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Adam

24 Feb 2023

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IBKR SGD to USD conversion fee

I converted some SGD to USD in IBKR and I know the commission should be 2 USD but it is reflected as 2.91. My base currency is USD so I assume this is in USD. Any ideas why?

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Choon Yuan Chan

01 Mar 2023

You forgot about the new GST!

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Tan Choong Hwee

25 Feb 2023

Investor/Trader at Home

Yes, as mentioned by @SamC, the commission is in SGD, includes 8% GST.

Here is the calculation:

2 x 1.34885 x 1.08 = 2.91

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SamC

25 Feb 2023

It's in SGD. Similar to if you buy SG stocks, it will show commision in SGD. Whereas when buying US ...

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I have a DBS multiplier account. Should I deposit Stashaway/Kristal.AI in USD currency directly and avoid their conversion fee? OR deposit in SGD and allow the robo advisors to do the FX conversion?

Hi has anyone here used Tiger Brokers? May I ask if there are any conversion fees when converting SGD to USD and vice versa? And am I able to keep my cash in terms of USD after I sell my US stocks?

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%?

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