Do you want your savings to be automatically converted into a currency that is considered profitable? HSBC Taiwan has launched a revolutionary service in the field of forex. This service allows HSBC Taiwan clients to set their expected foreign exchange rates (forex rates) within certain times or hours. After the desired value is reached, then, the amount of the balance in their account will be converted automatically to the specified currency. That said, this conversion service is almost similar to a pending order. On the other hand, if you also want to look for a properly regulated broker in Taiwan, then we recommend you to visit http://www.forextradingchina.com/en/taiwan/ immediately.
Steve Chuang, Vice President of HSBC Taiwan, said that the conversion service or what is called a forex order watch can also provide notification services to customers when the forex rate they want has been reached. Also, this service will work 24 hours a day, in line with the fluctuations in major currencies that keep changing every day in the market, said Chuang.
The movements of the Australian Dollar and Yen, for example, are very vulnerable to economic data from Australia, New Zealand, China, and Japan in the Asian trading session. Meanwhile, the euro and pound sterling will show more movement when the European session opens in the morning, or during the day in Taipei.
Therefore, Chuang said that the most critical trading hours in Taipei are either in the afternoon or at night. Namely when the ECB and the Fed release news or economic data updates. The HSBC Forex Order Watch also allows traders to set their exchange rates between two of the 10 currencies offered. The ten currencies include the US Dollar, Canadian Dollar, Euro, Pound Sterling, Hong Kong Dollar, Yen, Australian Dollar, New Zealand Dollar, Swiss Franc, and Singapore Dollar.
That’s it for the info that we can share with you on this article regarding forex in Taiwan. We hope this info can convince you to trade forex more often in Taiwan due to it’s regulated more strictly compared to some other countries in Asia.