This article will quickly answer common questions about currency conversion.
1. What is currency conversion?
Currency conversion refers to the mutual conversion between multiple currencies which you may wish to perform in your Trading Account where the base currency is not denominated in Singapore Dollar ("non-SGD").
Long Bridge Securities Pte. Ltd. offers currency conversion features to facilitate your trading in Singapore, Hong Kong stocks and U.S. stocks which are denominated in non-SGD currency.
2. How are currency conversions performed?
In the Longbridge App, go to "Portfolio" > "More" > select "Conversion".
Here, you can view the current conversion rates. Select the currency and enter the amount you wish to convert.
3. Which currencies does the currency conversion support?
To facilitate your trading in the various markets, LBS supports the exchange between the following major currencies:
- SGD
- USD
- HKD
4. How much does it cost to perform conversion currency?
There is no service fee for currency conversion.
Exchange rates used are subject to the usual foreign exchange fluctuations in the market.
5. How is the currency conversion rate calculated?
Since currency conversion rates fluctuate in real-time, the conversions you perform are based on rates charged by LBS, which are calculated using rates obtained from banks.
Notice
- Conversion rate: The conversion rate displayed on the conversion page is for your reference only. The actual conversion rate which LBS uses to process your currency conversion request may differ.
- Reminder: The currency conversion feature is only offered to facilitate your transaction settlement purposes. Please refrain from using this feature for currency speculation. Requests that are not related to trade-related transactions may be rejected.
Disclosures
This article is for reference only and does not constitute any investment advice.
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Registered with the Monetary Authority of Singapore (MAS), Long Bridge Securities Pte. Ltd. is a Capital Markets Services Licence holder and Exempt Financial Adviser (Licence No. CMS101211).
A licensed corporation recognized by the SFC (CE No. BPX066). Holder of License Types 1 (Dealing in Securities), 2 (Dealing in Futures Contracts), 4 (Advising on Securities) and 9 (Asset Management). Also a registered HKEX participant and HKSCC participant.
Long Bridge Securities LLCA broker dealer registered with the Securities and Exchange Commission (SEC)(CRD: 314519/SEC: 8-70711), a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC).
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Long Bridge Securities Pte. Ltd. (“Long Bridge Securities”) (UEN No.: 202111825D) is regulated by the Monetary Authority of Singapore and holds a Capital Markets Services Licence for dealing in capital markets products that are securities, collective investment schemes, and exchange-traded derivatives contracts, and is an Exempt Financial Adviser.
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