On this page
About FX Order Watch
What is FX Order Watch?
FX Order Watch service is a rate watching service that allows you to set your own target foreign exchange rate to convert funds automatically within your banking accounts, and / or to receive alert when the designated foreign exchange rate is reached.
How can I set up a FX Order Watch?
If you have foreign currency accounts, you can set up orders straightaway in online banking or the HSBC Singapore app. Otherwise, you can set up your orders at a HSBC Branch.
What currency pairs can I set up in FX Order Watch?
The following currencies can be set up: Australian dollar, Canadian dollar, Euro, Japanese yen, New Zealand dollar, Pound sterling, Singapore dollar, Swiss franc, US dollar and Hong Kong dollar.
What other features are there in FX Order Watch?
You can use FX Order watch to:
- gather real-time market data and FX news.
- check the market spot reference and historical trend chart for the past 5 years.
- view technical analysis such as the Relative Strength Index, moving averages, support and resistance levels.
- access related FX news and economic and technical analysis indicators provided by Reuters.
Who can use the FX Order Watch service?
The FX Order Watch service is available to all customers with foreign currency accounts.
What kind of alerts will I get?
You may set up email or SMS text notifications.
What is the minimum amount and maximum amount I can set up in FX Order Watch?
You can set up orders at minimum of USD 100 and maximum of USD 1,000,000 for currency pairs.
Placing an order watch
Are there any fees and charges for FX Order Watch?
There is no transaction fees and charges for the usage of this service.
When will my orders be carried out?
At what rates are my orders carried out on?
At the time of actual transfer, the order will be carried out at the Client Target Conversion Rate2, and at an amount which is determined by the Bank with reference to the transfer amount set by the customer. The prevailing HSBC foreign exchange rate applicable to the relevant currencies3 provided by HSBC market makers that may be different from the rates published by external sources such as Reuters and Bloomberg.
My Watched Rate matched with interbank rates shown on Reuters and/or Bloomberg, but why is my order/alert not executed?
The prevailing HSBC foreign exchange rate applicable to the relevant currencies provided by HSBC market makers may be different from the rates published by external sources such as Reuters and Bloomberg. The HSBC Watched Rates1 are taken from our HSBC proprietary trading desk. As a result, when the HSBC Watched Rate appears to match the foreign exchange rates from external sources, they may not have met the prevailing HSBC foreign exchange rate.
Will my orders be carried out if there insufficient funds in my account?
No, the orders will not be carried out.
What are the maximum number of days can I set for FX Order Watch and FX Rate Alert?
The orders will stand for maximum of 30 calendar days, while the FX Rate alert will stand for maximum of 90 calendar days.
After an order watch is placed
Can I cancel my order?
Yes, you may cancel your order if the order is not carried out or in processing. However, time is needed to accept and act upon the cancelation. Until the order is cancelled, the order may still be acted upon.
Can I withdraw the amount placed in my order?
The amount in the order cannot be withdrawn, while the order is not cancelled or in processing.
1HSBC Watched Rate refers to the rate provided by the Bank to the Customer as the watched rate prior to the placement of any transfer instruction by the Customer, being the Client Target Conversion Rate with Bank spread incorporated.
2Client Target Conversion Rate refers to the exchange rate at which actual transfers shall be made to effect purchases of currencies which the customer may elect.
3Prevailing HSBC foreign exchange rate applicable to the relevant currencies refers to the prevailing HSBC foreign exchange rate applicable to the relevant currencies provided by HSBC market makers that may be different from the rates published by external sources such as Reuters and Bloomberg.