Margin or no margin??
$TENCENT (00700.HK)$ Quick question.. if I want to buy hk stocks but don’t have HKD in moomoo.. Do I buy first, pay by margin then convert My cash to HKd to pay or better to convert to HKd first tHen purchase the stock??
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ddaryll : I think you have to convert to HKD in cash first before purchasing HKD shares
ToTheMoon29 : u need to deposit in SGD then convert into HKD in moo currency exchange. Never buy using margin... it's like borrowing fm Loan Shark
102928477 Win : You can just buy the shares first and convert Hkd to your HKD margin account wIthin a day or 2
serababy OP 102928477 Win : So When purchase shares on margin we should have t+2 to settle correct? Hence should not incur the interest as long as we convert to HKD to cover for the purchase? Or the interest will start immediately upon purchase?
102928477 Win serababy OP : Interest will not start immediately. U have 2 days to settle
serababy OP 102928477 Win : So I can close deal with no HKD. After deal is done, I can then convert my sgd to HKD and Settle before T+2 without incurring interest? This is the margin we are talking in this context correct?