Asked on 02 Aug 2020
I usually will deposit SGD into FSMOne Cash Account. There is a page in their app that say foreign exchange currency or something and this is the place you exchange your SGD into different currency.
The spread for FSMOne is 0.25% off the spot rate of USD.
Take note of the pricing structure for RSP and Dividend handling fee when you invest in US-listed ETFs as shown in this page:
I usually bank transfer money into the cash solutions in FSM and use the foreign currency exchange to convert SGD to other currencies (US/ HKD etc.). The conversion rate is in real-time but take note the exchange rate will slighly differs from the market rate:
Recently i chance upon the multi-currency account on FSM which state we are able to use the cash in this account to pay for all investment products, without going through foreign exchange to pay for the corrosponding ETFs/equities. However, I have not tried it yet at the moment: