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Anonymous

07 Apr 2021

∙

General Investing

Now that SAXO has reduced its currency exchange rate from 0.75% to 0.3%, does it still make sense to use Transferwise or just do the conversion directly in SAXO?

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Saxo Markets

07 Apr 2021

You may find it convenient to fund your SGD sub account and transferring the funds to your USD sub account (at a currency conversion fee of +/- 0.3%)

Deposit and Transfer Sub-account transfer

https://www.home.saxo/en-sg/rates-and-condition...

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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%?

Hi, I note that Direct Crediting Service for foreign currency (such as USD or EUR) is available but the exchange rate used is extremely low.

I'm currently using StashAway and Syfe as my Robos/passive investment (most aggressive portfolios) and exposure to ETFs. Does it still make sense to use DBS Invest-Saver?

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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%?

Hi, I note that Direct Crediting Service for foreign currency (such as USD or EUR) is available but the exchange rate used is extremely low.

I'm currently using StashAway and Syfe as my Robos/passive investment (most aggressive portfolios) and exposure to ETFs. Does it still make sense to use DBS Invest-Saver?

If you invest/trade in the US market and earn profits, how is the currency conversion done? E.g. USD to SGD. Is it done through the respective broker's exchange rate?

If I do not have to pay any taxes in a particular year because I have enough reliefs/rebates that reduce my tax to $0, does it still make sense to contribute to SRS?

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