Feature Overview
OneClick Convert and Trade (OneClick) feature is an intelligent currency conversion tool designed to enhance the clients’ trading experience, optimise their fund utilisation efficiency, and reduce delays and errors associated with manual currency conversion. The feature automatically converts the currency in the account to the currency required to place an order.
Without this feature, the client would have to ensure that their account already holds sufficient funds in the required trading currency. If the trading currency’s purchasing power is insufficient, the client would need to exit the product order placement page, navigate to the currency conversion page, manually calculate the shortfall, perform the conversion, and then return to the product order placement page to complete the transaction. This process increases operational steps, impacts trading timing, and may result in insufficient or excessive conversion amounts due to exchange rate fluctuations.
With OneClick feature , the purchasing power available for placing a particular trade is no longer limited to the trading currency. The system will automatically calculate the total purchasing power across all currencies in the account and the required conversion amount based on real-time exchange rates. Upon the client's confirmation, the system will automatically complete the currency conversion and place the trading order, achieving a one-click FX and product order placement process.
Key Benefits
One-Click Conversion and Trade Order placement: The system automatically calculates the required conversion amount based on the order amount (including fees) and the available account balance, executing the conversion and completing the trade order placement with one single click.
Cross-Currency Purchasing Power: When placing a trading order, the available purchasing power is not limited to the trading currency. The system can utilise all currency balances in the account to meet trading requirements.
Optimised Trading Timing: Avoid missing the best trading opportunities due to additional manual conversion steps, improving order placement success rates.
Reduced Conversion Errors: The system calculates the required conversion amount based on real-time market exchange rates, minimising errors caused by manual calculations that may result in insufficient or excessive conversion amounts.
Feature Details
Applicable Products: Stocks, ETFs, and Options.
Applicable Markets: All available financial markets currently being offered by Tiger Brokers Australia.
Supported Order Types: Limit orders and market orders placed in the amount required; regular investing/auto investing is not currently supported.
Supported Currencies: All available currencies offered in the trading account.
Fees: Standard FX fees apply. No additional fees are charged for using the function. For fee details, please refer to the Financial Services Guide and pricing page on our website.
Zero currency exchange fees card (if applicable): If you hold a zero currency exchange fees card, it will be automatically applied when using the OneClick function to convert currencies.
Currency Selection Logic: The system calculates the purchasing power of each currency in the account based on real-time exchange rates and selects one or multiple currencies (if applicable) in descending order to complete the conversion.
FX Settlement: T+2.
Order Cancellation: Once a FX conversion order is submitted, it is generally non-cancellable. Conversion orders are typically completed when the product trading order is successfully placed. Before the product trading order is executed, clients can cancel the product trading order at any time, but cancellation will not affect the completed conversion order.
Order Modification: Once a FX conversion order is submitted, it is generally non-modifiable. Conversion orders are typically completed when the product trading order is successfully placed. Before the product trading order is executed, clients can modify the order at any time. Such modifications will not affect the completed conversion order. The system will recalculate the purchasing power based on the modified amount and determine if additional conversion is required.
FX Service Hours: Consistent with general FX conversion services offered by Tiger Brokers Australia, the FX conversion using the OneClick function is not available 24/7. For specific hours, please refer to the notes on the manual conversion page on the Tiger Trade app and the FAQs on our website.
Important information
By using the OneClick function feature, you confirm that:
You have read and understood the Terms and Conditions herein and other relevant disclosure documents, including but not limited to Spot FX Contract Product Disclosure Statement (PDS), Target Market Determination (TMD), FAQ, and other applicable disclosure documents.
You understand that the OneClick function involves you providing FX conversion instructions to Tiger Brokers Australia simultaneously with your product trading order instruction. The system will first complete the FX conversion to ensure the account has sufficient purchasing power in the required currency to meet trading and settlement requirements, and then place the product trading order.
You acknowledge and agree that the successful placement of a product trading order is contingent upon the successful completion of currency conversion. However, please note that even if the conversion is successful, the product trading order that is successfully placed (especially the limit orders) may not ultimately be executed due to market fluctuations.
You agree that Tiger Brokers Australia does not guarantee the execution of FX conversion or the subsequent product trades. The displayed exchange rates are indicative only. Due to the real-time market fluctuations, the final executed exchange rate may differ from the indicative rate, and the actual amount required to enter and settle the FX transaction may be less or more than the amount originally indicated. Tiger Brokers Australia shall not be held liable for any trade delays, failures, or any monetary or non-monetary losses resulting directly or indirectly from the use of the OneClick function feature. Clients shall understand and bear the risks associated with using this feature.