FX Retail

What’s in store for you

FX Retail

Benefits of FX-Retail

Accessibility

This electronic rate booking platform is available for the following: 

  • Individual customers

  • Businesses

  • Trusts 

  • Cooperative banks

  • Foreign Portfolio Investors

  • Foreign Institutional Investors

Accessibility

Flexibility of Delivery

FX-Retail shows current SPOT rates in the inter-bank market. You can book for:

  • CASH (same-day delivery)

  • TOM (next forex working day delivery)

  • SPOT (second forex working day delivery) 

Flexibility of Delivery

Convenience & Limits

  • Flexible Order Placement: Customers can place trades whenever it suits them, offering flexibility. You can currently place orders for USD/INR currency pairs only.

  • Transaction Limit:

    • There's no limit on the number of transactions per customer daily. However, HDFC Bank sets a total transaction limit. Also, CCIL doesn't charge transaction fees up to $50,000 per day.

    • FX-Retail is designed to simplify foreign exchange transactions for retail customers, making it easier to manage and execute forex trades electronically.

Convenience & Limits

How to Register?

  • To register for FX-Retail, follow these steps:
  • Visit the website www.fxretail.co.in. 
  • Enter the name of your Relationship Bank during the registration process.
  • After registration, your details will be sent to the Relationship Bank you specified for verification and approval.
  • Once approved, you will receive your login credentials (ID and password) to access the FX-Retail platform.
  • Before registering, it is suggested to contact your Relationship Manager to understand the terms and conditions associated with FX-Retail. This ensures you clearly understand how the platform works and any requirements or limitations that may apply to your transactions.

More About FX-Retail

The Retail-FX platform was created by ClearCorp Dealing Systems (India) Ltd., wholly owned by CCIL. It started operating on August 5, 2019, and HDFC bank customers can access it through the website https://www.fxretail.co.in.

FX-Retail allows customers to book foreign exchange rates electronically for their currency needs. The aim is to provide an online space where retail customers can match their forex orders anonymously and automatically.

Registration Charges
Individual ₹300*
Non-Individuals ₹1000*
Transaction Charges
Up to $50,000 in a day ₹0 (No Charges)
Above $50,000 in a day 0.0004% on the entire transaction value in ₹

*GST is applicable on the above charges

Note:

  • The above charges are levied by CCIL and are collected by HDFC Bank for usage of the FX-Retail platform.
  • Charges levied by the HDFC Bank for registration and transaction processing shall additionally apply, wherever applicable.
  • Interested customers can obtain further details about the FX-Retail platform on the CCIL website (https://www.ccilindia.’com/AboutUs/Pages/FxRetailPlatform.aspx)

*The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.

Frequently Asked Questions

FX Retail is an innovative electronic platform that allows retail customers to book forex rates for their FX requirements. It is accessible to Individuals, Corporates, Trusts, Cooperative Banks, Foreign Portfolio Investors, Foreign Institutional Investors etc. Launched by ClearCorp, it simplifies the process of fulfilling foreign exchange requirements.

 Customers log into the FX Retail platform and enter their FX requirements. The system then matches their orders anonymously. It’s a seamless process that ensures competitive rates and efficient transactions.

FX trading offers opportunities for diversification and potential profit in fluctuating markets. However, it’s essential to understand the risks and have a solid strategy in place. 

FX Retail provides transparency, access to competitive forex rates, and the convenience of booking transactions electronically. These benefits make it a valuable tool for managing currency needs.

For HDFC Bank FX Retail services, the fee structure includes both registration charges and transaction charges. Individual customers must pay a registration fee of ₹300, while non-individuals, such as corporations, are charged ₹1,000 for registration.

There are no fees for transactions up to USD 50,000 in a single day. For transactions exceeding USD 50,000, a fee of 0.0004% is levied on the total transaction value in Indian Rupees (INR). This fee structure ensures that customers can manage smaller transactions without incurring additional costs, while larger transactions are subject to a minimal percentage-based charge to cover processing and exchange costs.