Charles Chang

09 Jan 2021

∙

General Investing

What is the currency exchange rate like for TD Ameritrade? Is it better than SAXO and FSM?

Is the currency exchange rate like for TD Ameritrade better than SAXO and FSM?

FSMOne Fundsupermart TD Ameritrade

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Chris

09 Jan 2021

Owner and Writer at Tortoisemoney.com

TD Ameritrade uses close to spot rates, FSMOne uses spot rates and SAXO is the worse of the three.

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What is the exchange rate like for TD Ameritrade?

I've positions worth 100K in Saxo. I should have researched better as I realise that I'm loosing money on custody fees and exchange rate. Is it better to switch to IB? Will I have to sell positions?

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%?

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?

Does anyone know if SGD be exchanged to USD in TD Ameritrade and what are the incurred charges? I read that TD charges preferential rates, what does that mean?

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Related Posts

What is the exchange rate like for TD Ameritrade?

I've positions worth 100K in Saxo. I should have researched better as I realise that I'm loosing money on custody fees and exchange rate. Is it better to switch to IB? Will I have to sell positions?

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%?

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?

Does anyone know if SGD be exchanged to USD in TD Ameritrade and what are the incurred charges? I read that TD charges preferential rates, what does that mean?