Hello all, newbie here to ETFs and index funding. Hope someone can clarify some question I have.. At the moment I have interactive brokers account, and a SG account with SGD.

1) If I want to fund, does it matter which currency I pick to fund with? I don't see any explanation about why I would want to send in SGD or USD. Only thing I can think about is maybe my bank will give me unfavourable conversian if I do SGD -> USD? In that case is'nt it better I fund using SGD?

2) Is there any other charges to know about. Perhaps, does IB charge to receive or is it just the TT charges?

Appreciate the help, thank you in advance.

This post has been edited by dazzletws: Oct 20 2018, 12:37 PM

Hi, sorry let me clarify - I am definitely using IB and NOT my bank to buy ETFs. I am trying to transfer money from my SG bank to IB but I don't know which currency to pick.

Thanks for the swift response guys! Super appreciated! One more thing, in terms of contributions.. is it best to deposit monthly or in one lump sum? I read it was better in monthly (dollar cost averaging..?) but then I would get TT charges each time.

Yes, I am paying attention and I appreciate all the info. I would have wasted alot of money converting SGD -> USD at the bank if it werent for the info here. But I am also trying to learn about index funding in general for friends/family who have no SG account (only Msia bank account).

So in the case you only have a Msia bank account -

1) Do people deposit in lump sum in a year or monthly deposit? On one hand in lump sum you reduce TT costs..but wouldn't monthly deposits improve the growth?
2) In that case, no choice but to convert MYR->USD at bank level before wiring to IB, correct?

Thank you once again.

This post has been edited by dazzletws: Oct 21 2018, 01:33 PM