Tiger Account supports you to hold funds in multiple currencies at the same time. You can convert the funds in your account in the Tiger Trade App to meet your trading needs in different markets.
1. How to convert currencies
Path: Log in to the Tiger Trade App, click "Position->Convert", select the conversion purpose, currency, and amount, and then you can conversion. At the same time, you can see the current conversion rate and the estimated cash change caused by the conversion on the conversion page
Fees: No additional handling fees
Convertible currencies: Including but not limited to US dollars, Hong Kong dollars, offshore RMB, Singapore dollars, Japanese yen, euros, etc. For the latest convertible currencies, please refer to the actual currency displayed on the app
Conversion rate description: We will conversion for you at the real-time conversion rate. Due to market conversion rate fluctuations, the conversion rate of your conversion order may be different from the conversion rate displayed on the page when it is submitted
Transaction speed: Generally instant transaction
2. When can currency conversion be performed?
Monday to Friday: 6:20-4:55 the next day (UTC+8)
Saturday to Sunday: 6:20-4:55 the next day (UTC+8, this is the weekend period)
Note: The settlement time, limit and price of weekend currency conversion are slightly different from those of trading day currency conversion. Please refer to the “Weekend Currency Conversion” .
3.How to calculate the convertible amount?
The convertible amount is affected by many factors, such as unfinished orders/transfers/maximum convertible amount/settlement cycle, etc.
Depending on the purpose of the currency conversion you choose, the system will automatically match the optimal settlement cycle for you and provide a range of selectable settlement cycles. A longer settlement cycle can provide you with more convertible funds. However, we recommend that you choose a shorter settlement cycle if you have sufficient convertible cash.
Note: Please choose the purpose of the currency conversion according to the actual situation to avoid unexpected limits on your subsequent actions.
Path: You can switch currencies on the "Position->Convert" page to view the "convertible amount" of each currency in your account.
4.Is there an amount limit for currency conversion?
The maximum limit for a single conversion order settled on T+1/T+2 is US$5,000,000 equivalent. The maximum limit for a single conversion transaction settled on T+0 is US$1,000,000 equivalent.
If you place an order during the weekend, each account has a cumulative conversion limit of US$100,000 equivalent.
In addition, it is recommended that the "Convert To" amount for a single conversion order should not be less than 0.1.