Currency Exchange FAQ: How do I buy US/HK/CN shares with SGD (or your home currency if you are in other countries)?

Also known as: Why is there a prompt that buying power is insufficient and I will be buying on margin when I have cash in my account? / How do I purchase SGX listed stocks denominated in foreign currencies?

*** Max Qty to Buy (Cash) does not show the amount of funds you have but the max number of shares that can be purchased with your cash at the price input in the order form.

For example, if you have $2000 cash and the stock price is $2, you can only buy slightly fewer than 1000 shares after factoring in commission/platform/GST/regulatory fees and the fact that the lot size is a multiple of 100 for SGX-listed stocks.

1)For those who only have 1 Universal Account (eg moomoo Singapore users)

You must have the local currency for the stock you wish to buy before placing a Buy order or you will be using margin. For example, to buy shares in the US stock exchanges, you need USD. To buy shares in the SGX, you need SGD. Click here for information about margin trading Margin Trading-moomoo Help Center To turn off margin, go to Me > Settings > Account Page & Positions > Margin Settings. This can only be done if you have settled all outstanding loans and accrued interest. Interest is billed at the end of the month. If it is not paid off, it will accrue in the following month.

If you have funds in a different currency in your Universal Account, you can go to Accounts > More> Currency Exchange to convert it to the required currency. There is no additional fee apart from the quoted exchange rate.

Currency Exchange FAQ: How do I buy US/HK/CN shares with SGD (or your home currency if you are in other countries)?

2) For those of you who have a forex account with moomoo, the funds in the Universal Account cannot be used directly. When you do the currency exchange, make sure you select the correct destination account to hold the converted currency. If you selected the wrong destination account, you can go to Accounts > More > Cash Transfer to transfer the funds from your universal account to your forex account.

For more information on currency exchange, see Currency exchange FAQ-moomoo Help Center

For information on how to place a buy/sell order, see FAQ: How to place a Buy or Sell Order?

How to Contact Customer Service: https://www.moomoo.com/community/feed/106193669259270?lang_code=2

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