Advertisement

Anonymous

04 Aug 2020

∙

General Investing

Should I set up my Saxo account with USD or SGD as the base currency?

I understand that if I buy US stocks with the base currency in SGD, the money would get converted twice when I buy and sell. But with the base currency in USD, it would only get converted once when I make the initial deposit.

Any other considerations I should take into account when making this decision? I plan use this to buy and hold VWRD. Thanks!

5

Discussion (5)

What are your thoughts?

Learn how to style your text

Frankie Rappaport

17 Jun 2020

Let only services like TransferWise do any currency conversions into your own account, never should your bank or broker do that because of the high fees.

VWRD is fine

https://seedly.sg/questions/what-is-your-genera...

Reply

Save

View 3 replies

Ying

16 Jun 2020

Hi I have the exact same question as you. Have you found out which is better in terms of value wise?

Reply

Save

Write your thoughts

Related Posts

Hi is there any way to change the base currency of my SAXO account from SGD to USD, without the need to open a sub-account? Cause I don't want to absorb extra fees for my buy/sell orders for US stocks?

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?

Can I fund my Saxo account with my UOB Mighty FX USD account to trade in USD while it currently has SGD in my Saxo account? Or is it only possible to have one currency in my Saxo account?

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?

How to transfer USD out of SAXO and into DBS Multi-currency account? Settings in Saxo require Clearing code and BIC, which SAXO requires, but DBS doesn't have.?

Related Products

Saxo Markets

4.5

958 Reviews

US$1

MINIMUM FEE

0.03% to 0.08%

TRADING FEES

Custodian

STOCK HOLDING TYPE

Moomoo Singapore

4.7

484 Reviews

Syfe Trade

4.9

131 Reviews

Related Posts

Hi is there any way to change the base currency of my SAXO account from SGD to USD, without the need to open a sub-account? Cause I don't want to absorb extra fees for my buy/sell orders for US stocks?

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?

Can I fund my Saxo account with my UOB Mighty FX USD account to trade in USD while it currently has SGD in my Saxo account? Or is it only possible to have one currency in my Saxo account?

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?

How to transfer USD out of SAXO and into DBS Multi-currency account? Settings in Saxo require Clearing code and BIC, which SAXO requires, but DBS doesn't have.?

Advertisement