FX Retail

BSE-NSE-web Portlet

FX Retail

Reserve Bank of India (RBI) through Clearing Corporation of India Ltd (CCIL) has rolled out ‘FX-Retail’, an electronic trading platform for buying or selling foreign exchange by retail customers of Banks.
FX-Retail provides for an anonymous and order driven dealing for Retail Customers wherein they can place orders in USD/INR currency pair.

  • FX-Retail platform
  • Features and Benefits
  • How to register for FX-Retail
  • Transaction Process
  • Charges

FX-Retail platform can be accessed by any customer of the bank (through the website https://www.fxretail.co.in) who can purchase or sell US Dollar against Rupee for delivery on ‘cash basis’ (on the same day), ‘tom basis’ (the next day) or ‘spot basis’ (two days after date of transaction) and forwards (up to 13 Months), subject to the following :

  • There is no cap on the number of transactions per customer during a day. The total amount of transactions of a customer shall be subject to the limit assigned by the bank. Further, the transaction charges levied by CCIL are waived off for transactions up to USD 50,000 per day.
  • The size of a single transaction shall not exceed $5 million.
  • Access to all customers
  • Enables transactions across various categories such as Individuals, Corporates, Trusts, Cooperative Banks, Foreign Portfolio Investors, Foreign Institutional Investors etc. and provides the benefit of placing the trades at the customer’s time and convenience. Customers can currently place orders for USD/INR currency pair only.

For further details about the platform, customer can visit the CCIL website https://www.ccilindia.com

  • Visit the website www.fxretail.co.in
  • Click on ‘Register Here button’ and complete the registration process by providing the required information including your bank account details
  • Bank receives and approves the registration request after scrutinizing the relevant details of the customer. Please note that the details provided by customer on FX-Retail platform need to match with those on record with the Bank for the registration request to be approved by the Bank.
  • Customer has to submit an Indemnity document to the Branch / Relationship Manager / Corporate Client Service Centre. Format available with them.
  • Once the registration request is approved, the access credentials for the platform will be sent to customer to his/her registered email address.
  • Post successful registration, customer can login to FX-Retail portal from the next forex working day
  • Prior to buying or selling foreign exchange on FX-Retail, the Bank needs to set limits and mark-up for customer on the platform.
  • Submit the duly filled transaction-related forms along with the FX-Retail Limit Request form. List of forms are available with the Branch.
  • The Bank sets the requested limit for the customer and mark-up on the platform.
  • Customer can proceed to place an order on the FX Retail platform up to the limit defined by the Bank within the limit validity period.
  • FX-Retail shall send order confirmation mail to the customer to the registered email address upon successful completion of the order.
  • Customer shall contact the branch/RM immediately with this order confirmation along with underlying documents for execution of the transaction

Registration Charges

Individual

Rs. 300*

Non Individuals

Rs. 1,000*

Transaction Charges

Up to USD 50,000 a day

No Charges

Above USD 50,000 a day

0.0004% on the entire transaction value in INR*

 

* GST is applicable on the above charges.

Please note that the above charges are levied by CCIL and are collected by the Bank for usage of FX-Retail platform. Transaction processing charges levied by the bank shall additionally apply, where ever applicable.