Anonymous
Is it better to activate multi currency function for investment account? Assuming there's no currency conversion fee?
Better to activate multi currency function for investment account? Assuming no currency conversion fee.
While I would prefer to have my US/HK trades settle back in SGD after every trade, for ease of managing/planning and there is no conversion fee anyway, what do you guys think?
While i understand multi currency wallet is aimed at minimising risk of loss through currency fluctuation, i will typically buy after every sell. So don't foresee currency fluctuation risk.
Am I missing out anything?
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Hi there!
I believe there is always a spread when it comes to currency exchange, just like a money changer. Just like no platform helps you to invest for absolutely no charge, no platform will offer a (totally) free service of currency exchange. Or they’ll charge it from somewhere else.
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Even if they claim no exchange currency fee, they will probably mark up the fx rate and earn from there. Really no free lunch