FOREIGN EXCHANGE(FX) TRADING SERVICES

Online Foreign Exchange (eFX)

now available on the Citi Mobile® app
and Citibank Online

Forex Trading

Online Foreign Exchange (eFX) trading gives you an opportunity to diversify your portfolio, while maintaining liquidity in foreign currencies. Citi's eFX trading platform allows you to trade in these 10 currencies: SGD, USD, EUR, GBP, NZD, HKD, CAD, AUD, CHF, and JPY.

Existing Clients :

TRADE NOW

Need a Foreign Currency Account?

SIGN UP NOW

Existing Clients :

TRADE NOW

Need a Foreign Currency Account?

SIGN UP NOW

Existing Clients :

TRADE NOW

Need a Foreign Currency Account?

SIGN UP NOW

Find out how you can access Citibank eFX with our video below.


FX trading at your fingertips. Now available on Citibank Online and Citi Mobile® app.

Personalised Watchlist

Set up your own Watchlist with up to 20 currency pairs
Live-streaming view of your favourite and recently viewed currencies, all in one page.

FX Trading

Live-streaming FX Rates

60-second lock-in on any FX rate you see.
Each rate that you see is a real-time offer that you can instantly secure.

Trading Service

Auto-executed Orders

Limit Orders and Stop-Limit Orders
You can set up a preferred FX rate at which the Buy or Sell Order will be automatically executed.

Citi Mobile App

Real-time Alerts

Timely and Customisable alerts
Choose the currency pairs, set your target FX rates, and receive SMS or Email alerts when markets hit your desired FX rates.

Foreign Exchange Trading

FAQ

Click on    to expand and on    to minimise the details.

Citibank eFX is an online platform that allows you to convert funds within your Citibank accounts into different foreign currencies.

You will need to open a Global Foreign Currency Account for the foreign currencies that you would like to trade in. Alternatively, you can apply for an Overnight Deposit which serves as a deposit facility to store your foreign currencies.

Customers should be mindful of the regulations in their country of domicile with regards to engaging in FX transactions. Citibank eFX is made available to customers on a non-solicited basis.

The Overnight Deposit is a deposit facility to store multiple currencies. This facility offers convenience to customers without a Global Foreign Currency Account by providing a debiting/crediting option for foreign currency transactions.

While the Overnight Deposit can be used for debiting or crediting purposes during an investment transaction or via Citi Online Foreign Exchange (eFX), it is not a transactional account and cannot be used for cash withdrawals, debit card payments or remittances. Balances in the Overnight Deposit may be non-interest bearing and can only be withdrawn via verbal instruction passed on to a CitiPhone Officer or Branch personnel.

Overnight Deposits are opened upon request when customers transact in Investment Products such as Time Deposit, Premium Account, Unit Trust, Portfolio Finance, etc.

Yes. You can select the Overnight Deposits account as the source of funds/debit account.

  • Instruct your Relationship Manager via a phone instruction after performing the necessary verification
  • Face-to-face instruction with a bank officer at a Citibank branch
  • Call the CitiPhone hotline at +65 6225 5225

No, there is no administrative fee to open or maintain the Overnight Deposits account.

  1. Citibank Online
    This online service is available 24/7. Simply logon to www.citibank.com.sg to access Citibank eFX.
  2. Citi Mobile® App
    Trade and track your portfolio on the go! To do so, you will first need to download the Citi Mobile® App from your Apple App or Google Play stores before logging in.
  1. Click here to apply for a Citibank Global Foreign Currency Account.
  2. Register for Internet Banking on Citibank Online or on the Citi Mobile® App.

The FX market is not traded on a regulated exchange like stocks and commodities, but rather a network of financial institutions and retail brokers. The FX market is available for trading 24 hours a day, five days per week.

Limit Orders: FX OrderWatch service will not be available during the following times:

  • Monday - Friday: 00:00am – 05:15am, 11:00pm – 11:59pm
  • All day on Saturdays and Sundays

Spot Orders: The maximum transaction limits for Spot Orders are:

  • Monday 00:00am – Friday 11:59pm: US$3,000,000
  • Saturday 00:00am – Sunday 11:59pm: US$25,000

Citibank eFX allows you to trade up to 10 different currencies:

  • USD   United States Dollar
  • EUR   Euro
  • JPY   Japanese Dollar
  • GBP   British Pound
  • SGD   Singapore Dollar
  • HKD   Hong Kong Dollar
  • AUD   Australian Dollar
  • NZD   New Zealand Dollar
  • CAD   Canadian Dollar
  • CHF   Swiss Franc Dollar

You can place a Market Order, Limit Order or Stop-Limit Order.

A Market Order or commonly known as a spot transaction, allows you to place a buy or sell order at the current market price. Settlement is immediate and the currency purchased will be credited into your account immediately.

A Limit Order is an instruction to buy or sell a currency at a price you specify. The order will only be executed when the prevailing market price reaches your specified price. It allows you to monitor the market and wait for your preferred pricing in a volatile market.

A Stop-Limit Order is executed when a specified target rate is achieved for the purpose of cutting loss or entry upon conditions being met. A Stop-Limit Order is only executed at the next traded price from the specified target rate.

For FX OrderWatch (Limit and Stop-Limit Orders), instructions placed will expire if the orders are not filled before the expiry date.

For a Limit Order placed in Citibank eFX - OrderWatch, funds corresponding to the value of your Limit Order will be set aside and held in your debit account (“Hold Balance”). The Hold Balance will be maintained for the duration of the Limit Order and will be released after the order is executed, expired or deleted.

During this time, you will continue to earn interest on the Hold Balance if your debit account is an interest-bearing account. However, you will not be able to access or withdraw your Hold Balance until the hold is released.

Buy Limit Order is placed at or below the current market price.
Sell Limit Order is placed at or above the current market price.

Buy Stop-Limit Order is placed at or above the current market. price.
Sell Stop-Limit Order is placed at or below the current market price.

Sell Stop-Limit Order allows you to create a “floor” for your position to limit losses. For example, the current market rate for USD/SGD is 1.42 and a stop-limit order is placed at 1.40. The order is triggered when USD/SGD falls to 1.40 and becomes a market order that is executed.

In comparison, if a Sell Limit Order is used instead for the same purpose (Order placed at 1.40 when prevailing USD/SGD is 1.42), the Sell Limit Order will be executed instantly at 1.42 since the current market price is above the target price.

You have the option of setting the expiry period for 24 hours, a week or a month (calendar days). All orders will expire at 9.00am on the expiry date.

If you would like to continue with a lapsed order, you will need to submit a new order.

eFX Market Order (Spot):
Weekday (Mon - Fri, 00:00am – 11:59pm)
Minimum trade amount is US$1.00 and maximum trade amount is US$3,000,000.00. Live and counter rates available (live rates available if above US$25,000).

Weekend "Weekend Mode" (Sat – Sun, 00:00am – 11:59pm)
Minimum trade amount is US$1.00 and maximum trade amount is US$25,000.00. Counter rates only.
eFX Order Watch (Limit):
Weekday "Day Mode" (Mon – Fri, 05:16am – 10:59pm)
Minimum trade amount is US$500.00 and maximum trade amount is US$3,000,000.00. Live and counter rates available (live rates available if above US$25,000).

Weekday "Night Mode" (Mon – Fri, 11:00pm – 05:15am) /
Weekend "Weekend Mode" (Sat – Sun, 00:00am – 11:59pm)
During Night and Weekend Mode, no new orders will be accepted due to regular system maintenance and end-day processing activities. Deletion or modification of outstanding orders, are also not permitted.

For Market Orders, upon your trade confirmation, the currency sold will be debited from your account and the new currency purchased will be credited into your Global Foreign Currency account or a new Overnight Deposits account. Limit and Stop-Limit orders are only triggered and fulfilled when the target price has been met.

Please note that orders which are executed during Night Mode (after 11:00pm) may only be valued in the morning after 09:00am. Accordingly, your funds may be unavailable until the corresponding holds are released after the limit orders are valued.

Not directly. To make a withdrawal or transfer of your balance in the Overnight Deposits account, you will first need to open a Global Foreign Currency account in the denominated foreign currency. Thereafter, you can instruct your Relationship Manager to transfer the balance from your Overnight Deposits account into your Global Foreign Currency account, and withdraw from the Global Foreign Currency account.

There are no transaction fees charged but the executed FX rate will be the customer "All in Rate", which is different from the prevailing interbank market rate at the time of the execution as it includes a Bank spread ranging from 0.10% – 1.20% determined by the Bank in its discretion according to the amount placed. For amounts above US$3,000,000, please contact your Relationship Manager directly or call the Treasury Hotline +65 6334 2688.

Yes. eFX transactions will appear in the respective debit and credit account in your monthly statement.

Yes. The Overnight Deposits account will appear in your monthly statement. It is segmented into the different currencies which you hold.

For Market Orders and OrderWatch(Limit and Stop-Limit Orders), these accounts can be used:

  • Debit Checking/Saving to Credit Checking/Saving
  • Debit Checking/Saving to Credit Overnight Deposits and vice versa
  • Debit Overnight Deposits to Credit Overnight Deposits
  • Log on to Citibank Online www.citibank.com.sg

  • Under the Wealth Management tab, select “FX Trading”

  • Enter the One-Time PIN (OTP) displayed on your Online Security Device or request for a OTP via SMS

  • You will be greeted with your Watchlist (landing page). By default, these 5 currencies will be displayed.

  • Under “Watchlist” tab, click on ‘Add New Currency Pair’. Up to 20 currency pairs can be added to your watchlist.

  • Search for your currency pair in the textbox or scroll through the list of currencies.

  • New currency pair AUD/SGD is added to the list.

  • Under “Watchlist” tab, click on Edit Watchlist

  • Drag and drop the currency pairs to re-arrange. Click on ‘Save Watch list’ when done.

  • AUD/USD has been rearranged from the top to the bottom.

  • Under ‘Trade FX’ tab, select your buy/sell currency pair.

  • Select ‘Market Order’ for the order type.

  • Input your trade details

    1. Select your Debit and Credit account

    2. Indicate the amount you would like to convert in base or foreign currency

  • Verify your trade details and confirm the trade before the countdown timer expires. The rate displayed is only valid for 60 seconds.

  • Trade confirmation that the FX conversion is successful.

  • Under ‘Trade FX’ tab, select your buy/sell currency pair.

  • Select ‘Order Watch’ -> Limit or Stop-Limit for the order type.

  • Input your trade details

    1. Select your Debit and Credit account

    2. Indicate the amount you would like to convert in base or foreign currency

    3. Input your desired target rate

    4. Select your expiry date

  • Under “FX Alerts” tab, you can set alert preferences: Select the relevant Alert Channels. You can choose to receive the message via email and/or SMS. Click on ‘Save’ once you’re done.

    1. Rate Alert – Receive alerts when the market rate reaches the designated buy/sell alert rate

    2. Trade Confirmation Alert – Receive alerts when the Market order is executed

    3. Order Watch Expiration – Receive alerts when the Limit / Stop-Limit order has expired.

    4. Order Watch Execution – Receive alerts when the Limit / Stop-Limit order is executed.

  • To create a new FX alert, click on ‘Set up Rate Alert’

  • Scroll down to select your preferred currency pair or search using the text field. Click on ‘Add’

  • Input your preferred buy/sell alert rate and select an expiry date. Click on ‘Save’

  • Receive confirmation that your new FX Alert has been successfully set up. To continue setting up new FX Alerts, select ‘Set Up New’.

  • Under “Order History” tab, select your account from the dropdown list to view your transaction history. Click on ‘Details’ to view more information.

  • Upon clicking on ‘Details’, the Order Details screen will appear.

  • Under "Order History" tab, select your account from the dropdown list to first view your transaction history. Click on "Modify"

  • Input the new Target Rate and Select a new Expiration Date.

  • Verify your new Order Details and confirm changes.

  • Receive confirmation of the changes. Click “Trade Again” to place another trade or “Back to Orders” to return to “Order History” tab.

  • Under "Portfolio" tab, a snapshot of all your Checking, Savings and Overnight Deposits accounts will be displayed. To view more information about each account, click on the account number or 'Order History

  • When you click on either the account number or 'Order History', your transaction history will be displayed. Outstanding orders will also be displayed and you can modify or delete your order.

DisclaimerDisclaimer

The above examples and screenshots are hypothetical and provided for illustrative purpose only. The scenarios are not based on the past performances of foreign currencies. Citibank is not making any prediction of future movements in foreign currencies by virtue of providing the illustrative examples. It does not represent all possible outcomes or describe all possible factors that may affect the payout of a transaction in Citibank eFX.

Any customers using Citibank eFX acknowledge and accept that all transactions they make are made solely upon their judgment and at their discretion and own risk. Nothing in Citibank’s brochures, investment reports and/or any of Citibank’s material supplied to the customer, nor any customer investment profiling conducted for the customer, shall be construed as Citibank’s investment advice as regards the relative attractiveness of one investment option over another. Investors investing in investment and/or treasury products denominated in non-local currency should be aware of the risks of exchange rate fluctuations that may cause a loss of principal when foreign currency is converted back to the investors' home currency. Foreign currency trading is subject to rate fluctuations, which may provide both opportunities and risks. Customers who have any questions about their legal or tax positions as a result of opening an account with Citibank or effecting any transaction on an account with Citibank should engage an independent legal or tax adviser as they consider appropriate.

Exchange controls may apply from time to time to certain foreign currencies. Our Treasury Services Managers and Relationship Managers may assist customers with information on any exchange controls that are relevant to the currencies in which they invest. Placing contingent orders, such as “stop loss” or “stop limit” orders, will not necessarily limit losses to the intended amounts. Market conditions may make it impossible to execute such orders.

Citibank's full disclaimers, terms and conditions apply to individual products and banking services. This communication does not constitute the distribution of any information or the making of any offer of solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute such document or to make any offer or solicitation.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. For more information, please visit www.sdic.org.sg.