USD Fixed Deposits

[churnmaster]

I intend to...
I actually trf the money (low 5 digits) to Ibkr, thinking I can buy t bill from ibrk. So I converted to usd already. Turns our their minimum quantity is like 350k$.... What a waste of effort.
So im trying to withdraw to dbs usd fd, but ibkr is blocking me now Becos it's a new account. Deposit and withdraw without transaction, they think it's suspicious....

You are wrong. You are probably guessing based on the bid / ask quantities in the quotes.

 

[serverxeon]

Just keep in USD FD lo. Cheapest way to convert to SGD is transfer to IBKR, convert there, and transfer back DBS in SGD. The turn around takes up to 1mth I think.

Take note IBKR only one free withdrawal per mth

Yep. Ibkr exchange is best.
But if you open a brand new account just to do this.... I think they'll probe a bit whether you are using them to launder money hahaha

 

[reddevil0728]

dbs usd offers 1 month fd, auto renewal. 4.04% pa for below 100k.

I'm just using multiplier account to change from sgd to usd, lose on conversion. Do you know if there is a cheaper method?

you are converting SGD into USD just to get higher interest?

and you hope to convert back to SGD in future and make a profit?

Just keep in USD FD lo. Cheapest way to convert to SGD is transfer to IBKR, convert there, and transfer back DBS in SGD. The turn around takes up to 1mth I think.

Take note IBKR only one free withdrawal per mth

might as well leave it in IBKR and buy T-bill

 

[greythorne]

Just keep in USD FD lo. Cheapest way to convert to SGD is transfer to IBKR, convert there, and transfer back DBS in SGD. The turn around takes up to 1mth I think.

Take note IBKR only one free withdrawal per mth

What you mean by “The turn around takes up to 1mnth”?

 

[serverxeon]

You are wrong. You are probably guessing based on the bid / ask quantities in the quotes.

Yes. I might be wrong.
I did indeed estimate using bid ask volumes.

However I can't tell what's the minimum to transact. Only that it keep telling me error, pls up my volume. My volume too small, they will not send my order to NBBO.

 

[reddevil0728]

Yes. I might be wrong.
I did indeed estimate using bid ask volumes.

However I can't tell what's the minimum to transact. Only that it keep telling me error, pls up my volume. My volume too small, they will not send my order to NBBO.

what's the quantity you indicate?

you know each quantity is $1,000 right?

So if you indicate 20 it will be $20,000.

and definitely no where near 350k. that's mad.

and surprise you really go change 350k thinking that need that much to invest.

 

[Seah.tt]

What you mean by “The turn around takes up to 1mnth”?

Funds deposited have a holding period before allowed to withdraw

 

[reddevil0728]

Funds deposited have a holding period before allowed to withdraw

1 month? i think about a week+

 

[dgeralds]

Hi All. I recently excited 100% from US stock market. Funds in USD (about SGD 236K) in sitting in IBKR. Im waiting for the next opportunity to go in......but not sure when that opening will come about. Should i convert back to SGD and continue keeping in USD while waiting? Im worried USD exchange rate drop..

 

[serverxeon]

what's the quantity you indicate?

you know each quantity is $1,000 right?

So if you indicate 20 it will be $20,000.

and definitely no where near 350k. that's mad.

and surprise you really go change 350k thinking that need that much to invest.

Yes I'm aware 1 quantity is 1k.
I indicated correctly the quantity (value /1000)

I did not change 350k. That's why I decided to pull out my funds from IBKR.

If you refer to this guy, he couldn't buy with 50k bid too.

 

[reddevil0728]

Hi All. I recently excited 100% from US stock market. Funds in USD (about SGD 236K) in sitting in IBKR. Im waiting for the next opportunity to go in......but not sure when that opening will come about. Should i convert back to SGD and continue keeping in USD while waiting? Im worried USD exchange rate drop..

if you convert back to SGD are you already losing on exchange rate?

and if lets say there is going to be a capitulation, chances are USD may shoot up again, so you change it back to USD at a higher rate?

You need to have a plan for investment. not so simple and straight forward one.

Yes I'm aware 1 quantity is 1k.
I indicated correctly the quantity (value /1000)

I did not change 350k. That's why I decided to pull out my funds from IBKR.

If you refer to this guy, he couldn't buy with 50k bid too.

oh apologies. misunderstood about the 350k.

Did you enable the permission to purchase?

 

[serverxeon]

if you convert back to SGD are you already losing on exchange rate?

and if lets say there is going to be a capitulation, chances are USD may shoot up again, so you change it back to USD at a higher rate?

You need to have a plan for investment. not so simple and straight forward one.

oh apologies. misunderstood about the 350k.

Did you enable the permission to purchase?

Yes I did.
No problem sending the transaction, except Ibkr gave error to "make my bid more aggressive"

 

[reddevil0728]

Yes I did.
No problem sending the transaction, except Ibkr gave error to "make my bid more aggressive"

you did limit order?

Have you tried market order?

you test with Paper account?

 

[serverxeon]

you did limit order?

Have you tried market order?

you test with Paper account?

Yes limit order. Did not use market order
I also set above ask price.
No.I only tried on live account.

 

[reddevil0728]

Yes limit order. Did not use market order
I also set above ask price.
No.I only tried on live account.

very curious what's the issue with your account

 

[serverxeon]

very curious what's the issue with your account

I also want to know. But I can't be bothered to go waste time on this any further haha

 

[gobin74]

Hi for usd fixed deposits which fi is giving the best rate pl currently in sg pl

Thnx

 

[reddevil0728]

Hi for usd fixed deposits which fi is giving the best rate pl currently in sg pl

Thnx

Have you went to check the various websites for a start?

 

[gobin74]

Note that usd fd for 12 months. Is still. available at > 4%....ln case you. Still. Have usd maturing

Thanks

 

[shin89]

Was doing USD FD at DBS before 50bps rate cut, 2months was 4.75% pa, i think now 2 months is 4.6%~