This Api will convert money from one currency to another using spot FX rates, and upon success, returns the details of the created conversion.
If you get a FX rate (fx_rate_id) previously from the Get FX Rate API you can use that for conversion. If fx_rate_id is not provided then the platform will use the live rate for the conversion.
Most of the conversions gets completed within 2 minutes or less however since Finmo uses live rates, if the FX booking is not done due to non-trading days then the conversion will not be carried instantly. Finmo will provide the webhook notification (FX_CONVERSION_COMPLETE) for the same.
Finmo does not support cancellation of FX conversion at the moment. Our platform works based on a good funds model and will always check the balance in source currency before it progresses further, secondly for cancellation to work it would be based on spot rates and the FX rates would be different and could result in a loss to you.