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Old 07-03-2015, 12:41 AM   #3607
Perisher
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Is there a reason why u r using SCB instead of IB?
I went to check the usdsgd spot rate at your time of posting and it is 1USD at 1.3645 SGD. This means that u wil get 732USD from 1k SGD if u wan to buy US shares and 1,364SGD if u cash out ur 1k USD worth of US shares.

The cost savings are more than the USD10 inactivity fee IB charges per month, and will be even greater for larger transaction amounts.

Is there sth that i have missed out as to why u use SCB?
To put it simply, you are right, but I don't exchange my $$ to USD every month. In fact, I exchanged a large amount just a few months ago, excluding the even bigger amount I exchanged when I first started years ago.
You can call me lazy, but I wanna read the IB thread first which is about a hundred pages?

I'm still building my USD to $100k. It's getting there. I will switch a few years down or when I'm energetic enough to understand how IB works?
Please tell me it's damn simple to use? From what I understand, the transferring of funds around is a tad complicated? Like I need a citibank account, need to wire my money from citi to IB? How's the charges?

Also, I would need to manage 2 account since my sg counters are in scb.
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