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Kai

21 Jan 2020

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Beginner here: Intending to do a lot more U.S. ETFs after gaining some practice in local stocks. What currency should I open my SAXO account?

Hello, I'm already doing RSP with DBS on STI ETF. Threw in 800 into DBS RSP STI ETF, found the returns deplorable Compared to what I read about U.S. ETF like s&p 500 and Semiconductor funds. I don't have 100,000k to throw in with interactive brokers!

SAXO seems to fit my needs for now, but should I open in USD or SGD account? I heard from friends that SAXO will rip you off on FX rates. I have DBS multi-currency account, not sure if that helps. Please advise!

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pat

20 Jan 2020

Open a IB or TD account and fund it using USD. this way, you get a decent charting platform and the fees is attractive enough. You don't need 100k to put into IB or TD, they have different tier of account for you to select.

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Hi is there any way to change the base currency of my SAXO account from SGD to USD, without the need to open a sub-account? Cause I don't want to absorb extra fees for my buy/sell orders for US stocks?

Which brokerage account to open. I have decided to put in 8K to kick start my DIY ETF investment. which custodian account (stocks holding type) is reliable to grow my $ inside. Intend to DCA.

I am planning to buy some US ETF, as well as some SG ETF. Should i open a local brokerage only or both a local and overseas brokerage to save on currency conversion?

I had SGD as my main currency on Saxo and opened a USD sub account. When selling USD denominated positions on the SGD account, will it still auto convert back to SGD?

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