Singapore Expats

Just wonder how do you deal with funding and withdrawal ?

Just wire over to them and provide the relevant documents. Withdrawal is much easier than funding - just need to create an instruction and ask them to wire $$ back to yr bank.

All these need to go thru intermediary bank, which will suck up a little service fee. (I'm wiring fr UOB...haven't tried other banks)

was considering opening an accoutn with them (their trading platform looks fine)
but I quite dont understand how they deal with multiple currencies.

I would like to invest in the US and in Europe so I would need 2 currencies on my account.

when funding the account, my SGD would be converted into USD
when I'll invest in EUR stocks I will be converted in EUr and when selling the stocks I'd beconverted back into USD?? (if USD is the base currency on my account)

is that right?
thanks!

which base currency you choose does not matter.
when you sell you EUR stocks you get EUR cash. It stays as EURO unless you want to convert into USD (you have to do it manually).

if you wire the money to a EUR bank, then you SGD will automatically be converted to EUR - again, you base currency does not matter.

luxiana wrote:was considering opening an accoutn with them (their trading platform looks fine)
but I quite dont understand how they deal with multiple currencies.

I would like to invest in the US and in Europe so I would need 2 currencies on my account.

when funding the account, my SGD would be converted into USD
when I'll invest in EUR stocks I will be converted in EUr and when selling the stocks I'd beconverted back into USD?? (if USD is the base currency on my account)

is that right?
thanks!

hi there!
thanks for the feedback.
ok, so I am in singapore, i wire I.Brokers money (SGD)
it will automatically be converted into USD.

I can by whatever stock I want in the US (in USD) and also in Europe (in Eur)
the day I sell my Eur Shares I get Eur on my I.Brokers account and I can decide whether I want to convert into USD (manually)

I think it might be more economical to have an accoutn with a broekr in europe + I.Brokers for the US (but then: it decreases your margin trading ability...)

btw: do you trade options on I.B? if so, what software do you use?
I have an excel add in that seems pretty good but nothing like Optionetics or OptionVue...

I Just open an a/c from Etrade, Heard someone complaint about the withdrawal, is anyone experience it B4? Can anyone chare the experience with me?