You have the option of transferring USD or SGD funds to your Brokerage account.
When adding funds, click the desired currency and transfer funds to the account number specified.
Here are the options available and the considerations to take note of.
You may transfer SGD funds to SYFE CLIENT SGD ACC, an SGD receiving account. Thereafter, you may perform a currency conversion from SGD to USD in your Syfe app. The SGD to USD conversion rate is competitive and your total transaction cost would be lower via this funding method.
You may transfer USD funds directly to SYFE CLIENT USD ACC, a USD receiving account. In this case, there's no need for you to convert any funds to USD before placing a trade.
- Kindly note that Syfe does not charge any fees for receiving funds in USD.
- However, the remitting bank (your bank) and the beneficiary bank (our bank) may impose charges at the banks' discretion.
- These bank charges will be borne by the client and not by Syfe.
Please note that for transfers in USD, there may be a 1-2 business days processing time before the funds reaches us, depending on the bank. Your funds will be processed once we receive them.
You may transfer SGD funds to SYFE CLIENT USD ACC, a USD receiving account. While your transfer will be successful and HSBC will automatically convert your SGD to USD for you, please be aware of the higher FX rate charged by HSBC. The conversion rate via this funding method is higher compared to the funding method in Option 1.