Due to daily mark-to-market, Futu will, after daily settlement, pay additional funds to the clearing house or similar institutions with respect to any open contract.
If you have available funds (cash + floating profit/loss - margin requirement) below zero in your account, and thus have insufficient settlement currency to pay any additional fund, your futures account will be charged interest.
Interest may be charged if:
1. positions are established with non-contracted currency;
2. losses are incurred when positions have not been closed out;
3. losses are incurred when positions have been closed out;
4. a higher margin requirement is demanded by the exchange or Futu.
The financing interest rate for each currency is as follows:
Currency | Financing Interest Rate |
USD | 4.80% |
HKD | 6.80% |
RMB (offshore) | 8.80% |
JPY | 2.80% |
Since the available funds balance is determined for each currency independently, Futu will not conduct currency conversions automatically.Clients are required to provide instructions for currency conversion to address any shortfalls if necessary. In addition, according to the rules of the Hong Kong Futures Exchange (HKFE) and the rules of HKFE Clearing Corporation (HKCC), if you hold a position in a contract of the HKFE and fail to meet a margin call or price adjustment request for two or more consecutive times, with the total amount involved exceeding HK$150,000, Futu reserves the right to exchange the currency in your account to avoid unnecessary interest charges.
Note: Actual interest charges shall be subject to the daily statements.