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Anonymous
What is the exchange rate like for TD Ameritrade?
Recently got my TD account open, would like to find out:
- What is the exchange rate like since they directly convert my SGD to USD
- How do i transfer money from TD back to my SG bank account, does it auto convert back or have to transfer back in USD
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Deposits to TD must be in USD. Hence if you wire from your local bank, it will be converted to USD based on the bank's spot rates.
The easiest and most cost effective way is thru DBS multiplier account. Apply via email to TD for FAST transfer from your DBS acc. From there, you will be able to txf and receive funds to/from TD in USD. DBS ibanking app has a nifty function allowing you to exchange currencies within the app itself.. quite hassle free as you can choose when is a good time to convert SGD to USD and vice versa.
Hope this helps.