Section 1 — Deposits: Three Ways to Obtain HKD
Q1. Do I need to hold HKD before I can trade Hong Kong stocks?
Not necessarily. There are two approaches, depending on whether you already hold HKD:
| Option 1: Cash Trading | Option 2: Margin Trading |
Requirement | HKD must already be held in the account | No prior HKD conversion required |
Funding source | Bank wire (HKD) / USD-to-HKD conversion / Stablecoin-to-HKD conversion | Account margin facility |
Cost | Currency conversion may involve exchange rate spread | Margin interest applies (currently 0% for a limited period — refer to the promotion terms for full details) |
If you wish to trade using your own cash (Option 1), the following three methods are available for obtaining HKD:
A. Stablecoin-to-HKD Conversion
Q2. Which stablecoins are supported?
USDT and USDC are supported. Once deposited, they are converted to HKD and credited to your account.
Q3. How long does it take to receive the funds?
There are two processing batches — Express and Standard:
• Fast: credited in near real time.
• Standard: generally credited within 24 hours. Processing may be delayed during Hong Kong or Singapore public holidays, subject to bank operating hours.
Q4. How is the exchange rate calculated? Can it change between submission and crediting?
The stablecoin-to-HKD exchange rate shown at the time of submission already includes the platform's applicable fee. The rate is locked at the point of submission for both batch types — provided the conversion is successfully processed, the amount displayed is the amount that will be credited. It will not change due to subsequent market movements.
Q5. I received an order failure message when submitting a Fast conversion. What does this mean?
This typically indicates that the Fast channel quota has been reached. Fast capacity is generally sufficient for most requests. If this message appears, you may switch to the Standard batch and resubmit.
B. Bank Wire Transfer (HKD)
Q6. Where can I find the receiving account details for HKD wire transfers?
The receiving entity is SGB. The receiving account is located in Bahrain.
Q7. Why do HKD wire transfers take 2 to 5 business days?
Because the receiving account is held in Bahrain, incoming transfers are processed via the international SWIFT network rather than local Hong Kong interbank channels. Funds must pass through one or more correspondent banks before being credited, which accounts for the 2–5 business day processing window.
Q8. Are there any fees for bank wire transfers?
BIT does not charge a platform fee for incoming wire transfers. Your account is credited based on the net amount actually received by our banking partner. However, your sending bank and any correspondent banks involved in the transfer may deduct their own charges in transit, meaning the amount received may be less than the amount remitted. BIT credits exactly the net amount received.
Q9. Is the payment reference (remittance memo) mandatory?
Yes, it is required. The reference string is your securities account identifier and is used by the system to automatically match and credit the incoming funds. If the reference is omitted or entered incorrectly, the transfer will require manual matching, which will significantly delay the crediting process.
Q10. My bank card only supports USD. Can I still use it to send HKD?
The supported currency of a bank card is set when you add the card. If your card is single-currency (e.g., USD only), the app will indicate that it does not support HKD when you initiate an HKD deposit. If you proceed regardless, the transfer may be rejected by your bank, and fees may be incurred. Please confirm your card's supported currencies before initiating the transfer.
Q11. I selected HKD as the currency, but actually remitted USD. Will the funds be returned?
Not necessarily. If the transfer is accepted, BIT credits the account in the currency actually received. If you need HKD for Hong Kong stock trading, you will need to convert the credited USD to HKD using the in-app currency conversion feature.
Q12. Can I change the supported currencies on my bank card?
The feature of modifying a card's supported currencies (for example, from single-currency to multi-currency) will be available in a future update. This functionality is not currently supported.
Q13. Are there other fiat funding options besides bank wire?
Fiat deposits and withdrawals currently support bank wire transfer only. Wire transfers are inherently slower than some alternatives. BIT plans to introduce faster funding options in future updates.
C. USD-to-HKD Currency Conversion
Q14. I already have USD in my account. Can I convert it directly to HKD?
Yes. Two-way conversion between USD and HKD is supported via the in-app currency conversion feature.
Q15. Is the conversion processed immediately?
No. This is a conversion request — it is submitted and processed in the normal course. The estimated completion time shown on the screen is indicative only and does not represent a commitment to a specific crediting time.
Q16. Is there a cost to converting currencies?
Yes — an exchange rate spread applies to USD-to-HKD conversion. If you are able to remit HKD directly via wire transfer, doing so avoids an additional conversion step and the associated spread.
Q17. Which entity provides the currency conversion service?
The service is provided by BIT OTC. This business operates in partnership with major global commercial banks and provides two-way fiat and digital asset funding channels.
Section 2 — Withdrawals
Q18. Is there a minimum withdrawal amount for HKD?
Yes. The minimum single withdrawal amount is HKD 1,250.
Q19. What is the withdrawal fee?
A flat fee of HKD 250 applies per withdrawal, displayed clearly before confirmation. Please note that if the receiving bank charges its own credit fee or the transfer passes through a correspondent bank that deducts charges, the actual amount received may be lower than the amount withdrawn. Total costs may therefore exceed HKD 250.
Q20. What withdrawal methods are available for HKD?
Fiat withdrawals currently support bank wire transfer only.
Section 3 — Common Issues and How to Resolve Them
Situation | Likely Cause | Recommended Action |
Stablecoin fast conversion order fails | Fast channel quota exhausted | Switch to the Standard batch and resubmit |
Standard batch not credited within 24 hours | Hong Kong or Singapore public holiday, or outside banking hours | Allow until the next banking business day; contact customer support if still unresolved |
Bank wire transfer not credited after an extended period | Payment reference omitted or entered incorrectly (requires manual matching), or public holiday | Contact customer support and provide the wire confirmation receipt; allow additional time if a public holiday is involved |
Amount received differs from amount sent | The sending bank and/or correspondent bank deducted their own fees | This is expected — BIT credits exactly the net amount received from the bank |
Currency received differs from the currency selected | HKD selected, but USD was actually remitted | Funds are credited in the currency actually received; use the in-app currency conversion feature to convert to HKD if needed |
Disclaimer: This service is only available to users in eligible jurisdictions and is not available to persons in Hong Kong or other restricted jurisdictions. Eligibility is subject to the user’s KYC information, account status and applicable laws and regulations in their jurisdiction.