Anonymous
How to buy ETF in other currency e.g. USD, HKD using FSMOne SGD Cash Account?
A nubie question,
I am thinking to buy a couple of ETFs in USD, HKD, etc. But I only have SGD Cash Account from FSMOne.
Here's my questions:
1) How to go about doing it? Do I need to open a new Cash Account for every currency?
2) How is the FX currency rate?
3) If the ETFs comes with a dividend, will it be transferred back to my SGD Cash Account?
Apology on the shallow questions, just getting interested with investment and want to DCA couple of China & US ETFs every month.
Thank you.
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Chris
19 Mar 2021
Owner and Writer at Tortoisemoney.com
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Click on Foreign Currency Exchange under Cash Solutions on your FSMone homepage. Scroll to the bottom and select the currency and amount you wish to convert from and to. Then click Exchange and you're good to go!
The rates are spot rate which is crazy good
The dividends will be placed in the respective currency account which the dividends are issued, i.e. USD dividends are placed in your USD account in FSMone. This also means you'll have to convert it back when you want to withdraw as SGD
Hope this helps!