Cheapest way to buy IWDA + EIMI

As far as I have read up on Seedly and HWZ, IB is one of the best brokers to use. However, do I deposit SGD and then trade forex or convert currency? If trade forex, I suppose I should use limit order? If so, what price should I indicate for these orders?

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thefrugalstudent

05 Sep 2021

Founder at thefrugalstudent.com

Hi Anon,

If you have USD lying around in one of your accounts, you can transfer it directly into your IBKR account via DBS - it's free.

Otherwise, you can fund your account with SGD and then convert to USD. IBKR has near spot rate FX rates, so you'll get a good rate on the conversion. The price you pay for this is 2 USD, but that's peanuts if you're looking to convert a few Ks.

Hope this helps!

Regards,
thefrugalstudent

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