Given that Hong Kong and many other countries around the world were plagued by political unrest and protests last year, do you go the extra mile to park your money in overseas accounts/platforms? if so, how do you do that? is getting a multicurrency account one viable way?
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Kelly Trinh
01 Jan 2020
Backoffice technical at financial services firm
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Jonathan Chia Guangrong
01 Jan 2020
SOC at Local FI
Well the bulk of my portfolio is focused in the US market where I mainly write put options on the Td Ameritrade platform. Funds are converted into USD via dbs mca and wired over to the account. Yet to explore other mca platforms like transfer wise fully but there seems to be a lot more potential in better fx rates.
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There is exposure to overseas assets and using providers in other juridictions.
Former is common and generally accepted as increasing diversification - you can get from providers here - eg POEMS has a quite extensive choice of markets.
The latter is a unusual. Singapore has a very safe / predictable legal system - it is hard to see providers in other countries offering any meaningful advantage.