Hi, I've been calculating and I'm wondering if I missed anything.

The word around is: MYR > SGD > SGD (IBKR)
Then subsequently within ibkr : SGD (IBKR) > USD (IBKR)

However, by using MYR 10k and wise for reference, I'm getting otherwise.

MYR 10k = USD 2119.81
MYR 10k = SGD 2840.69

Now,i kind of sure there's a USD 2 fee converting within ibkr, but let's ignore that for now for clarification. Also, using Google SGD/USD rates for reference.

So, within ibkr:
SGD 2840.69 = USD 2118.08

Which is still slightly lesser than directly using wise for MYR/USD (ibkr).

What did I miss?

Noted, thank you. Will try tomorrow.

Oh wow, you guys were absolutely right. From checking during the market hours, to MYR>SGD>USD and Moneymatch.

I swear I've previously compared Moneymatch and I've gotten worse rates than wise, so I didn't think much about it after. Also, I'm guessing my mistake of checking after market hours was another contributing factor.

Okay, I guess I need to recheck what I thought I know again. Thanks for sharing.

This post has been edited by shawnme: Dec 13 2023, 03:43 PM

Another thought..I remember I've read something like that but I can't be sure as I'm not able to locate the source..

Say I have enough SGD in ibkr, cash account, then place a buy order in USD.. Does ibkr have the function of automatically converting the necessary amount from my SGD to USD for that order?