QUOTE(hyperzz @ Mar 26 2019, 10:55 PM)
Just to add more explanation.
elea88, I assume you need HKD for HKEX. IB does not have the pair SGD.HKD. So you need to convert twice, SGD -> USD -> HKD. You can follow the suggestion by rjb123 for SGD -> USD (meaning to BUY the pair USD.SGD).
Then you need to SELL the pair USD.HKD to get your HKD.
Some basic concept about forex trading. For a currency pair, i.e USD.SGD, the first currency (USD) is the base currency, the second currency (SGD) is the quote currency.
Assumed 1 USD = 1.3514 SGD.
When you :
1) buy 10,000 USD.SGD, you will get 10,000 USD. For this BUY, 13,514 SGD will be deducted from your IB account. The commission charged is 2 USD. Buying a currency pair will give you the base/first currency.
2) sell 10,000 USD.SGD, you will get 13,514 SGD. For this SELL, 10,000 USD will be deducted from your IB account. The commission charged is 2 USD. Selling a currency pair will give you the quote/second currency.
IB has a youtube channel with tutorials, i.e. Forex with WebTrader
Hope this helps.
the commission 2 USD is for any amount of forex exchange?elea88, I assume you need HKD for HKEX. IB does not have the pair SGD.HKD. So you need to convert twice, SGD -> USD -> HKD. You can follow the suggestion by rjb123 for SGD -> USD (meaning to BUY the pair USD.SGD).
Then you need to SELL the pair USD.HKD to get your HKD.
Some basic concept about forex trading. For a currency pair, i.e USD.SGD, the first currency (USD) is the base currency, the second currency (SGD) is the quote currency.
Assumed 1 USD = 1.3514 SGD.
When you :
1) buy 10,000 USD.SGD, you will get 10,000 USD. For this BUY, 13,514 SGD will be deducted from your IB account. The commission charged is 2 USD. Buying a currency pair will give you the base/first currency.
2) sell 10,000 USD.SGD, you will get 13,514 SGD. For this SELL, 10,000 USD will be deducted from your IB account. The commission charged is 2 USD. Selling a currency pair will give you the quote/second currency.
IB has a youtube channel with tutorials, i.e. Forex with WebTrader
Hope this helps.
also.. you guys would choose TIER pricing or FIXED pricing?
Fixed rate plan typically charges a fixed rate per contract or share which covers all commissions and exchange fees.
Tiered price plan charges the fees based on the monthly trading volume. Plus additionally exchange, regulatory and clearing fees. The more you trade, the lower commission you pay.
Mar 27 2019, 05:20 PM

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