Frequently asked questions

Mox currently supports the conversion between HKD, AUD, CAD, CNY, EUR, GBP, JPY, NZD, SGD and USD.

Mox believes that foreign exchange rates should always be fair and transparent. That’s why we are introducing the Mox FX rate, which is the mid-market rate that is the midpoint between the buy and sell prices of two currencies. Please note that the Mox FX rate does not cover any fees relating to the currency exchange transaction.

Mox charges a fixed percentage of the amount you are selling, which you can find in our ‘Fees and charges’ section in the Mox app and on our website. The exact amount of the fee that you will be charged will be shown on the Mox app before you conduct the foreign exchange.

However, if you are exchanging a small amount of money where this percentage fee ends up being smaller than the minimum unit of the selling currency, we will charge you the minimum unit as the fee for that foreign exchange.

Yes! Mox offers instant foreign exchange 24/ 7, so you can exchange your money whenever you want.

A Recurring Order is a feature in the Mox app that allows you to instruct us to carry out recurring currency exchanges. We will process each currency exchange under a Recurring Order automatically until the expiry date of the Recurring Order (if any).

You can do up to 50 foreign exchange transactions among any currencies we offer every day.

You will receive an email and a push notification (if enabled) when a currency exchange under a Recurring Order or a Conditional Order has been carried out.

Please enable push notifications in your Mox app so that you can receive push notifications as well.

The maximum amount of currency you can receive in a single currency transaction is USD10,000 (or its equivalent).

The amount you can sell in a single transaction must be higher than our minimum fee for currency exchanges, which is the minimum unit of selling currency or USD 0.01 (or its equivalent), whichever is higher.

You may incur losses as a result of carrying out currency exchanges on the Mox app, including as a result of exchange rate fluctuations. Please ensure that are aware of and understand these risks before carrying out any currency exchanges on the Mox app.

By carrying out currency exchanges on the Mox app, you acknowledge that you are carrying out such currency exchanges entirely for your own account and at your own risk.

Yes – at any one time:

• You can have up to 10 active Recurring Orders; and
• You can have up to 10 active Target Price Orders.

There is no fee for setting up a currency exchange order itself.

However, for the actual currency exchange carried out pursuant to a Recurring Order or a Target Price Order, we will charge an FX Fee on the amount you are selling, as described in the Mox app and on our website. You can see the exact amount of the FX Fee you have been charged in the Mox app after we carry out the relevant currency exchange.

Please note, the FX Fee for a particular currency pair is subject to change. This means that the FX Fee charged for one currency exchange transaction under a currency exchange order may be different to the fee charged for another currency exchange transaction. We will apply the prevailing fees and charges at the time the relevant currency exchange is carried out.

We will charge a fixed percentage of the amount you are selling, as described in our ‘Fees and Charges’ section in the Mox app and on our website. Unless we are carrying out a currency exchange under a Recurring Order, we will show you the exact amount of the fee that we will charge, on the Mox app, before we carry out currency exchange.

However, if you are exchanging a small amount of money where this percentage fee ends up being less than the smallest denomination of the selling currency (e.g. 1 cent, 1 pence etc.), we will charge you the smallest denomination of the selling currency as the fee for that currency exchange.

A price alert is an alert sent to your email and via push notification (if enabled) letting you know that the exchange rate for a particular currency pair has met certain criteria that you have set in the Mox app (for example, the exchange rate for a particular currency pair has reached your specified rate).

Price alerts are supported by market data that is made available by Morningstar and subject to the following disclaimer:

© 2024 Morningstar. All Rights Reserved. The information, data, analyses and opinions (“Information”) contained herein: (1) include the proprietary information of Morningstar; (2) may not be copied or redistributed; (3) do not constitute investment advice; (4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

The English version prevails if there is any inconsistency between the English and Chinese versions of the above disclaimer.

A Conditional Order is a feature in the Mox app that allows you to instruct us to carry out a currency exchange upon the satisfaction of a particular condition.

You can currently set up the following type of Conditional Order:

• Target Price Order - you to instruct us to carry out a currency exchange to buy or sell a particular currency when that currency has reached a specified rate. We will automatically process the currency exchange under a Target Price Order once the specified rate for the currency that you wish to buy or sell has been reached.