I recently tried FSM RSP, RM500 invested.

Currency conversion totaled USD111.01 (ETF including processing fee RM1 and MY stamp duty RM1) and refunded cash value USD0.21. Total USD111.22 for my RM500.

However, total investment (USD111.01) was shown as RM493.18. I'm wondering where the ~RM5 went.

Customer support said there are "currency exchange fees". Now, I don't mind that, but they aren't being very transparent about currency fees in the first place.

Anyone see the same thing?

To be fair, DIY IBKR via Wise will also see money lost to conversion and transfer fee.

The RM493.18 was immediately shown on the day bought and remains the same today.

And last I checked, the currency didn’t drop >1% between RSP and purchase date.

I figure basically their FX spread is about 1% :/

This post has been edited by jonnyl: Nov 29 2024, 06:17 PM