Transactional FX Guide
Transactional FX allows you to convert money from one currency to another using real-time market rates through Zoqq APIs.
It helps you manage multi-currency balances and reduce currency risk when moving funds across currencies.
What You Can Do with Transactional FX
Using Transactional FX APIs, you can:
- Get FX rates for currency conversion
- Create a currency conversion
- Lock a rate for a short validity period
- Cancel a conversion before settlement
- Convert funds and hold them in your wallet
- Convert funds and use them for payouts
Operations
> GET {{baseUrl}}/zoqq/api/v1/transfer/rate
> POST {{baseUrl}}/zoqq/api/v1/transfer/quote
> GET {{baseUrl}}/zoqq/api/v1/transfer/quotedetails
> POST {{baseUrl}}/zoqq/api/v1/transfer/conversion
> GET {{baseUrl}}/zoqq/api/v1/transfer/conversion/:ConversionID
> GET {{baseUrl}}/zoqq/api/v1/transfer/conversionlist
How Transactional FX Works
- You request an FX rate for a currency pair
- Zoqq returns the best available market rate
- You confirm the conversion
- Funds are converted and settled based on your funding setup
All FX operations are available 24×7, including weekends and holidays.
Key Features
- Live FX pricing available at all times
- Competitive market rates
- Support for a wide range of currencies
- Simple API-based integration
- Works seamlessly with Accounts and Payouts
FX Conversion Options
You can choose how you want to convert funds:
- Instant conversion : Convert at the current market rate
- Rate with validity : Lock a rate for a short time before confirming
- Cancel conversion : Cancel a booked conversion before settlement
Supported Currencies
Zoqq supports nearly 1,000 currency pairs across 60+ trade currencies.
Amounts are rounded based on ISO 4217 currency decimals.
| Currency Code | Country | Buy | Sell | Pure Conversion (Hold in Wallet) | Convert + Payout |
|---|---|---|---|---|---|
| AUD | Australia | ✔ | ✔ | ✔ | ✔ |
| CNY | China | ✔ | ✔ | ✔ | ✔ |
| USD | United States | ✔ | ✔ | ✔ | ✔ |
| HKD | Hong Kong | ✔ | ✔ | ✔ | ✔ |
| EUR | Eurozone | ✔ | ✔ | ✔ | ✔ |
| GBP | United Kingdom | ✔ | ✔ | ✔ | ✔ |
| CAD | Canada | ✔ | ✔ | ✔ | ✔ |
| SGD | Singapore | ✔ | ✔ | ✔ | ✔ |
| CHF | Switzerland | ✔ | ✔ | ✔ | ✔ |
| NZD | New Zealand | ✔ | ✔ | ✔ | ✔ |
| JPY | Japan | ✔ | ✔ | ✔ | ✔ |
| THB | Thailand | ✔ | ✔ | ✔ | ✔ |
| SEK | Sweden | ✔ | ✔ | ✔ | ✔ |
| NOK | Norway | ✔ | ✔ | ✔ | ✔ |
| DKK | Denmark | ✔ | ✔ | ✔ | ✔ |
| HUF | Hungary | ✔ | ✔ | ✔ | ✔ |
| CZK | Czech Republic | ✔ | ✔ | ✔ | ✔ |
| PLN | Poland | ✔ | ✔ | ✔ | ✔ |
| RON | Romania | ✔ | ✔ | ✔ | ✔ |
| IDR | Indonesia | ✔ | ✔* (CN & HK customers only) | ✔ | |
| MYR | Malaysia | ✔ | ✔* (MY customers only) | ✔ | |
| PHP | Philippines | ✔ | ✔ | ||
| TRY | Turkey | ✔ | ✔ | ||
| INR | India | ✔ | ✔ | ||
| VND | Vietnam | ✔ | ✔ | ||
| KRW | Korea, Republic of | ✔ | ✔ | ✔ | ✔ |
| BDT | Bangladesh | ✔ | ✔ | ||
| LKR | Sri Lanka | ✔ | ✔ | ||
| NPR | Nepal | ✔ | ✔ | ||
| PKR | Pakistan | ✔ | ✔ | ||
| MXN | Mexico | ✔ | ✔ | ✔ | ✔ |
| ILS | Israel | ✔ | ✔ | ✔ | ✔ |
| ZAR | South Africa | ✔ | ✔ | ✔ | ✔ |
| BHD | Bahrain | ✔* (CN & HK customers only) | ✔ | ||
| EGP | Egypt | ✔ | ✔ | ||
| AED | United Arab Emirates | ✔ | ✔* | ✔* (Excluding customers in UAE) | ✔ |
| SAR | Saudi Arabia | ✔ | ✔ | ||
| MAD | Morocco | ✔ | ✔ | ||
| CLP | Chile | ✔ | ✔ | ||
| ARS | Argentina | ✔ | ✔ | ||
| BRL | Brazil | ✔ | ✔ | ||
| COP | Colombia | ✔ | ✔ | ||
| BOB | Bolivia | ✔ | ✔ | ||
| PEN | Peru | ✔ | ✔ | ||
| UYU | Uruguay | ✔ | ✔ | ||
| AOA | Angola | ✔ | ✔ | ||
| BGN | Bulgaria | ✔ | ✔ | ||
| LSL | Lesotho | ✔ | ✔ | ||
| MGA | Madagascar | ✔ | ✔ | ||
| MWK | Malawi | ✔ | ✔ | ||
| NAD | Namibia | ✔ | ✔ | ||
| NGN | Nigeria | ✔ | ✔ | ||
| RWF | Rwanda | ✔ | ✔ | ||
| XOF | West Africa | ✔ | ✔ | ||
| BWP | Botswana | ✔ | ✔ | ||
| GMD | Gambia | ✔ | ✔ | ||
| KES | Kenya | ✔ | ✔ | ||
| PYG | Paraguay | ✔ | ✔ | ||
| ZMW | Zambia | ✔ | ✔ | ||
| XAF | Equatorial Guinea | ✔ |
Funding and Settlement Models
Your account follows one of the below models. This affects when funds are deducted and credited.
Pre-Funding Model
- You must have sufficient balance before conversion
- Funds are deducted immediately
- Settlement is usually same-day
Best for: controlled balance usage
Post-Funding Model
- Conversions can be booked without balance
- A limit is assigned to your account
- Settlement happens later based on balance availability
Best for: higher flexibility
Settlement Timing
When creating a conversion, you can choose a conversion date.
If no date is selected:
Pre-Funding
- Conversion settles immediately
Post-Funding
- Same-day if balance is available
- Otherwise, next business day
If balance is still insufficient on the conversion date:
- Settlement is retried automatically
- Additional fees may apply
Settlement Rules
Conversions are settled based on:
- Earliest conversion date with sufficient balance
- Earliest created request
Settlement retries happen every 30 minutes.
Value Date Table
| Value Date | Sell Currency (Pre-funding) | Buy Currency (Pre-funding) | Sell Currency (Post-funding) | Buy Currency (Post-funding) |
|---|---|---|---|---|
| Same-day | Immediately deducted | Immediately funded | Immediately deducted | Immediately funded |
| Future-dated | Immediately deducted | Funded at 9am on conversion date | Deducted at 9am on conversion date | Funded upon deduction |
Time Zones
Your account operates in a fixed time zone based on the Zoqq entity you are onboarded with.
Examples:
| Entity | Time Zone | UTC (STD/DST) |
|---|---|---|
| NZ | Pacific/Auckland | UTC +12/+13 |
| AU | Australia/Melbourne | UTC +10/+11 |
| HK | Asia/Hong Kong | UTC +8 |
| SG | Asia/Singapore | UTC +8 |
| MY | Asia/Kuala Lumpur | UTC +8 |
| NL | Europe/Amsterdam | UTC +1/+2 |
| LT | Europe/Vilnius | UTC +2/+3 |
| UK | Europe/London | UTC +0/+1 |
| JP | Asia/Tokyo | UTC +9 |
| CA | America/Toronto | UTC -5/-4 |
| US | America/Los Angeles | UTC -8/-7 |
All timestamps in API responses follow this time zone.
When to Use Transactional FX
Use Transactional FX when you need to:
- Convert funds between currencies
- Manage multi-currency balances
- Prepare funds for payouts in another currency
- Reduce exposure to FX rate changes
Important Notes
- FX availability depends on currency and region
- Some currencies have additional restrictions
- Cancelled conversions are not settled
- Funding model affects settlement timing
- Always check supported currencies before conversion