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Foreign exchange FAQ

How do I invest in foreign currency?

There are two ways to gain a return on your capital from foreign currency, either through interest-rate differences or exchange-rate fluctuations.

Many financial institutions offer margin trading on foreign currencies. Of course, this is highly speculative and can be extremely risky. If the currency devalues by more than your interest return, you may potentially incur losses on your principal amount.

What are the various FX products/services that HSBC offers me?

Round-the-clock automated Limit Orders with FX Order Watch

Access real-time FX trading services anytime, anywhere. Simply set your target exchange rate and leave it to us to monitor the market and convert your funds for you when your designated rate is reached 24 hours a day, 5.5 days a week.

Transfer funds globally at low cost

Experience one view of all your HSBC accounts worldwide and perform instant transfers between them with Global View & Global Transfer.

Transfer funds to banks outside of Singapore with ease

Access multiple currencies with Everyday Global Account

Meet your transactional needs in up to 11 different currencies with one account that you can manage anytime, anywhere.

Stay informed with market insights and investment analysis

Get the latest on global economic landscapes and insights from our financial experts.

Keep track of the global currency markets and spot opportunities when they become available with a daily market view with FX insights.

Never miss a payment

Enjoy preferential real-time rates on weekdays and set up standing instructions to send payments and remittances to over 26 countries/regions.

What can I use FX for?

Below are some suggestions on ways to use FX:

  • Payments in foreign currencies (personal expense, rent fees, credit card payments, utility payments, education fees, Insurance premium), 
  • Travel expenses, 
  • Purchase of property,
  • Investment,
  • Savings and more

What are the regulatory restrictions related to FX?

  • There are limited restrictions pertaining to currencies that can be cleared locally. For example, KRW, TWD, MYR.
  • We will not be able to clear onshore RMB.

What are FX Structured Products?

We have Dual Currency. HSBC's Dual Currency Plus offers you the potential to earn higher returns through investing in a currency-linked option. By selecting a currency pair you are comfortable holding, you can take advantage of currency market movements. This is a regulated product and follows the sales process.

Who can transact in FX?

Any client that holds an account with us. More details as seen below.

FX Order Watch

The FX Order Watch service is available to all HSBC customers who have foreign currency accounts.

If you do not have a foreign currency account, you may open an Everyday Global Account that gives you access to up to 11 currencies to make a foreign currency exchange. More information can be found here.

Worldwide Transfer

You will need to have an overseas beneficiary’s crediting account to complete a worldwide transfer.

Global View and Global transfer

You will need eligible HSBC accounts in another country/region to make a transfer.

What platforms are available for me to deal in FX?

Via HSBC Online Banking, QuickFX mobile app, or in branch.

Simply log on to HSBC Online banking to make an FX transfer on the following platforms:

  • FX Order Watch
  • Global transfer
  • Worldwide transfer

For premier customer, enquire about preferential pricing (through Relationship Manager).

How do I invest in commodities?

This is currently not available in HSBC Singapore.

What are the risks associated with FX products?

FX is subject to exchange rate fluctuations, for example, (but not limited to) exchange rate risk, liquidity risk, country/region risk. These risks will subject your foreign currency deposit to exchange rate fluctuation. If you choose to convert your foreign currency to other currencies at an exchange rate that is less favourable than the exchange rate in which you made your original conversion to foreign currency, you may suffer loss in principal.

As a customer, will I get access to the latest FX update?

You may access the daily FX updates through here.