Standard Chartered US$ Forex Spread

One very frequently sees posts in HWZ saying that SCB forex spread is bad. For those planning to buy IWDA and hold 20+ years to retirement, I can only say 'so what'?

User Chopra on HWZ found a 2016 post on SCB where it was pointed out that the spread  for US$ was 2.2% two ways (i.e. buy-sell) or 1.1% one-way. A 1.1%/ 2.2% one-off forex premium shouldn't discourage anyone from investing for 20 years, but many keyboard warriors seem 'paralyzed'. They say SCB has bad forex, then they worry whether IB is 'safe' and about 'tax' and the US$10 activity fee.

More users have done the calculation and the 2018-2019 SCB forex spread over IB is now only 0.65% one way (or 1.3% both ways). Yet I guarantee you that keyboard warriors will continue to complain about SCB's 'bad' forex rate.

2020 Edit: The forex spread for IB is now 0.4%


SCB USD High Account holders can also deposit physical US$ cash without charges, but I already calculated that saves your $4 for every $1,000 deposited. Frankly, if I can just change my S$ to US$ electronically, why would I bother with the hassle of finding the moneychanger with the best rate and queuing up at bank to deposit cash?


2016 Post for reference: http://buyaftercrash.blogspot.com/2016/06/interactive-brokers-or-standard.html?m=1