Using foreign currencies in your Schwab Global Account
Your Schwab Global Account is a multi-currency account that supports the use of 8 different currencies for trading directly on foreign exchanges.
Eligible Currencies
| Currency | Code |
|---|---|
| Australian dollar | AUD |
| British pound | GBP |
| Canadian dollar | CAD |
| Euro | EUR |
| Hong Kong dollar | HKD |
| Japanese yen | JPY |
| Norwegian krone | NOK |
| U.S. dollar | USD |
Currency Order Entry
Currency usage
- Equity trades on foreign exchanges must be paid for using the currency of the country where the foreign exchange resides.
- You can simultaneously hold any of the 8 currencies, in any amount, although currency balances do not earn interest.
- You can convert directly from one currency to another, in any combination.
- The ability to transact in foreign currencies was developed to support equities trading; the account was not designed to support the trading of currency pairs.
Transaction hours
Currency orders execute during global market hours, which are 6 p.m. Sunday through 5 p.m. Friday, ET.
- You can place orders at any time; orders are queued at Schwab from 5 p.m. Friday through 6 p.m. Sunday, ET.
- You can modify or cancel queued orders.
Currency order-entry page
To place currency orders in the global account, navigate to the “Trade” tab, and then select “Currency” from the sub-navigation menu.
0612-2732