FX Rates Offered By Standard Chartered Singapore Tightens to 0.30%

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.

Sell and Buy are rates offered by Standard Chartered LiveFX. We compare them against OFX and X-Rates

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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Kyith

Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.

Readers also follow Kyith to learn how to plan well for Financial Security and Financial Independence.

Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Insurance Start-up Havend. All opinions on Investment Moats are his own and does not represent the views of Providend.

You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.

His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.

You can read more about Kyith here.

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