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Varun

17 May 2020

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General Investing

SAXO is charging me 0.75% fee on every transfer i make from my Singapore bank account to SAXO USD account. Has anyone found a way to avoid these fees on SAXO?

Their support is adamant on the fees. I find the % quite ridiculous, as its exponential to the amount and it already starts me with negative..

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Julius Chung

17 May 2020

Hey man, there's a blog post about this which I think might be relevant to you!

https://theiwordsg.com/how-to-reduce-brokerage-...

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PillowCase

19 Apr 2020

Hi there!

One little trick to minimise currency conversion fees would be to top your Saxo Account with a Revolut Account. A Revolut Account provides currency conversion at significantly lower fees compared to normal banks.

Hope that helps!

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Related Posts

How can I fund my Saxo trading account (base currency USD) from a Singapore bank account with SGD balance? Can I use money transfer service such as Transferwise or Instarem? What's the cheapest way?

Anyone transferred USD from a Bank of America account to a TD Ameritrade Singapore account (I can't seem to get that to work, it was way easier when they are not in SG as we can ACH)?

What is the cleanest way to transfer USD to SAXO account or simply to incur SAXO fees of 0.75%?

I am currently using transfer wise to fund USD to my saxo account. Can I check if there are interbank fee charges apart from the SWIFT charges?

Hi,my daughter is going to the US to study. What is the best way to send money from Singapore to a local bank in the US? If I use DBS remit, will the US bank charge any transfer fees on the recipient?

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