USD Fixed Deposits

reddevil0728 · Jan 23, 2023

serverxeon said:
Your concern is that usd might fall in the future? Is that correct?

So if I take that out of the equation, then there should be no show stopper right?

How do you plan to take out that equation?

serverxeon · Jan 23, 2023

reddevil0728 said:
How do you plan to take out that equation?

My bias is that usd is all time low now (sgd is too strong too). Usd will not get much cheaper than this. Hence FX wise, there's little downside to me.

Hence my believe is that usd will appreciate against sgd in 1 year (I'm looking at 1 year bond) and I should benefit from there.

reddevil0728 · Jan 23, 2023

serverxeon said:
My bias is that usd is all time low now (sgd is too strong too). Usd will not get much cheaper than this. Hence FX wise, there's little downside to me.

Hence my believe is that usd will appreciate against sgd in 1 year (I'm looking at 1 year bond) and I should benefit from there.

Ok so there’s an element of forex trading you are doing too.

well if you believe that, then you just need to be prepared for less than desirable outcome

Slowdown · Jan 23, 2023

I have 10K USD incoming from TT to my DBS acct. Usually I will transfer the USD to my TIGER trading account to buy US Stock. Given the market condition, I have no immediate use of the 10K usd. I am wondering if it is better to put it into DBS USD FD for (say 3 to 6 months). I have no plan to convert it to SGD as I know I will spend it if I do that.

I don't have IBKR account and don't intend to take that route. I also understand the transfering to other bank (for USD FD) will also incur transfer fee. I don't think TIGER has similar interest paying function like IBKR has. Look like DBS FD is my only route at this point in time. Am I missing anything. TIA.

reddevil0728 · Jan 23, 2023

Slowdown said:
I have 10K USD incoming from TT to my DBS acct. Usually I will transfer the USD to my TIGER trading account to buy US Stock. Given the market condition, I have no immediate use of the 10K usd. I am wondering if it is better to put it into DBS USD FD for (say 3 to 6 months). I have no plan to convert it to SGD as I know I will spend it if I do that.

I don't have IBKR account and don't intend to take that route. I also understand the transfering to other bank (for USD FD) will also incur transfer fee. I don't think TIGER has similar interest paying function like IBKR has. Look like DBS FD is my only route at this point in time. Am I missing anything. TIA.

seems ok.

if you use IBKR, then got other options.

greythorne · Jan 23, 2023

reddevil0728 said:
seems ok.

if you use IBKR, then got other options.

But foreign currency held in the local banks not SDIC protected? In IBKR still have SIPC?

reddevil0728 · Jan 23, 2023

greythorne said:
But foreign currency held in the local banks not SDIC protected? In IBKR still have SIPC?

don't think so but if that's your concern, what's your alternate option?

IBKR US only. if is SG I don't think so

greythorne · Jan 23, 2023

reddevil0728 said:
don't think so but if that's your concern, what's your alternate option?

IBKR US only. if is SG I don't think so

You mean if i hold USD in IBKR Pro not protected by SIPC?

reddevil0728 · Jan 23, 2023

greythorne said:
You mean if i hold USD in IBKR Pro not protected by SIPC?

depends on which entity your IBKR account belongs to

dantom04 · Feb 17, 2023

Was wondering anyone know the normal rate of USD fd in the past 10 or 20 years? Is it very bad like less than 1% huh? Or got 1 to 2.x % at least?

touchring1 · Feb 17, 2023

serverxeon said:
My bias is that usd is all time low now (sgd is too strong too). Usd will not get much cheaper than this. Hence FX wise, there's little downside to me.

Hence my believe is that usd will appreciate against sgd in 1 year (I'm looking at 1 year bond) and I should benefit from there.

You good man, got the bottom!

Seah.tt · Feb 17, 2023

Slowdown said:
I have 10K USD incoming from TT to my DBS acct. Usually I will transfer the USD to my TIGER trading account to buy US Stock. Given the market condition, I have no immediate use of the 10K usd. I am wondering if it is better to put it into DBS USD FD for (say 3 to 6 months). I have no plan to convert it to SGD as I know I will spend it if I do that.

I don't have IBKR account and don't intend to take that route. I also understand the transfering to other bank (for USD FD) will also incur transfer fee. I don't think TIGER has similar interest paying function like IBKR has. Look like DBS FD is my only route at this point in time. Am I missing anything. TIA.

Check out moomoo smart save or POEMS smart park... Can park there and maintain liquidity to buy stocks. FD rate abit higher but is kinda locked

serverxeon · Feb 17, 2023

touchring1 said:
You good man, got the bottom!

Oh wow. Didn't know it's 1.34 already. Profit 2% from FX already hahah.

touchring1 · Feb 17, 2023

serverxeon said:
Oh wow. Didn't know it's 1.34 already. Profit 2% from FX already hahah.

Did you put in FD? USD FD 4-5%.

Seen somewhere talking about stock market falling. If stock market falls, can go back to 1.40 or higher.

serverxeon · Feb 17, 2023

touchring1 said:
Did you put in FD? USD FD 4-5%.

Seen somewhere talking about stock market falling. If stock market falls, can go back to 1.40 or higher.

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....

dantom04 · Feb 18, 2023

serverxeon said:
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....

Buy Tbill need 350k usd??? So much?

serverxeon · Feb 18, 2023

dantom04 said:
Buy Tbill need 350k usd??? So much?

No need so much, if you buy direct from USA govt.
Ibkr one is secondary market. Hence the buyer seller all big boys.

reddevil0728 · Feb 18, 2023

serverxeon said:
No need so much, if you buy direct from USA govt.
Ibkr one is secondary market. Hence the buyer seller all big boys.

Huh?

secondary market also don’t need that much.

how u come to that figure

touchring1 · Feb 18, 2023

serverxeon said:
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....

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?

Seah.tt · Feb 18, 2023

touchring1 said:
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?

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

USD Fixed Deposits

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