Currency exchange FAQ

1. How Do I Exchange Currencies?

Open the app, and go to Accounts > Select an account > Transfers > Currency Exchange. Choose the currencies and amount, then complete the exchange.

Exchange Rate: Real-time rates provided by upstream banks

Fees: No extra fees

Cancellation: You can cancel exchanges made on non-trading days by going to Accounts > Select an account > Transfers > Currency Exchange > Exchange History.

2. What Is the Limit of Exchangeable Amount?

When you exchange currencies, the system automatically calculates your available exchangeable amount.

Factors that affect your exchangeable amount include:

• Deposits and withdrawals
• Stock purchases and sales
• Transaction fees
• Settlement and clearing

Example: If you sell HKD 10,000 worth of Hong Kong stocks on Day T, the funds will only be available for exchange after settlement on T+2 (two business days later).

To check your exchangeable amount:

Go to Accounts > Select an Account > Transfers > Currency Exchange. Your available amount will be displayed on the page.

3. Estimated Exchange Completion Time

Please note: The information below is for reference only. Actual completion times may vary.

3.1 When Exchanges Complete in Real-Time

Exchange orders submitted from Monday 07:00 AM to Saturday 04:00 AM (daylight saving time) / 05:00 AM (standard time) are typically completed in real-time.

Note: Between 16:00 and US market open (21:30 daylight saving time / 22:30 standard time), exchanges are normally processed in real-time but may be delayed due to upstream processing times. In such cases, the exchange will be processed after US market open.
To cancel an exchange, go to Currency Exchange > Exchange History.

3.2 When Exchanges Are Not in Real-Time

Exchange orders submitted on weekends and holidays will be processed at the next available exchange time.

Example: Orders submitted on Sunday will be completed on Monday at 07:00 AM.

Holiday schedules may vary. Please check our announcements for updates.

4. When Can I Use or Withdraw My Exchanged Funds?

4.1 Exchanging HKD to USD

During HK market hours:

• Trading: Available same day during the overnight session
• Withdrawal/reverse exchange: Available immediately

During US market hours:

• Trading: Available immediately
• Withdrawal/reverse exchange: Available immediately

4.2 Exchanging USD to HKD

During HK market hours:

• Trading: Available immediately
• Withdrawal/reverse exchange: Available immediately

During US market hours:

• Trading: Available next HK trading day
• Withdrawal/reverse exchange: Available immediately

If the scheduled date falls on a holiday, funds will be available on the next trading day.

Example (all times in HongKong Time):

5. Maximum Exchangeable Amount

6. Korean Won (KRW) Exchange Special Notes

6.1 USD→KRW Manual Exchange Restriction

The system currently does not support customers manually initiating USD→KRW exchanges. When selecting USD as the source currency and KRW as the target currency on the Currency Exchange page, a popup will appear:
"Due to KRW conversion restrictions, the system currently does not support manual USD→KRW conversion. If you buy Korean stocks and owe KRW, the system will automatically convert USD→KRW after the Korean market closes to pay off the KRW you owe that day. Manual USD→KRW conversion is coming soon. Stay tuned. "

6.2 USD→KRW Forced Exchange Mechanism

• Eligible Accounts: HK margin accounts holding Korean stock margin positions with existing KRW liabilities

• Execution Time: Every Korean stock trading day, HKT 14:30-15:00 (after Korean stock market close)

• Exchange Amount: Full amount of real-time KRW liabilities at execution time

• Special Cases: Even if the USD balance is negative (overdraft), the system will still execute the forced exchange to ensure Korean stock settlement.

6.3 Relationship Between USD→KRW Forced Exchange and Auto Exchange

KRW forced exchange and the regular multi-currency auto exchange feature are two independent functions that do not affect each other. Regardless of whether the auto exchange feature is enabled or disabled, the system will always scan your account's KRW balance after Korean stock market close and execute forced exchange upon detecting any outstanding liabilities.

6.4 FAQ

Q: Why does a popup appear saying exchange is not supported when selecting USD→KRW?
A: Due to Korean Won special regulations, the system automatically executes USD→KRW forced exchange after Korean stock market close based on your real-time KRW liabilities to ensure Korean stock settlement.

Q: How much USD will be deducted for forced exchange?
A: Calculated based on the account's real-time KRW liabilities and real-time exchange rate at execution time, settled in full.

Q: Can the exchange be completed if USD balance is insufficient?
A: Yes. The system will prioritize executing the exchange to ensure Korean stock settlement, allowing the USD account balance to go negative (overdraft). This can be subsequently repaid through USD deposits or position closing.

Q: Can KRW be exchanged for other currencies?
A: Currently KRW only supports bidirectional exchange with USD. Customers can normally initiate KRW→USD manually; USD→KRW is only executed automatically by the system.

Q: When will forced exchange be triggered?
A: After the Korean stock market close every Korean stock trading day (HKT 14:30-15:00), automatically executed once daily if there are KRW liabilities.

If you exchange more than the maximum exchangeable amount, please contact customer service at 400-870-1818.