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Anonymous

13 Dec 2021

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General Investing

Ibkr currency convert

I saw many ppl recommend the ibkr currency converter because of the low spread, but i tested with sgd$10 and it shows me only usd$7 back?? Does it always omit the cents? Then isnt it much worse compared to other exchanges? Pls can someone who used it before help?

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Not a financial advisor

13 Dec 2021

Yes it has almost 0 spread but there’s a fee :)

https://investors.interactivebrokers.com/en/ind...

So, it’s not a good idea to use IBKR if you wanna exchange a small amount only

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I just transferred $13,000 SGD to IBKR. I plan to buy some US stocks, i.e. NVDA. Should I just proceed to buy leaving the currency in SGD or should I get IBKR to convert it to USD first. Thanks

With regards to FSMone's RSP foreign currencies ETF, would FSMone auto convert SGD to the respective currencies for the RSP or do I have to manually convert money to the respective currencies?

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