Anonymous

16 Jul 2020

∙

General Investing

Saxo commission fees are low but conversion costs are high. This caused total costs to be at least 1.6% to buy US stocks. Anyone encounter that or am I doing something wrong?

Saxo has the lowest commission fees but it has very high conversion costs (for example buying US stocks) that makes total transaction costs approx 1.6%. However, I realised that no one talks about the conversion fees. Am I doing something wrong?

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Frankie Rappaport

25 Feb 2020

Even within the same country use (currently cheapest) Transferwise to convert currencies, safe and fast.

Don't let your bank or broker do the currency conversion.

You send Transferwise your home currency, they send your conversion currency (f.ex. USD) to your brokerage USD currency account.

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Related Products

Saxo Markets

4.5

956 Reviews

US$1

MINIMUM FEE

0.03% to 0.08%

TRADING FEES

Custodian

STOCK HOLDING TYPE

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Hi, I have a few US stocks through Vickers and am a buy and hold casual investor. Is it worth while transferring my portfolio to Saxo to avoid custodian fees? Thanks, any advice?