[pustefix]

Thanks for boe7874 & Asphodeli replies, POEMS does have custody, dividend and other 'dumb' fees. It seems that more calculations are needed :-)

[limster]

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).

[roz_sid]

limster wrote:

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).

hi limster. im using scb too. will be moving on to usd market soon. i will like to know the best way to bypass the horrible spread using scb.
1. FCY$aver
2 USD High Account

which acct better to open?

any idea wats the best rate to convert sgd to usd? then ownself deposit into fcy acct in scb, trf to usd settlement n trade. possible?

[Asphodeli]

roz_sid wrote:

hi limster. im using scb too. will be moving on to usd market soon. i will like to know the best way to bypass the horrible spread using scb.
1. FCY$aver
2 USD High Account

which acct better to open?

any idea wats the best rate to convert sgd to usd? then ownself deposit into fcy acct in scb, trf to usd settlement n trade. possible?

No way around it, and no point even opening a USD account as the rates should be the same, unless you intend to withdraw USD in cash, or earn the interest rate (if any)

[kannis_ng]

kheng86 wrote:

dbs vickers cash upfront cheaper right? 0.18%

Dbs upfornt best

U kum gong

[limster]

roz_sid wrote:

hi limster. im using scb too. will be moving on to usd market soon. i will like to know the best way to bypass the horrible spread using scb.
1. FCY$aver
2 USD High Account

which acct better to open?

any idea wats the best rate to convert sgd to usd? then ownself deposit into fcy acct in scb, trf to usd settlement n trade. possible?

It may not be possible to avoid the forex charges for small amounts. And if you had a big amount, you would be using IBKR.

This has been discussed earlier in this thread and i don't have the exact post, but the SCB accounts don't accept cash (or there is a charge if you deposit cash). Which means you have to do TT or fund transfer and there are some sort of fund transfer charges involved.

[roz_sid]

Asphodeli wrote:

No way around it, and no point even opening a USD account as the rates should be the same, unless you intend to withdraw USD in cash, or earn the interest rate (if any)

limster wrote:

It may not be possible to avoid the forex charges for small amounts. And if you had a big amount, you would be using IBKR.

This has been discussed earlier in this thread and i don't have the exact post, but the SCB accounts don't accept cash (or there is a charge if you deposit cash). Which means you have to do TT or fund transfer and there are some sort of fund transfer charges involved.

thks both for ur response.

[ValueInvestor]

roz_sid wrote:

hi limster. im using scb too. will be moving on to usd market soon. i will like to know the best way to bypass the horrible spread using scb.
1. FCY$aver
2 USD High Account

which acct better to open?

any idea wats the best rate to convert sgd to usd? then ownself deposit into fcy acct in scb, trf to usd settlement n trade. possible?

u transfer USD into SCB got fees too..... hard to avoid the extra cost if u wanna trade US in small amounts

[ValueInvestor]

limster wrote:

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

[roz_sid]

ValueInvestor wrote:

u transfer USD into SCB got fees too..... hard to avoid the extra cost if u wanna trade US in small amounts

thx for ur advice on this. if more than 100k than i move to IB.
anyways any advice on this?

decide to keep it simple & use 3 funds only.

1 VDEM- emerging - 10%
2 VUSD- sp500 - 60%
3 VWRD-world - 30%

Anything else sld i look out for. all lse using usd.

[ValueInvestor]

Asphodeli wrote:

Rate at SCB as of now is 2.207063 SGD to GBP.

Eh, well I'm not too bothered by it, given that I will save a lot more on brokerage, corporate action fees, custodian and inactivity fees as compared to using other foreign brokerages or even local brokerages (yucks).

actually can discuss with your broker one... if u really trade foreign shares regularly, they earn your commission already happy, can waive all the other fees for u

[ValueInvestor]

roz_sid wrote:

thx for ur advice on this. if more than 100k than i move to IB.
anyways any advice on this?

decide to keep it simple & use 3 funds only.

1 VDEM- emerging - 10%
2 VUSD- sp500 - 60%
3 VWRD-world - 30%

Anything else sld i look out for. all lse using usd.

do u have a USD account already? if not can open one first lor

then when u have 100k USD or higher go open account with IB

meanwhile, just use SCB first and slowly build up your portfolio

good luck

[limster]

ValueInvestor wrote:

do u have a USD account already? if not can open one first lor

then when u have 100k USD or higher go open account with IB

meanwhile, just use SCB first and slowly build up your portfolio

good luck

No need to wait for 100k USD. As long as you are investing more than US$1k per month can switch to IBKR.

[pustefix]

roz_sid wrote:

decide to keep it simple & use 3 funds only.

1 VDEM- emerging - 10%
2 VUSD- sp500 - 60%
3 VWRD-world - 30%

Just a small comment, VWRD is already 50+% in US, so you might not need VUSD or else your exposure to US is very big. Maybe just VDEM and VWRD?

[94855998]

Is it normal to wait 20-30mins after u submit ur "BUY"?

Do it really take 20mins to change from Acknowledge to Filled?

Or it is that SCB are lag in submitting ur order...?