FX Order Watch FAQ

• About FX order watch
  
• Placing an order watch
  
• After an order watch is placed
  

FX Order Watch service is a rate watching service that allows you to set your own target foreign exchange rate to convert funds automatically within your banking accounts, and / or to receive alert when the designated foreign exchange rate is reached.

If you have foreign currency accounts, you can set up orders straightaway in online banking or the HSBC Singapore app. Otherwise, you can set up your orders at a HSBC Branch.

The following currencies can be set up: Australian dollar, Canadian dollar, Euro, Japanese yen, New Zealand dollar, Pound sterling, Singapore dollar, Swiss franc, US dollar and Hong Kong dollar.

You can use FX Order watch to:

• gather real-time market data and FX news.
  
• check the market spot reference and historical trend chart for the past 5 years.
  
• view technical analysis such as the Relative Strength Index, moving averages, support and resistance levels.
  
• access related FX news and economic and technical analysis indicators provided by Reuters.
  

The FX Order Watch service is available to all customers with foreign currency accounts.

You may set up email or SMS text notifications.

You can set up orders at minimum of USD 100 and maximum of USD 1,000,000 for currency pairs.

There is no transaction fees and charges for the usage of this service.

The orders will be carried out when the HSBC Watched Rate¹ meets the prevailing HSBC foreign exchange rate applicable to the relevant currencies³. The checks are done every 10 seconds, or such other frequency or interval as may be determined by the Bank from time to time.

At the time of actual transfer, the order will be carried out at the Client Target Conversion Rate², and at an amount which is determined by the Bank with reference to the transfer amount set by the customer. The prevailing HSBC foreign exchange rate applicable to the relevant currencies³ provided by HSBC market makers that may be different from the rates published by external sources such as Reuters and Bloomberg.

The prevailing HSBC foreign exchange rate applicable to the relevant currencies provided by HSBC market makers may be different from the rates published by external sources such as Reuters and Bloomberg. The HSBC Watched Rates¹ are taken from our HSBC proprietary trading desk.  As a result, when the HSBC Watched Rate appears to match the foreign exchange rates from external sources, they may not have met the prevailing HSBC foreign exchange rate.

No, the orders will not be carried out.

The orders will stand for maximum of 30 calendar days, while the FX Rate alert will stand for maximum of 90 calendar days.

Yes, you may cancel your order if the order is not carried out or in processing. However, time is needed to accept and act upon the cancelation. Until the order is cancelled, the order may still be acted upon.

The amount in the order cannot be withdrawn, while the order is not cancelled or in processing.

Important notes

¹HSBC Watched Rate refers to the rate provided by the Bank to the Customer as the watched rate prior to the placement of any transfer instruction by the Customer, being the Client Target Conversion Rate with Bank spread incorporated.

²Client Target Conversion Rate refers to the exchange rate at which actual transfers shall be made to effect purchases of currencies which the customer may elect.

³Prevailing HSBC foreign exchange rate applicable to the relevant currencies refers to the prevailing HSBC foreign exchange rate applicable to the relevant currencies provided by HSBC market makers that may be different from the rates published by external sources such as Reuters and Bloomberg.