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Old 09-09-2015, 09:56 PM   #4509
ValueInvestor
Order 66'd
 
Join Date: Jul 2015
Posts: 5,252
If you invest US$1k a month, you can start to consider IBKR instead of SCB as IBKR is slightly cheaper. Less than that, SCB is ok.

This is the current GBP spread in SCB: 2.207063 / 2.156582 (I just logged in to check).

You have to pay $22,070.63 to buy GBP$10k

Then when you convert the GBP back to SGD, you get $21,565.82.

So both ways, total loss is $504.81. So roughly, one way conversion, the loss is $252.40, which is actually not that bad though IBKR is slightly cheaper (Note: IBKR you have to convert SGD to US$, US$ to GBP).

wah the spread seems very big... at over 2%, but no choice if u tend to trade in smaller amounts

I using iocbc, spread usually 0.3 to 0.6% only... their iocbc platform will show a default fx rate
but if u trade in bigger amount, say 20k-50k or higher~ can call into your broker to book a better rate if possible

Last edited by ValueInvestor; 09-09-2015 at 09:59 PM..
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