Avoid at all cost. For now the best rate is duitnow and moneymatch (office hour time)

Cimb sg -> CIMB my no problem.
I think Maybank, ocbc, uob functioning. I got no duitnow so canot check.

Duitnow is to sg banks. Saw some people posted here better rates than moneymatch. Downside is RM3k.

Tiger uses ibkr in the background. Tiger have access to USD mmf which is giving 5%p.a. You don't get access to USD mmf with ibkr.

For me, no brainer to go with ibkr.

I use it. For their free live data. Lol.

Wait for their tax filling season first la.

Only buy US etf if you want to do options. If you don't want options stick with Ireland based etf to save on the dividend tax.

As long as your cash is positive, no interest will be charged by IBKR.

Swiss is 35%😁

They are smart enough. Form my experience. Canada, Europe, US all with hold correctly.

All baba will always be 10%. It doesn't matter where you are listed. It's where your HQ is. But baba uses Cayman island. But my guess is it still 10%

Last I saw was swiss tax is 35%. I don't think we have treaty with swiss.

Ask TOS. He invest in swiss stocks. I don't bother with Swiss stocks

You want to save on cost or you want convenience? It's not too much work. It's just few clicks. Not asking you to go queue at banks and wait your turn. All can be done while you are in the train or getting stuck in traffic. Is whether you want to give yourself excuse not to do something. I have been manually transferring money into IBKR via sg banks for years.

I give you an example. Last time people give me all sort of excuses cannot open sg bank account. I decided to safeguard my future purchasing power, so I took a train down to Singapore, spend one whole day there just to open account and come back. It's all about giving excuses or taking action. Excuses get you no where.

You can transfer. You need to contact IBKR to initiate the transfer. Fsm function for me is only buy PRS or invest my EPF money. lol.

My FSM SG contains zero money and not use at all.

This post has been edited by Ramjade: May 11 2024, 05:18 PM

Not sure how is their exchange rate. I know IBKR give the best exchange rate.

Just use the old school way.
Malaysian banks -> moneymatch or Sunway money -> SG banks -> IBKR -> convert currency inside IBKR at real time market rate.

It's already cheap. Local brokerage easily EUR25-50.

Cheaper to change SGD to USD Vs using wise.

IBKR give you one free withdrawal a month. 2nd withdrawal cost money.

I don't think it USD 1 for subsequent withdrawal. USD1 is for ACH. Wise is lousy bank to ACH as BNM only mandate RM20k limit only.
https://www.interactivebrokers.com/en/pricing/other-fees.php

Yup that's right. Community bank that partner with wise.

You can buy stuff like VMFXX. It's money market funds. I just found out about it.

This post has been edited by Ramjade: Jul 19 2024, 08:25 PM

Then use CSOP USD money market fund. Need access tiger or moomo sg. Not moomoo Malaysia.

Money match -> sg banks -> deposit SGD into IBKR -> concert SGD into USD using IBKR.

Like how all dividends are paid in IBKR. Paid your account inside IBKR. IBKR can hold multiple currency under one account.