1 Cash requirements for futures accounts
When opening a futures position: only check whether your buying power is sufficient, without checking your cash.
At the end of the trading day:
1) Cash balance of each currency ≥ 0; and
2) Cash amount of each currency ≥ maintaining margin for futures positions denominated in each currency;
Tiger Brokers will check the cash of your futures account at the end of the futures trading day. If the above limits are not met, it will initiate a currency conversion to adjust the cash to meet the requirements of Hong Kong Securities and Futures Commission (SFC) rule (Risk Management Guidelines for Licensed Persons Dealing in Futures Contracts).
Effective date: November 29, 2024
2 Auto currency conversion arrangements
Currency conversion time: Monday to Saturday, 4-5 am Hong Kong time.
Method: Tiger Brokers initiates on behalf of customers.
Fees: No additional charge.
3 Example:
Assuming that a futures account only has HKD, and a futures position denominated in USD is opened on Monday Hong Kong time. At this time, there will be a USD deficit in the account.
If the customer doesn't repay the debt on the same day, Tiger Brokers will conduct a "HKD-> USD" exchange around 4-5 am on Tuesday to ensure that there is enough USD in the account to pay the futures margin.
4 Tips:
How to check the cash in the futures account: Tiger Trade APP, "Portfolio" -> "Futures" -> "Account"
How to check the margin requirements for futures positions:
Tiger Trade APP, "Portfolio" -> "Futures" -> Click on the position contract name -> View contract information -> Long/Short margin
How to repay the loan / add margin in the futures account :
1) Transfer to the futures account: Tiger Trade APP, "Portfolio" -> "Futures" -> "Fund Transfer"
2) Exchange: Tiger Trade APP, "Portfolio" -> "Futures" -> "Exchange"