Is anyone able to share the difference between keeping Kristal.AI Freedom account in USD domiciled and in SGD?

Hi Anon, there is no big difference.

By default, Kristal accounts are maintained in USD, this is because the majority of our ETFs are US-domiciled funds. Hence, the minute the funds are sent to the brokerage, the user’s SGD gets converted to USD at the market rate (as of when the funds are sent).

When users transfer the funds in SGD, the funds remain in SGD until the user raises a buy ticket.

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For example, User A is contemplating between maintaining his account in USD/SGD:

Scenario A

If the user maintains acc in USD:

When User A transfers USD500 to Kristal Account, his balance will be USD500. When User A raises a buy ticket, the funds are automatically deducted in USD.

Scenario B

If the user maintains acc in SGD:

When User A transfers SGD500 to Kristal Account, his balance will be kept at SGD500, When User A raises a buy ticket, the SGD500 is converted into USD based on the FX (0.2/cent + market rate) at the point of purchase.

Ultimately, this lies with the user’s preference on which currency they’d like to use to maintain the accounts. We recommend clients to maintain their account in USD for ease of use.

Hope this helps to clarify!​​​