Currency exchange

1. How to Exchange Currency

To exchange currency on the moomoo app:

Step 1: Tap Accounts > Transfers > Currency 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.

Fees: Free.

Note: If a currency exchange request is submitted during non-trading days, you may cancel it by going to:

Accounts > Transfers > Currency 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 two days after the transaction day (T+2 day) when the Exchange will have settled this transaction.

To check your exchangeable amount:

Go to Accounts > Transfers > Currency Exchange > Exchangeable Amount (Cash)/Exchangeable Amount (FEP).

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

If the amount of funds you'd like to exchange exceeds the limits above, please contact our customer service team for further assistance.