Advertisement
Anonymous
Which Base Currency should I use in Interactive Brokers?
Hi everyone. I am just creating my IBKR account and like to know which base currency should I be using? Here's my scenario:
.
(1) I'm buying only stocks/ETFs in US (80%) and UK (20%) monthly
(2) I'm using FAST transfer (SG$) to my IBKR's account monthly
.
I'm confused here because I don't know for the base currency, should I choose US$ due to point (1) above, or should I choose SG$ just because of point (2).
7
Discussion (7)
Learn how to style your text
Colin Lim
13 Apr 2020
Financial Services Consultant at Colin Lim
Reply
Save
Hey Anonymous, yes you should choose USD since the makeup of your portfolio is geared towards USD. I do use FAST transfer for the SGD into the IBKR account as well. The FX rates on IBKR are almost spot rates, hence it's as close to the ones you see on Google as you can get.
Just curious, what are the GBP-denominated stocks or ETFs that you are looking at? Which adds to the headache of you managing three currencies (USD, GBP, SGD) at once
Reply
Save
Good idea to invest predominantly into U.S. equity
use TransferWise for any SGD/USD conversion,...
Read 2 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Products
Interactive Brokers
4.0
39 Reviews
$0
MINIMUM FEE
Market Spread
TRADING FEES
Custodian
STOCK HOLDING TYPE
Related Posts
Advertisement
Choose USD...