I updated roughly 1 month ago on my blog that through Standard Chartered Banking LiveFX, the exchange spread we get for currency conversion seems to have improved.
The spread that we used to need to pay was about 0.80% difference between what they quote versus the spot foreign exchange rates (FX). with LiveFX, this sort of reduced to about 0.40%.
I was helping a reader verify some figures on my Standard Chartered Banking LiveFX and noticed that the rates seem lower than 0.40% now.
I compared the rates versus the quotes from 2 other platforms.
They have come down closer to 0.30%.
This is good news for those who are investing/trading overseas stocks.
At this rate, it is possibly cheaper than some of the traditional brokers. But not as close to the spot rates that we could observe if we were to use Interactive Brokers.
I invested in a diversified portfolio of exchange-traded funds (ETF) and stocks listed in the US, Hong Kong and London.
My preferred broker to trade and custodize my investments is Interactive Brokers. Interactive Brokers allow you to trade in the US, UK, Europe, Singapore, Hong Kong and many other markets. Options as well. There are no minimum monthly charges, very low forex fees for currency exchange, very low commissions for various markets.
To find out more visit Interactive Brokers today.
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