Advertisement

Jim

18 Jun 2021

∙

General Investing

Is it worth and advisable to convert currencies (SGD to USD) in Moomoo?

I’m new to investing and am about to invest in some US stocks using Moomoo. However, I realised that the US stocks can only be bought with USD.

Does anyone know if the currency exchange rate of Moomoo is good?
Do people usually exchange currency using the broker? If not, how do they do it?

Moomoo Singapore

1

Discussion (1)

What are your thoughts?

Learn how to style your text

Maximilian Günther

18 Jun 2021

The exchange rate is decent. For the most part, I always use the in house exchange function for my preferred brokerage (Tiger Brokers), as the rate is decent.

If the exchange rate on the brokerage is not favourable to you, you may want to try the banks, DBS and Standard Chartered offer pretty competitive forex spreads from my personal experience.

Reply

Save

Write your thoughts

Related Posts

Can anyone advise which is the best broker to use for US market, taking into account that I have a multi-currency account and prefer to keep USD rather than constantly converting between SGD-USD?

I had SGD as my main currency on Saxo and opened a USD sub account. When selling USD denominated positions on the SGD account, will it still auto convert back to SGD?

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

How do you convert SGD to USD to invest in US stock markets with minimum currency loss?

For those who are using FSMone RSP for S&P 500, do I need to manually convert my currency from SGD to USD?

Related Products

Moomoo Singapore

4.7

484 Reviews

From $0

MINIMUM FEE

0.03%

TRADING FEES

Custodian

STOCK HOLDING TYPE

Related Posts

Can anyone advise which is the best broker to use for US market, taking into account that I have a multi-currency account and prefer to keep USD rather than constantly converting between SGD-USD?

I had SGD as my main currency on Saxo and opened a USD sub account. When selling USD denominated positions on the SGD account, will it still auto convert back to SGD?

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

How do you convert SGD to USD to invest in US stock markets with minimum currency loss?

For those who are using FSMone RSP for S&P 500, do I need to manually convert my currency from SGD to USD?

Advertisement