1. How to Exchange Currency
To exchange currency on the moomoo app:
Step 1: Tap Accounts > Transfers > Exchange.
Step 2: Select the currencies to exchange.
Step 3: Enter the amounts.
Step 4: Submit the currency exchange requests.
Rates: Real-time exchange rates provided by the upstream bank.
Note: If a currency exchange request is submitted during non-trading days, you may cancel it by going to: Accounts > Transfers > Exchange > Exchange History.
2. Exchangeable Amount
When you exchange currency, the system automatically calculates your exchangeable amount (cash) and exchangeable amount (FEP).
The exchangeable amount (cash) may depend on different factors, such as recent deposits and withdrawals, the value of shares bought and sold, transaction fees, and clearing and settlement dates.
For example, if you sell $10,000 worth of shares on the US stock market on the transaction day (T day), the funds cannot be exchanged until one day after the transaction day (T+1 day) when the Exchange will have settled this transaction.
Note: The conversion of Ringgit Malaysia into other foreign currencies is only permitted following a filled buy order, up to the permissible conversion amount. The permissible conversion amount will be determined by the value of your filled buy order minus your remaining cash balance in the relevant currency. In the event that your existing cash balance in the relevant currency is already sufficient to fully cover the filled buy order, no additional conversion from Ringgit Malaysia will be extended. For example, if a buy order valued at $10,000 is filled and cash balance held is $2,000, the permissible conversion amount would be $8,000.
3. Processing Time
3.1 Real-time processing
Real-time: For exchange requests submitted between Monday at 7:00 AM MYT and Saturday at 4:00 AM MYT during Daylight Saving Time (or 5:00 AM MYT during Standard Time), currency exchanges will be processed in real-time.
3.2 Queued processing
Weekends & Holidays: For exchange requests submitted on weekends or holidays, currency exchanges will be queued for processing until the next available time.
For example, if you submit an exchange instruction on Sunday, it will be queued until Monday at 7:00 AM MYT when the Exchange begins processing again. For holiday arrangements, please refer to the relevant announcements.
4. Funds Availability after Currency Exchange
4.1 Exchange MYR for USD
The USD converted from MYR during the Malaysia stock trading hours will be available during US stock pre-market hours on the same day when the exchange occurs. Alternatively, you may also exchange the USD back into MYR or submit a withdrawal request once the exchange is complete.
The USD exchanged from MYR during the US stock trading hours will be available for trading once the exchange is complete. Alternatively, you may also exchange the USD back into MYR or submit a withdrawal request once the exchange is complete.
4.2 Exchange USD for MYR
The MYR exchanged from USD during the Malaysia stock trading hours will be available for trading once the exchange is complete. Alternatively, you may also exchange the MYR back into USD or submit a withdrawal request once the exchange is complete.
The MYR exchanged from USD during the US stock trading hours will be available for trading after the Malaysia stock market opens on the next trading day. Alternatively, you may also exchange the MYR back into USD or submit a withdrawal request once the exchange is complete.
Note: The funds availability time will be postponed accordingly in the case of weekends or public holidays.
5. Exchange Limits
| Exchanged Currency |
Max Amount per Day |
Min Amount per Exchange |
| USD |
350,000 USD / Day
|
1 USD / Exchange |
| MYR |
1 million MYR / Day |
1 MYR / Exchange |
| SGD |
250,000 SGD / Day
|
1 SGD / Exchange
|
| HKD |
1.5 million HKD / Day
|
1 HKD / Exchange
|
|
CNH
|
1.5 million CNH / Day
|
1 CNH / Exchange
|
If the amount of funds you'd like to exchange exceeds the limits above, please contact our customer service team for further assistance.
