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A non market maker with competitive spreads and pricing.
What Are The Charges?

Forex Spreads
For major currency pairs, the bid/ask spread will range from 1.9 pips (EUR/USD) to 3.5 pips (USD/CHF) although the spreads may widen during major news releases.

No Commission/Brokerage Charges
KE Forex allows you to trade without incurring commission or brokerage charges. You will not be charged Goods and Services Tax (GST).


Swaps/Rollover Charges
Swaps refer to the interest paid or earned for holding a position overnight. As Forex is traded in pairs and each currency has an interest rate associated with it, every trade involves not only 2 different currencies, but two different interest rates. If the interest rate on the currency you bought is higher than the interest rate of the currency you sold, you will earn swaps (positive swap). If however, the interest rate on the currency you bought is lower than the interest rate on the currency you sold, you will pay swaps (negative swap). Swaps can add significant extra cost or profit to your trade.

Daily interest credit or debit will be made for three days as opposed to one day for any position that remains open after 5am* (Singapore Time) Thursday. This three-day adjustment covers settlement of trades over the weekend.

* Time is dependent on when Daylight Savings Time is in effect. You are required to add an additional hour to 5am (Singapore Time) from November to March.


Tax
There is withholding tax on swaps credit for a client who has opened the account under an overseas investor declaration, subject to the prevailing Singapore government rate.

Are There Any Other Fees ?

There is no fee needed to maintain or close your KE Forex account. No interest is earned on dormant funds.

What is the Settlement Currency of Realised Profits/Losses?

All realised profits or losses will be converted on a real-time basis at the time of closure to the base currency of your account.

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