Anonymous
Withdrawal of USD from Tiger Brokers to bank. Which is the best way?
Is it better to convert within the tiger app from USD to SGD and withdraw to the bank?
Or, is it better to withdraw as USD into a multi currency account like DBS and let it convert there?
Anyone familiar with this and which is the better way to minimize any fees or take advantage of better currency conversion rates?
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If I addmy DBS multiple curreny account in Tiger Broker, it asked for SWift code and bank code, Does it means it is using TT instead of direct transfer and will incurr $25 TT fee?
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thefrugalstudent
02 Sep 2021
Founder at thefrugalstudent.com
Hi Anon,
It's just as Nicholas said. Tiger's FX spread is about 0.3%, while DBS' is about 0.7% -...
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I have USD in Tiger Brokers and it's not a whole number eg. USD100.93. I don't have a MCA where the funds can be withdrawn in USD. To withdraw, I need to convert it to SGD first. Tiger brokers only allows currency exchange in whole integer amounts ie. USD100. Does that basically mean USD0.93 is like perpetually stuck and held hostage in my Tiger Brokers account? Is this even legal for them to do this? It's a small amount which probably I would just end up considering as the exchange fee....but can u imagine how many people will have this residual amounts stuck in there??