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Anonymous
What is the most cost efficient way to invest in US market? (Convert SGD to USD)?
I've recently opened up DBS Vickers and Saxo market account, looking to invest in US market and trying to minimize currency losses.
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Interactive brokers due to their low cost brokerage and in house exchange rates. Other overseas online brokers has similar low fees such as AMD trade and CMC, dbs vickers is far behind them in fees and exchange rate fees
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Elijah Lee
09 Dec 2019
Senior Financial Services Manager at Phillip Securities (Jurong East)
Out of curiosity, I look at the FX spreads on IB. Have to concede defeat. On the other hand, local bank FX spreads are quite horrendous.
I'm constrained though. Have to use POEMS.
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Interactive Brokers for sure!
Its spot rate.
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I use Interactive Brokers... $1 comms only...! And Google exchange rate......
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