Track foreign exchange (FX) rates with automatic personalised investment alerts
18 Feb 2021

Never miss forex rates with smart FX trading alerts

How do you keep track of everything that's going on? Most of us have that tinge of regret when we miss out on the good stuff: a sale at our favourite luxury store, getting first dibs on the most sought-after new mobile phone launches, or even catching our ideal foreign exchange currency rate to make an investment.

For forex investments, where price movements necessitate close monitoring, getting the right exchange rate is a tricky affair. No one likes missing out on investment opportunities – that includes us!

That’s why if there was a way to be notified of your ideal FX rate, it would give you the assurance to take a breather from all the intense monitoring. Having this right on your smartphone, and with you most of the time, will be one of the best ways to stay on top of your currency investments and the rates you've been eyeing.

For precisely this reason, we’ve introduced this smart feature when you trade FX on DBS digibank. You won't need to do anything, except to turn on your push notifications. There's no need to set your own target prices or think about what levels you should be looking at, the app does all the monitoring work for you, and even tracks the currencies you’re interested in.

Getting timely forex price alerts on your FX investments

How does a wealth management app keep track of FX?

The FX trigger happens in a few ways:

a. When a currency appreciates by a certain percentage from your last investment

You’ll receive a push notification telling you that the currency has increased since you last invested in it.

Push notification when a currency increases from your last investment

b. When you’re particularly active in buying or selling an FX pair.

In this scenario, you'll receive push notifications on currency pairs you’re actively investing in within your app. If the rate is favourable, you’re just a tap away from executing the investment. This is one way to slowly accumulate your desired currency over a period of time at price points you are comfortable with.

Push notification when particularly active in buying or selling an FX pair

For example, if you have been buying Japanese Yen sporadically in preparation for a year-end ski holiday, a push notification will alert you of price movements on JPY.

Or if you’re looking at forex as an investment or need to send some extra pound sterling over to your daughter studying in the UK, this new feature makes things so much more convenient for you.

c. When a significant proportion of your assets are in a currency

The app looks at your currency holdings and begins triggering relevant alerts based on that.

If you're holding a significant amount of US Dollars for example, the app will be able to notify you if the currency moves in either direction.

d. When an occasion arises for you to rebalance your FX holdings

Most of us don't normally think about rebalancing in this manner, but there will be times when we hold too much of a currency.

When that happens, the app will let you know if it spots an opportunity for you to rebalance your currency holdings, even if you haven’t been looking at it recently.

e. When there is an opportunity to gain from a currency

The app tracks foreign currency movements, and lets you know how a currency you're holding has moved (e.g. to a two-week high).

It will then alert you of the move, and prompt you to consider an investment. It's then up to you to decide what you do next – you’ll only be a tap away from making the investment.

With the app, you'll also receive investment insights based on your holdings. For example, when you read a DBS Chief Investment Officer’s article on European Central Bank policy, the app will prompt you to manage your investments, including your FX holdings.

Know which currencies you can invest in

There are nine different currencies to choose from: Australian Dollar (AUD), Canadian Dollar (CAD), Chinese Renminbi (CNH), Euro (EUR), Sterling Pound (GBP), Hong Kong Dollar (HKD), Japanese Yen (JPY), US Dollar (USD) and Singapore Dollar (SGD).

The minimum transaction amount is S$100 (or equivalent) and the maximum is S$500,000 (or equivalent). The cut off time for same day settlement is 5pm (Singapore time). In the event where the Settlement Date is a non-business day, the Settlement Date will be on the following business day. The Settlement Date is the date on which a purchase or sale is settled.

Things to note about the currencies, transaction amounts, and cut-off time

Importance of keeping track of FX movements

There are two common reasons:

1. For currency investments

Buying and selling foreign currencies should form part of a diversified asset allocation strategy in any portfolio.

The app proactively alerts you of price points based on your holdings or activity, thereby giving you the opportunity to build – or reduce – your FX assets.

Having a diversified strategy is one way to spread your risk in a low growth, low interest rate environment.

2. To send money overseas

This is especially useful for parents who plan to send money over to their children, or pay for their tertiary school fees.

With the app, you'll never miss the chance to reduce the effective cost of your school fees or allowance in a foreign currency because of a better exchange rate.

Discover the power of digital banking with DBS digibank app

Never miss another opportunity. Staying updated with the latest movements in the FX market.

Harness the smarts of personalised FX alerts in digibank

Or get in touch for more smart, sophisticated wealth services.

Disclaimers and Important Notice

This article is for information only and should not be relied upon as financial advice. Any views, opinions or recommendation expressed in this article does not take into account the specific investment objectives, financial situation or particular needs of any particular person. Before making any decision to buy, sell or hold any investment or insurance product, you should seek advice from a financial adviser regarding its suitability. This article is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation.