Adam

28 Jul 2022

∙

What's the most cost efficient way to transfer my USD cash into IBKR in Singapore?

Banks charge fee to deposit USD into multi currency accounts.

Other option is to convert to SGD (Mustafa Center has better rate than banks?) then back to USD in IBKR where I need to pay for spread.

I'm surprised there doesn't seem to be a free way to do this for average income person in Singapore.

Interactive Brokers

3

Discussion (3)

What are your thoughts?

Learn how to style your text

William Seow

05 Sep 2022

Open a DBS Multiplier account transfer SGD into moomoo/Tiger convert to USD transfer USD back to DBS multiplier account transfer USD from multiplier account into IBKR.

I have not used IBKR before, don't they have SGD:USD exchange? thought this is a staple for all brokerages alrdy.

Reply

Save

View 2 replies

Write your thoughts

Related Posts

If I am trading US stocks via tigers or FSMone, what’s the most cost efficient way if I decide to cash out my earnings? Also is there any transaction fees for transferring USD from tiger/FSMone to DBS?

What is the most cost-efficient way to transfer USD into Interactive Brokers? Are there charges for SCB Remit on USD to USD transfer?

What is the best way to deposit funds into Syfe Cash+ accounts given they convert the deposits into USD? Using Syfe's internal rate or use Revolut to convert to USD before transferring to Syfe?

I am currently outstation in Thailand, i will monthly transfer $2k cash from baht to sg dollars to Singapore to service my HDB loan?is there any ways i can save on the remittance fees or bank charges by using other options? Thanks.?

I am currently working in Singapore and would like to transfer money monthly (from SG bank to MY bank) to parents. What is the most cost effective way?

Related Products

Interactive Brokers

4.1

37 Reviews

$0

MINIMUM FEE

Market Spread

TRADING FEES

Custodian

STOCK HOLDING TYPE

Related Posts

If I am trading US stocks via tigers or FSMone, what’s the most cost efficient way if I decide to cash out my earnings? Also is there any transaction fees for transferring USD from tiger/FSMone to DBS?

What is the most cost-efficient way to transfer USD into Interactive Brokers? Are there charges for SCB Remit on USD to USD transfer?

What is the best way to deposit funds into Syfe Cash+ accounts given they convert the deposits into USD? Using Syfe's internal rate or use Revolut to convert to USD before transferring to Syfe?

I am currently outstation in Thailand, i will monthly transfer $2k cash from baht to sg dollars to Singapore to service my HDB loan?is there any ways i can save on the remittance fees or bank charges by using other options? Thanks.?

I am currently working in Singapore and would like to transfer money monthly (from SG bank to MY bank) to parents. What is the most cost effective way?