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Fiat Convert FAQ

Updated

1. Which currencies can I exchange on UMX?

UMX accounts currently support two-way conversion between US Dollar (USD) and Hong Kong Dollar (HKD), so you can fund your trading in both the US and Hong Kong markets.
 


2. How do I convert currency?

  1. Log in to the UMX Trade App.
  2. Go to Assets → Securities.
  3. Tap Currency Conversion.
  4. Select the currency you want to convert from and to, then enter the amount.
  5. The page displays the indicative rate and the estimated change in your cash balances in real time.
  6. Review the details, tap Preview, and submit your order.


3. How is the exchange rate determined?

Your conversion is executed at the prevailing indicative rate shown at the time of your request.
Because the foreign exchange rate fluctuates continuously, the rate at which your order is ultimately filled may differ slightly from the rate displayed when you submitted it.
 


4. How long does a conversion take?

Conversions are expected to complete instantly.
 


5. When is the currency conversion service available?

Day
Service hours (UTC+8)
Monday – Friday (business days)
06:20 to 04:55 the following day
Saturday & Sunday
Not available
Please plan your conversions within the available hours.
 


6. Are there any limits on conversion amounts?

  • The converted amount of a single conversion must be at least 0.1.
  • The maximum converted amount: equivalent of USD 1,000,000 per conversion transaction.
*Important: This maximum is a total quota shared by all users on the platform, not a separate limit for each individual account. It is allocated on a first-come, first-served basis and conversions may be unavailable once the quota is used up.
 


7. Can I convert currency on weekends and public holidays?

  • Weekends (Saturday and Sunday): conversions are not supported. Please schedule your conversions accordingly.
  • Public holidays that fall on a business day (i.e. not a Saturday or Sunday): the currency conversion service operates as normal and is unaffected.


8. Can I deposit or withdraw HKD directly?

No. HKD can currently only be used to trade Hong Kong stocks. Direct HKD deposits and withdrawals are not supported.
  • To hold or use HKD for Hong Kong stock trading: convert USD into HKD through currency conversion.
  • To withdraw funds held in HKD: first convert the HKD back into USD through currency conversion, then submit USD withdrawal request.

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