The Tiger Trade app is a multi-currency account. You’re able to hold multiple currencies in your account - USD, NZD, AUD, HKD, XCXNH, SGD, EUR, JPY and GBP. As a result, we can not designate the conversion currency to USD only.
If we automatically exchange the currency to USD after you make a deposit, then you may pay another currency exchange fee to convert USD to AUD if you were to trade on the Australian market.
By not automatically exchanging your currency, this gives you the freedom to exchange your funds when it suits you and at your discretion.
For some clients, margin financing may be a cheaper option than exchanging their currency, particularly when trading for shorter periods of time.