1. How to do currency conversion?
1-1. Open Tiger Trade mobile APP, click ① Portfolio > currency conversion, or ② Profile > Tiger Account > Prime - Securities Segment > Cash > Exchange, specify the currency and amount, and then exchange.
1-2. Open Tiger Trade PC APP, click Assets > Cash > Exchange, specify the currency and amount, and then exchange.
2. What is currency conversion?
Currency conversion is the exchange of cash currencies in the client's Tiger Account. After depositing funds, the client may exchange the cash into different currencies and invest in corresponding markets, with no financing interest rate charged (The cash settlement requires 2 trading days,there will be financing interest if trading with unsettled cash). Tiger Brokers supports trading in multiple markets with one account. Please refer to the following link to learn more about the current products available with Tiger Brokers: https://www.tigerbrokers.com.sg/help/detail/products-available.
3. What are the advantages of currency conversion?
Tiger Account is a multi-currency account that makes it easy for clients to trade the global markets. When trading global markets, the client may use multi-currencies exchanged in Tiger Trade instead of exchanging in a bank then depositing. Tiger's currency conversion rates are better than banks, and there are no commissions. If the client finances the transaction, with a margin loan,converting currency will reduce the interest expense of the margin loan.
4. What currencies can I exchange?
Tiger supports currency conversion in the following currencies: SGD, USD, HKD, CNH, AUD, NZD, EUR, GBP, and JPY.
5. What is the exchange rate?
The currency conversion rate is real-time and superior to that of most banks.
6. What are the fees for currency conversion?
Fees are currently waived.
7. When can I do the currency conversion?
6:20am to 4:55am next day (Singapore time) on trading days (Tiger Trade does not support currency conversion from 12pm - 1pm for the time being due to system settlement requirements).
8. Other notes
1) The currency conversion only supports the exchange of cash in the corresponding currency, but not financing. For example, if you have 10000 USD in cash and want to exchange it to HKD or CNH, the exchange limit is 10000 USD.
2) The settlement date of currency conversion is T+2 trading days.
3)Why can't I exchange all my SGD into USD completely? which there is always a balance of less than 1 SGD.
|Symbol||Security Type||Base Currency|
1. After making a deposit (not in USD), does the system automatically convert the funds into USD?
→ Tiger Trade APP does not do the currency conversion automatically. The base currency in Tiger is USD, so the currency displayed is USD. The client may view the actual cash amount via APP > Portfolio > Account > Cash. For example, if a client deposits SGD and intends to trade US stocks with Tiger, he/she has two options: 1. currency conversion: APP > Portfolio > Account > Cash > Exchange; 2. Trading by financing.
2. Can Tiger Account hold funds in multiple currencies at the same time?