I have been moving my money since 1mdb days. Since SGD was 3.0. Just keep moving. Don't look back. What is expensive now, is cheap in the future.

This post has been edited by Ramjade: Feb 21 2024, 01:02 PM

move to sgd and place where? fd? reits?

Yep. Later USD 1=RM 8, SGD 1=RM 6. Sure cry why didn't change when below USD1=RM 4.80.

US stocks, sg banks stock, European stocks, UK stocks. I am no longer a REIT Investor.

This post has been edited by Ramjade: Feb 21 2024, 01:52 PM

Place DBS bank haha, ATM GENERATOR

Can also consider the local bank's foreign currency accounts. you can place them in the FD there.

i saw you recommeding tiger broker elsewhere in this forum. This one?

https://www.tigerbrokers.com.sg/

I already have IBKR for US stocks, thinking to have an SG based broker as well for SG bank stock. Any advice?


Any disadvatages storing in MCA here? Read RHB has the best one. What about spread and other charges? Whats the pros/cons compare to storing in actual SG bank? Personally, i think it's better to spread it to SG rather than put in MCA here...If Malaysia bankrup, at least your money still safe in SG.

If you got Ibkr, no need tiger. Tiger for real time data (that's what I use) but you can get refund from IBKR for real time data if you spend like USD10 per month trades if I am not wrong.

So, does it means i need to open another SGD account or something in order to buy SG stocks? Then i can use my Singapore Bank (CIMB) to pump money into IBKR? Because AFAIK, the money can only withdrawn back to my Malaysia Maybank account (the account i register when opening). But i would rather not and prefers it to goes back to my SG bank if need to.

I see no harm to have another broker. I like to have many eggs in many baskets.

Tiger uses IBKR as back end and as custodian if I am not mistaken. Of course you can fund I KR using sg bank account. That is how I have always funded my account. It's cheaper using SGD to fund Vs fund directly from Malaysia

Just deposit SGD into IBKR using FAST transfer. Of course have to initiate incoming SGD inside IBKR to let them know money coming in from your sg bank acocunt. That way they will create a unique sg bank account for you to deposit your SGD.

Alrite thanks, i will check with IBKR.

this is IBKR right? you can always add a new withdrawal method (SGD) anytime. I created IBKR before I even created sg bank acct (bcos a certain content creator says "no big diff" if i go the direct USD<->MYR route rather than USD<->SGD<->MYR)

Alrite thanks, will check with them.

This post has been edited by CommodoreAmiga: Feb 21 2024, 03:52 PM

People here already did the calcs. It matters if amount big enough.

Which one is better? My route was direct MYR=>USD wor.

which bank offer that? i knew hlb but limited to 3 currency

If amount large enough MYR-> SGD->USD. Make sure to use moneymstch to move RM and interactive broker to convert SGD. Don't use banks to convert SGD to USD.

Not sure if using rhb multicurrency directly into IBKR.

This post has been edited by Ramjade: Feb 21 2024, 04:13 PM

Ramjade won't be cheap as you can't ACH cheaply into IBKR from RHB MCA (credits to dwRK for this info)

This post has been edited by Medufsaid: Feb 21 2024, 04:28 PM

RHB MCA spread for USD/MYR is 0.7%. FD rate is better than the others. managed to catch 5.5% for 6 months not long ago.Also covered by PIDM up to RM250k. you can spread it across various banks. HSBC, Maybank all have the same, though the FD rates is not as good as RHB.
HSBC can convert 2 currencies directly. RHB always need to convert back to ringgit.

I feel its better to keep it within the Malaysian context since if anything happens to me, at least my family don't need to go treasure hunting abroad.

This post has been edited by BenChiew: Feb 21 2024, 04:46 PM

Check RHB, HSBC, Maybank.First two have a spread of various currencies.