IBKR ccy conversion

[Laguna123]

Hi those who use IBKR to trade US market, do you convert from SGD to USD manually or let the system convert using spot rate for you when you trade? If wanna trade above 20k SGD which is better option? Thanks.

 

[reddevil0728]

Hi those who use IBKR to trade US market, do you convert from SGD to USD manually or let the system convert using spot rate for you when you trade? If wanna trade above 20k SGD which is better option? Thanks.

recurring or one-off?

 

[Laguna123]

recurring or one-off?

Think I will do a one off this time round.

 

[reddevil0728]

Think I will do a one off this time round.

you can go compute which one more worthwhile...

• For currency trades executed under the auto currency conversion service, IB will typically add or subtract (at its discretion) 0.03% to the exchange rate that would otherwise apply. Please note that IB does not separately charge a commission on these auto-conversion trades.

vs...

Monthly Trade Value (USD)2​	Tiered​
≤ 1,000,000,000​	0.20 basis point 3 * Trade Value 4​
1,000,000,000.01 - 2,000,000,000​	0.15 basis point 3 * Trade Value 4​
2,000,000,000.01 - 5,000,000,000​	0.10 basis point 3 * Trade Value 4​
> 5,000,000,000​	0.08 basis point 3 * Trade Value 4​
Minimum per order 2​	Tier I - USD 2.00 Tier II - USD 1.50 Tier III - USD 1.25 Tier IV - USD 1.00​

so 2 usd... (before gst)...

 

[Laguna123]

you can go compute which one more worthwhile...

• For currency trades executed under the auto currency conversion service, IB will typically add or subtract (at its discretion) 0.03% to the exchange rate that would otherwise apply. Please note that IB does not separately charge a commission on these auto-conversion trades.

vs...

Monthly Trade Value (USD)2​	Tiered​
≤ 1,000,000,000​	0.20 basis point 3 * Trade Value 4​
1,000,000,000.01 - 2,000,000,000​	0.15 basis point 3 * Trade Value 4​
2,000,000,000.01 - 5,000,000,000​	0.10 basis point 3 * Trade Value 4​
> 5,000,000,000​	0.08 basis point 3 * Trade Value 4​
Minimum per order 2​	Tier I - USD 2.00 Tier II - USD 1.50 Tier III - USD 1.25 Tier IV - USD 1.00​

so 2 usd... (before gst)...

Ok thank you