Tap into FX market opportunities with Citi eFX. Conveniently buy and exchange foreign currencies at your preferred rates wherever you are, or use Order Watch to automatically convert currencies at your desired rates.
Online Foreign Exchange (eFX)
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Everything you need to know
- About Citi eFX
- Trade on Citi Mobile
- Real-time FX rates
- FAQ
What is Citibank eFX?
Our FX solutions are designed to help whether you're interested in exchanging travel money, investing in foreign currencies, or need to send money abroad. Instantly access foreign exchange rates with spot trades. Place limit orders to execute your trade when the exchange rate matches your desired rate with Order Watch. Access FX charts, polls, and receive rate alerts on-the-go.
Our platform lets you trade in Gold*, as well as across the following currencies:
- Get live-streaming FX rates and stay up to date with real-time alerts.
Instant execution through Market Orders or let our system monitor and execute for you by placing Order Watch (Limit Order and Stop-Limit Orders) for up to 30 days.
- Get notified immediately through email alerts when your preferred currency reaches the desired rate, and start trading.
Tap into analytical and rate alert tools to help you make informed decisions in managing your foreign currency accounts.
- Remit overseas to family members, friends, business partners or other Citi accounts globally without any hassle and worry about fluctuating exchange rates.
Set your desired foreign exchange rate with Order Watch and let eFX auto execute the order when the market rate matches your desired rate.
Why Do You Need eFX
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Lifestyle
-
Investment
-
Remittance (Sending Money Overseas)
Benefits Services
With Citi’s eFX,
you get to shop and pay in local currency at your desired locked-in rates.
Make transactions with certainty
Want to pay in foreign currency but afraid of steep exchange rates?
Exchange foreign currencies at attractive rates with Citi eFX, and settle point-of-sale or online payments with your Citibank Debit Card.
Benefits Services
Prevent currency exchange losses on your international investment portfolios by having your funds deposited into a foreign currency account. With Citi eFX, tap into analytical and rate alert tools to help you make informed decisions.
Order Watch
Never miss out on trade opportunities as we watch the markets for you.
With Citi eFX’s Order Watch, have your desired foreign currency purchased and executed automatically once your target rate is reached.
Charts & Technical Analysis
Be equipped with tools to help you make informed trading decisions.
FX charts and technical indicators provide you with insights to past historical FX levels and help you determine your take profit or stop-loss levels.
FX Polls
Interested to find out market expert commentaries on future FX movements?
With FX Polls, you can gain insights by viewing the market consensus of your preferred currencies.
Benefits Services
Witi Citi eFX, set your desired foreign exchange rate with Order Watch and let eFX auto execute the order when the market rate matches your desired rate. With the exchanged amount, remit overseas to family members, friends, business partners or other Citi accounts globally without any hassle and worry about fluctuating exchange rates.
Order Watch
Get more value for your remittances by avoiding fluctuating exchange rates.
With Citi eFX’s Order Watch, we will help you convert foreign currencies automatically when markets reach your desired rates.
Wire Transfers
Transfer funds around the world from Citi Mobile® App or via Citibank Online. Transfer fees apply.
Citi Global Transfer
Transfer funds instantly from your Citibank checking, savings or money market accounts to your Citibank accounts anywhere in the world.
Getting Started with Forex Services
- Watchlist
- FX Alerts
- Trade Order
Citibank Singapore Limited Foreign Exchange Rate
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All rates displayed above are inclusive of bank spread and are indicative and subject to change. Login to Citibank Online or the Citi Mobile® App to trade foreign exchange anytime. T&Cs apply. The foreign exchange market is volatile, and investing in foreign currencies can be risky. Commensurate with these risks is the potential for higher returns but also higher losses. Foreign currency investments are subject to rate fluctuations, which may provide both opportunities and risks. You may incur a loss when you convert foreign currency back to your home currency. Exchange controls may be applicable from time to time to certain foreign currencies. You should therefore determine whether any foreign currency investment is suitable for you in the light of your financial circumstances, needs and objectives.
- 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 by transferring to a Global Foreign Currency Account or Checking/Saving Account via Citibank Online.
- 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.
1. If you have an existing Global Foreign Currency Account that is in the same currency as your Overnight Deposit, you can transfer the balance in your Overnight Deposit account via "Payments and Transfers" in Citibank Online. Such transfer does not involve currency conversion.
2. If you do not have an existing Global Foreign Currency Account in a currency that is the same as your Overnight Deposit, you may choose to transfer the balance in your Overnight Deposit account by either using "Payments and Transfers" in Citibank Online or using eFX on the Citibank Mobile® App or Citibank Online. Please take note that such transfer involves currency conversion.
No, there is no administrative fee to open or maintain the Overnight Deposits account.
For Singapore customers:
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: Order Watch service is not available at the following timings:
- i. On weekdays (Mon to Fri), during system downtimes
- 11:00PM - 11:20PM
- 03:00AM - 07:00AM
- ii. On gazetted public holidays in Singapore or United Statesc
- iii. On days when commercial banks and FX markets are not open for business in the country of your selected trading currency
Spot Orders: Available 24 hours a day, including Saturdays and Sundays. On Saturdays and Sundays, no live rates are available.
Citibank eFX allows you to trade up to 15 different currencies:
- 1. USD United States Dollar
- 2. EUR Euro
- 3. JPY Japanese Dollar
- 4. GBP British Pound
- 5. SGD Singapore Dollar
- 6. HKD Hong Kong Dollar
- 7. AUD Australian Dollar
- 8. NZD New Zealand Dollar
- 9. CAD Canadian Dollar
- 10. CHF Swiss Franc Dollar
- 11. AED United Arab Emirates Dirham
- 12. DKK Danish Krone
- 13. NOK Norwegian Krone
- 14. SEK Swedish Krona
- 15. ZAR South African Rand
- 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 (Singapore Time) 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)
Minimum trade amount is US$1.00 and maximum trade amount is S$500,000.00 (per day limit)
Weekend (Sat – Sun)
Minimum trade amount is US$1.00 and maximum trade amount is US$25,000.00. Counter rates only.
eFX Order Watch (Limit):
Weekday (Mon – Fri)
Minimum trade amount is US$1.00 and maximum trade amount is S$500,000.00 (per day limit)
Weekend (Sat – Sun)
Minimum trade amount is US$10.00 and maximum trade amount is US$25,000.00. Counter rates only.
- 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 11pm) may only be valued in the morning after 9am. Accordingly, your funds may be unavailable until the corresponding holds are released after the limit orders are valued.
- Not directly. To make a withdrawal of your balance in the Overnight Deposits account, you will first need to transfer the balance to a Global Foreign Currency Account or Checking/Saving Account via Citibank Online. You will need to open a Global Foreign Currency Account or Checking/Saving Account if you do not have an existing account. Please note that withdrawal of SGD from Global Foreign Currency Account or Checking/Saving Account using local Citi ATMs will be subject to prevailing exchange rate. Foreign currency withdrawal is not available from local Citi ATMs.
- 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% – 1.5% 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 Order Watch (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
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Investments are: Not Bank Deposits • Not Bank Guaranteed • May Lose Value • Not FDIC Insured • Not Offered to US Persons • Subject to investment risks, including the possible loss of the principal amount invested
Deposit Insurance Scheme - Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
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1) Gold investments will be in Loco London Gold. All transactions will be made subject to the rules of the London Gold Market (provided that I will not be entitled to exercise any rights pursuant to such rules in conflict with these Terms and Conditions). The gold to be sold or purchased shall be of the specification acceptable on the London Gold Market. I understand that you will not make any physical delivery of gold to me at any time and I will not be permitted to make any physical deposit or withdrawal of gold to or from my gold account. I also understand that no wire transfer of gold to or from my gold account shall be permitted. Citibank Singapore Limited is acting as principal in buying or selling the currencies or Gold in my account
2) The price quoted for all sale and purchase transactions will take reference from the USD spot rates quoted by you to me from available quotations on Reuter’s screen GOFO page or such related screen as you reasonably deem equivalent (or if such rates are not available on those screens, at your reasonable discretion, such other quotation service or pricing method generally accepted by the market) and subject to the availability of a firm bid/offer price. I understand that any quote you provide may include a spread or markup. You will effect any transaction only on receipt of instructions from me or my authorized personnel. I understand that the final terms of all transactions will be subject to the terms contained in the Confirmation and that in any transaction, you may be acting as counterparty in addition to being an executing agent on my behalf.
3) You may reasonably refuse to accept instructions for the execution of any transaction and shall not be liable for any loss that may arise as a result thereof. You shall not be obliged to carry out any buy transaction hereunder unless I have first made available to you sufficient cleared funds to enable you to carry out such transactions, including but not limited to, sufficient cleared funds for the payment of the purchase price and related fees and charges.
4) I shall promptly reimburse you for all taxes imposed and levies charged in respect of or in connection with any contract or transaction and shall indemnify and hold you harmless against all such charges.
5) I understand that gold does not represent a deposit of money and such an investment is subject to certain risks. There is no yield or interest generated and a loss may be incurred due to fluctuations in its price. I understand that you will not be liable for any loss incurred on my part arising from termination of any transaction by you due to any Market Disruption Event or Additional Market Disruption Event as those terms are defined in the 1997 ISDA Bullion Definitions ("ISDA"), or from any settlement of the relevant gold contract made pursuant to the ISDA provisions relating to any Market Disruption Event or Additional Market Disruption Event.
6) "Terms and Conditions" refer to the Citibank Singapore Global Consumer Banking Terms and Conditions and defined terms used herein shall have the meaning set out in the Terms and Conditions. I accept and agree that the Terms and Conditions and the Gold Account Agreement shall govern the gold account.
The Gold Account Product Risk Rating is "2" and is described as “Conservative”. Citibank may collect your Investment Risk Profile. However, as transactions on Citibank Online or Citi Mobile® App are on a non-advised basis, no suitability checks will be performed and your Investment Risk Profile has no bearing on the products or services that will be made available to you on this platform.
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