How to convert SGD to USD in ibkr account ?

in the order entry, type "USD.SGD" (without the quotation marks of course).
select buy usd
put your quantity in usd (I prefer this, but you can choose the amount in sgd also... just becareful with the amount)
select market order
in advanced, choose FXCONV
click save


and when you are 100% sure, click submit in the live order screen.

Oki thank

Hi, do you convert for the sake of buying shares/bonds etc. in IBKR?

If so you may just make use of IBKR's auto FX conversion feature and save 2 USD for each manual conversion (ala Medufsad's post above).

Big news, ladies and gentlemen! Big news.

I don't understand why but I managed to transfer 4721.28 USD from IBKR to my DBS SG USD FD account without paying a single cent of correspondence bank fee to JP Morgan.

Money moved out on 3rd July 2024, received at DBS SG bank just after noon today. The value date at DBS side is 8th July though IBKR side says it's 5th of July.





----------------------------------------

My last wire transfer to DBS SG USD FD account was in December 2022, back then JP Morgan charged a 10 USD correspondent bank fee...

This time no more!

This post has been edited by TOS: Jul 8 2024, 12:25 PM

You transferred to DBS USD fixed deposit account? Have you tried DBS multi currency My Account?

This post has been edited by harmonics3: Jul 8 2024, 05:13 PM

Yo bro. Long time no see.

Yes I transferred to DBS Fixed Deposit account. I don't transfer to DBS MCA My account. That will surely kena charged 10 SGD by DBS.

https://www.dbs.com.sg/personal/support/ban...nd-charges.html

They call it "Handling Commission Fee" which is waived for Treasures Customers (and I am not one of their Treasures Customers).

Anyway, I intend to place a USD FD with the proceeds from IBKR, so I am glad that the back office at DBS SG automatically open a 1-month USD FD for my entrance fund. The auto 1-month FD tenure selection has not changed from last deposit in Dec 2022, so this is expected.

The only thing you need to change is the maturity instructions (the default instruction is auto-renew principal + interests and you can change it to withdraw principal + interests or renew principal + withdraw interests).

This post has been edited by TOS: Jul 8 2024, 08:03 PM

Finished 700 pages in 48 hours!



This book documents the rise of index funds and ETFs, detailing how Vanguard and Blackrock iShares came into being.

https://buzzgenius2.medium.com/summary-of-t...ed-70c8e0fb4644

https://blogs.lse.ac.uk/lsereviewofbooks/20...n-wigglesworth/

---------------------------

Old classic



I found the famous July 2nd, 2015 article by WSJ which stunned the whole Malaysia back then:

https://www.wsj.com/articles/malaysian-inve...share_permalink

And some interesting diagrams:

https://www.wsj.com/graphics/1mdb-money-flow/

--------------------------------------

Hint: You can find both books online (for free... )

This post has been edited by TOS: Jul 8 2024, 08:33 PM

Thanks for sharing so much material, do you read on mobile/tablet/laptop?

I borrowed the hardcopies from the Seberang Jaya library in Penang.

Still have 1000 pages more to go

trillions - got the softcopy? hehe

Free ebooks can be found on shadow libraries like Libgen, Anna's Archive, and zlibrary.

Research papers can be found on Sci-Hub.

This should be open secret for most people by now...

FT Private credit

A borrower’s struggles highlight risk lurking in a surging corner of finance
Investors face a wide-ranging estimate of losses on loans to Pluralsight after demand for its training videos fell

by Eric Platt and Amelia Pollard in New York (AN HOUR AGO)

https://www.ft.com/content/b10dbb08-c745-40...fc-9b4024f1fd10

https://archive.ph/9WI7D (no paywall)

-----------------------

FT UBS Group AG

How UBS fell out with Switzerland’s establishment after rescuing Credit Suisse
Bank’s leaders and financial officials clashed over issues from capital requirements to Sergio Ermotti’s pay

by Owen Walker, European Banking Correspondent (AN HOUR AGO)

https://www.ft.com/content/a2ff49db-6c3f-4a...89-386c7159fcc9

https://archive.ph/6nxdz (no paywall)

This post has been edited by TOS: Jul 10 2024, 01:20 PM

Business Korea: Samsung Electronics Faces Yield Challenges with Exynos 2500, Considers MediaTek for Galaxy S25

https://www.businesskorea.co.kr/news/articl...ml?idxno=220859

when using wise transfer to ibkr, it says

there is an error, please try again later.

has anyone experienced this? i have done 6 digit of transfers past week. could this be the reason why it has problem now? both sender and recipient is my name

thanks.

gashout from wise app, request for wise to call you (it'll come from a sg phone number)

ok, ill do that, thanks.

done. no problem from wise, probably ibkr has some hiccups. will try next week again.

FT Opinion | Lex

Private assets create an information void where mischief can thrive
Pluralsight lender group marked debts at seemingly implausible highs

https://www.ft.com/content/070df4bb-b7b3-4b...c0-914111fd397a

https://archive.ph/XkYY5

The said paper can be found on SSRN preprint server here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4879742

This post has been edited by TOS: Jul 12 2024, 05:53 PM

just curious, you are using ACH or direct transfer (login to IBKR and directly convert)