Your Syfe account can be funded in both SGD and USD.
As our Syfe Core portfolios are USD denominated, our broker Saxo Capital Markets charges Syfe customers a very low currency conversion fee of 0.09% to place trades from their SGD denominated accounts. Retail investors generally pay much more (between 0.5% to 0.7%) in currency conversion fees.
If customers transfer funds in USD, there will be no currency conversion fee (as long as wire transfer / Telegraphic Transfer is selected) since our investing currency is in USD for the Syfe Core portfolios. However, kindly note that there is a minimum of US$10,000 required if you wish to transfer your funds in USD.
For our REIT+ portfolio, funds transferred in SGD will not be charged any currency conversion fee since the underlying REITs are SGD denominated.
At present, you may also make a Telegraphic Transfer (TT) in the following currencies: SGD, USD, AUD, CAD, CNH, HKD, NZD, GBP, NOK, SEK, CHF, EUR and JPY. Depending on your TT instruction, these currencies will be converted to either USD or SGD at the our bank DBS' exchange rate. Please see here for more information.