promised in writing on 8 July 2026 to refund them to SCB by 9 July 2026. However IBKR SG deliberately withheld the fund and only refunded them 27 Jul 2026. Damn 23 days overdue. Throughout those 23 days, I called IBKR SG in panic and frustration – IBKR SG responded robotically and hung up my calls. In that 23 days HKEX stocks that I was planning to buy rebounded exponentially. See graph below. I requested for time lost compensation IBKR SG evaded the question regarding their lack of urgency attitude and refused to compensate. See print screen.
IBKR SG also demonstrate poor adherence to MAS E-Payment User Protection Guidelines and Shared Responsibility Framework.
8. In another complaint of AUD transfer on 29 Jul 2026 worth AUD137k, IBKR SG literally took 30 days to read the document attached [proof of deposit] and still misread the files attached.
9. I am envious of IBKR SG CEO, Lin Yujun. A CEO who rides on an American successful business model without adhering to fintech agile values or western customer-oriented solutions. A team of SG employees who sticks to robotic scripts, uses ChatGPT in their responses and took 3 months to explain that HKD50+HKD300 (SGD60) has gone missing due to “fees” cast serious doubt on the Fit & Proper and competency of the management team.
10. In the guidelines, and MAS acknowledgement, entities are supposed to take between 14-20 working days to respond. It is incomprehensible that IBKR SG takes 3 months to “investigate” and deny compensation for HKD50+HKD300+time cost (SGD60). Imagine how many years would IBKR SG need if they were to even sniff at a complex money laundering or fraud cases. They would have entirely missed STR filing deadlines.
11. If the performance of SG team is measured on their ability to be evasive, drag investigation without sense of proportionality and deny compensation regardless of situation – and simply ride coat tail of innovation from IBKR US – it is best to eliminate and retrench sg employees so that MAS Individual Accountability and Conduct does not apply at all.
1 Sept update - for >1 month i did not interact with IBKR. However 5 days after this review was published. IBKR wrote they are terminating my account based on article Article 2.01 for disability, discriminating, illegal content - none which which are true because the same content that was approved by TrustPilot, google review, and reddit as not-offensive.
在 IBKR Lite 网站遇到问题后,我用用户名和密码登录了 IBKR Global 网站。之后有人把我的账户记上了错误交易损失,金额 17,000 美元,佣金大约 600 美元。过去五个月我一直在试图拿回 140,000 美元的现金和欺诈损失。他们拒绝撤销这些交易。Better Business Bureau 评分 1 分(满分 5 星)。