Anonymous

26 Apr 2020

∙

General Investing

Funded sgd into Saxo and they did the conversion to USD for my purchase of USD stock last year. Now they say I can fund USD directly to my ac. How come?

Did anything change recently? Should I fund USD directly to my account? Any hidden charges to take note of?

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Frankie Rappaport

23 Apr 2020

They possibly opened up two accounts for You, one SGD and one USD, both free, which You weren't aware of.

When You bought from SGD they had to convert into USD, which is

often expensive. Try to use always TransferWise to convert&send SGD into Your USD account.

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Are you 100% sure that using Transferwise or Revolut will secure better rate than funding sgd directly into Saxo USD acc that charges currency conversion fee of mid spot rate +/- 0.75%?

Funded Saxo with sgd for buying US stocks. Now is USD account. Can I still transfer SGD to buy SG shares? Will Saxo show 2 different balances ie. SGD and USD?

What are the platforms that you are using to convert SGD to USD for the purpose of funding US stock purchase?

I just started an account with SAXO, deposited the money in SGD and bought some stocks in USD. The stock price went up. But when I looked at the stock statement, there was a profit loss in SGD. Why?

Can I fund my Saxo account with my UOB Mighty FX USD account to trade in USD while it currently has SGD in my Saxo account? Or is it only possible to have one currency in my Saxo account?

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Related Posts

Are you 100% sure that using Transferwise or Revolut will secure better rate than funding sgd directly into Saxo USD acc that charges currency conversion fee of mid spot rate +/- 0.75%?

Funded Saxo with sgd for buying US stocks. Now is USD account. Can I still transfer SGD to buy SG shares? Will Saxo show 2 different balances ie. SGD and USD?

What are the platforms that you are using to convert SGD to USD for the purpose of funding US stock purchase?

I just started an account with SAXO, deposited the money in SGD and bought some stocks in USD. The stock price went up. But when I looked at the stock statement, there was a profit loss in SGD. Why?

Can I fund my Saxo account with my UOB Mighty FX USD account to trade in USD while it currently has SGD in my Saxo account? Or is it only possible to have one currency in my Saxo account?