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Anonymous
Converting currencies in Interactive Brokers
New to investing here. I just signed up for Interactive Brokers, and was charged S$2.78 in commission for converting SGD to USD. I know that FX rates on IBKR are almost spot rates, but would it be better to transfer USD to my IBKR account from my DBS multi-currency account/YouTrip to avoid the commission fee, or continue converting SGD to USD from Interactive Brokers?
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I don't remember being able to withdraw money from YouTrip
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Depends how much you are converting and the fees involved to transfer. Do a comparison the next time...
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Anything below $800, transfer sgd to moomoo/tiger, exchange into usd, and withdraw usd back go dbs mca (free), and transfer to ibkr :))