Guide to Currency Exchange

This article explains Longbridge's currency exchange feature and its operational procedures.

About currency exchange

Currency exchange refers to the exchange of one currency for another within a securities account. To facilitate fund transfers between Hong Kong and US stock markets, Long Bridge (HK) Limited provides currency exchange services.

Currency exchange process

Open Longbridge App > Portfolio > More > Currency Exchange, where you can check the current exchange rate and convert currencies by entering the desired amount.

Key Takeaways:

• Path: Longbridge App > Portfolio > More > Currency Exchange
• Real-time exchange rate: Displays the latest rates at the time of conversion
• Applicable scenarios: Include fund allocation for Hong Kong/US stock investments, and multi-currency account management

Notes

1. Exchange rates: The rates displayed on the exchange page are for reference only. The actual converted amount shall prevail.
2. Reminder: The currency exchange feature is solely for trade settlement purposes. Please refrain from using it for currency speculation. Requests unrelated to trading will be rejected. Proceed with caution.
3. Rounding: Due to system limitations, all currency exchange transactions will be rounded to two decimal places for cash balances.

FAQs

Q1: Which currencies are supported for exchange?

Currency exchange supports USD and HKD.

Q2: Are there any fees for currency exchange?

No service fees are charged for currency exchange.

Q3: How is the exchange rate calculated?

Exchange rates fluctuate in real-time, and the rate applied will be the one in effect at the time of conversion.

Q4: How long does currency exchange take? (The following information is for reference only, and actual processing times may vary.)

• Real-time processing: Orders submitted between 08:00 on trading days and 05:00 the next day are typically completed in real-time (excluding December 25 and January 1).
• Non-real-time processing: Orders submitted during non-trading days will be processed when exchange services reopen on the next trading day. For example, an order placed on Sunday will be completed after 08:00 on Monday.

Note: Longbridge provides advance notices for holiday schedules. Stay updated via official announcements.
 

Q5: Why is my convertible amount different from my withdrawable amount?

If your account holds short positions, the convertible amount and the withdrawable amount are calculated differently. Currency conversion only exchanges funds between currencies within your account, so no short position margin needs to be reserved. A withdrawal moves funds out of your account, so the system must retain the margin required for your short positions, which means the withdrawable amount will be lower.

Please note that if the price of your short positions rises after conversion, the original currency may go into arrears and incur interest.

Other Notes 
1. Exchange rate: The exchange rate shown on the conversion page is for reference only. Please refer to the actual amount after conversion. 
2. Reminder: The currency conversion function is intended solely for trade settlement. Please do not use it for currency speculation. Any request unrelated to trading will be rejected, so please proceed with care. 
3. Rounding: As our trading system only supports precision up to a specified number of decimal places, clients' cash balances arising from currency conversion will be rounded to two decimal places.

This article is for reference only and does not constitute any investment advice.