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 Account > 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?
Market hours：Mon to Sat，6:20-next 4:55, UTC+8
Weekend hours：Sat to next Mon，6:20-next 4:55, UTC+8
8. Other notes
The settlement periods of currency conversion are T+0 or T+1, depending on clients’ selection.
The unsettled cash can be used to make T+1 conversion. If you choose T+1 conversion, you can directly use the funds to open US stocks or options after the successful conversion. On the contrary, if you close the position of US stocks or options, you can directly convert the funds.
The settled cash can be used to make T+0 conversion. If you choose T+0 conversion, you can make withdraw/transfer/other trades directly. However, if you close the positions for other trades, you need to convert funds after the settlement is finished in your account.
*For the base currency of each currency conversion, please refer to this list
Symbol | Security Type | Base Currency |
AUD.CNH | Foreign Exchange | AUD |
AUD.HKD | foreign exchange | AUD |
AUD.JPY | foreign exchange | AUD |
AUD.NZD | foreign exchange | AUD |
AUD.SGD | foreign exchange | AUD |
AUD.USD | foreign exchange | AUD |
CNH.HKD | foreign exchange | CNH |
CNH.JPY | foreign exchange | CNH |
EUR.AUD | foreign exchange | EUR |
EUR.CNH | foreign exchange | EUR |
EUR.GBP | foreign exchange | EUR |
EUR.HKD | foreign exchange | EUR |
EUR.JPY | foreign exchange | EUR |
EUR.NZD | foreign exchange | EUR |
EUR.SGD | foreign exchange | EUR |
EUR.USD | foreign exchange | EUR |
GBP.AUD | foreign exchange | GBP |
GBP.CNH | foreign exchange | GBP |
GBP.HKD | foreign exchange | GBP |
GBP.JPY | foreign exchange | GBP |
GBP.NZD | foreign exchange | GBP |
GBP.SGD | foreign exchange | GBP |
GBP.USD | foreign exchange | GBP |
HKD.JPY | foreign exchange | HKD |
NZD.CNH | foreign exchange | NZD |
NZD.HKD | foreign exchange | NZD |
NZD.JPY | foreign exchange | NZD |
NZD.USD | foreign exchange | NZD |
SGD.CNH | foreign exchange | SGD |
SGD.HKD | foreign exchange | SGD |
SGD.JPY | foreign exchange | SGD |
USD.CNH | foreign exchange | USD |
USD.HKD | foreign exchange | USD |
USD.JPY | foreign exchange | USD |
USD.SGD | foreign exchange | USD |
FAQs
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?
→ Yes.