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Personal Banking > Hua Xia Financial Service > Foreign Exchange Financial Services
Foreign Exchange Financial Services

Personal Forex Trading

Sign up Forex Trading
With document to verify your identity, deposit a sum of FX cash or transfer the FX TT (include remittance from overseas) into Hua Xia FX Card, at Hua Xia counter fill in Hua Xia Bank FX Firm-Bid Trades Service Agreement and Hua Xia Bank FX Firm-Bid Trades Risk Disclosure, enroll Personal Internet Banking and sign up FX Trading Services. Hua Xia Bank will give you a Customer No. and you supply a password. Now you are ready to trade FX through Internet Banking or Phone Banking.

Dealing options:

Four Ways:
Spot trade: At the request of the customer, close the order immediately at the Hua Xia quote currently in force. Closing exchange rate is real-time rate that Hua Xia Bank used to close the order, or settlement rate.
Limit order: Sell FX when Hua Xia quote reaches or above the price specified by you. Buy the FX when Hua Xia quote reaches or below the price specified by you. Closing exchange rate is the real-time rate that Hua Xia Bank used to close the order, or settlement rate.


Stop-loss order: Sell FX once Hua Xia quote reaches or falls below first time the price specified by you. Closing exchange rate is real-time rate that Hua Xia Bank used to close the order, or settlement rate.
One-Cancels-Other Order(OCO): A designation for two orders: quotation order and stop loss. OCO order has quotation price and stop-loss price both set in advance: Once Hua Xia quote reaches or better than the price specified by you (quotation/stop-loss), close the order either by (quotation /stop-loss) price. Closing exchange rate is real-time rate that Hua Xia Bank used to close the order, or settlement rate. The other way (stop-loss/quotation) to close the order will be cancelled.

Exchange Rate and Class 
36 exchange rates (currency pairs) are available, 8 are benchmark rates (currency pairs), 28 are cross-rates (currency pairs). Exact pip spreads refers to the rules of local Banking Association. Further, Hua Xia Bank sets up five classes (see below) according to the closing amount (or equivalent in USD) of one single trade.

Class

Trading Amount (or equivalent in USD)

I

Between 10 and 2,000

II

Between 2,000 (inclusive) and 20,000

III

Between 20,000 (inclusive) and 50,000

IV

Between 50,000 (inclusive) and 100,000

V

Between 100,000 (inclusive) and 1,000,000 (inclusive)


1. Trading Amount: Minimum FX in one single trade is an amount equivalent to USD 10 (converted at the rate of Hua Xia real-time quote), while maximum is an amount equivalent to USD one million. 
2. Transaction Fee: None
3.You must follow Hua Xia rules when trading online or through phone. Know the steps. You are liablefor all loss arising from operation error.
4. Hua Xia FX firm-bid trades are cleared in T+0 days. Once you close an order, Hua Xia computer system will settle the amount at once automatically. In other words, same FX can be used to trade many times in a day.

Trading Hours of major FX markets in the world (Beijing Time)

Region

City

Opening Hours

Closing Hours

Australasia

Sydney

7:00

15:00

Asia

Tokyo

8:00

16:00

Hong Kong

9:00

17:00

Singapore

9:00

17:00

Bahrein

14:00

22:00

Europe

Frankfurt

16:00

0:00

Zurich

16:00

0:00

Paris

17:00

1:00

London

18:00

2:00

North America

New York

20:00

4:00

Los Angeles

21:00

5:00

Customer Service Hotline: 95577 (in China); 8621- 38839888 (Overseas) or logonhttp://www.hxb.com.cn

Figure (1): Operation Flow – Phone Banking


Figure (2): Operation Flow – Internet Banking


Note: This page is for reference only, part of the business to local outlets announcement with specific provisions prevail.

FX Term Savings

What is FX Term Savings?
A kind of savings in the form of Hua Xia Bank Card.(Hua Xia card, Hua Xia Sinobeauty Card, Hua Xia Gold Card) and CD (Certificate of Deposit) Both parties state the deposit amount,deposit period, interest rate and others in an agreement. Hua Xia Bank pays the accrued interest as agreed. Initial minimum is an amount of foreign currency equivalent to USD 10 000, no ceiling. Currently offered are four types of Agreement Savings in US Dollar, Euro Dollar and HK Dollar with terms of 13 months, 15 months, 18 months and 24 months.

Features:
1. Low entry: Initial minimum is only USD 10,000 or equivalent, far less than USD 3 million required in large FX deposit.
2. High return: Get far more interest earnings than small FX time deposit of the same term same class. When you need to draw before the deposit matured, interest will be accrued at the rate close to the actual deposit period.
3. Strong liquidity: Deposit can be drawn in full or partially during the period or pledged for loan as high as 90%. The deposit can also be used to apply proof of deposit as well.
4. Highly secure: Secured income, principal-protected. You can terminate the deposit anytime you like. No uncertainty on the income and reduce exposure to interest rate and exchange rate to some extent.
5. Easy to apply: Just use your valid ID to apply at any Hua Xia outlet where such service is available.

Benefits:
Interest will be accrued according to the rate quoted for different class of term savings on the date of deposit. 
Interest accrued if drawn in advance: early withdrawal of deposit over a month or longer will have interest accrued at the rate close to the floor rate of small FX time deposit of the similar term and class quoted on the date of deposit (Ex: 1-month rate will apply if actual period is over a month but less than three months, and so forth). Deposit less than a month will have interest accrued at the rate of small FX current savings quoted on the date of withdrawal. 
Draw after maturity will have interest accrurd on the amount deposited over the original tgreement savings period at the rate of small FX current savings quoted on the day of withdrawal. No compound interest.

Applicable Clients: 
Those who have foreign currency in hand but with low risk appetite, especially those who have stable source of FX such as staff of foreign embassy, experts, overseas students, executives working in foreign enterprises, private owners engaged in overseas trade.

Service Channels:
If you have Hua Xia Certificate of Deposit, at Hua Xia outlets you can open or cancel the account, deposit or withdraw cash, transfer, remit, check accounts, report loss in written and change password.
If you choose to use Hua Xia card, at Hua Xia outlets you can open account, check account and draw cash. At Self-Service Banking, Phone Banking or Internet Banking you can check the accounts in the card.

How to Apply?
1. Open Account: Open the account at Hua Xia outlets with your valid ID. Complete the formalities for collecting FX draft first before opening the account. Collect certificate of deposit or Hua Xia card afterwards.
2. Draw Cash: You can draw all or partially before your FX time deposit matured. Remaining balances must be more than initial minimum after partial withdrawal. With your CD or Hua Xia card, and valid ID card, follow the rules to draw in advance or upon maturity: 
FX TT Account: draw at Hua Xia Bank directly if the amount is under USD 10,000 or equivalent. Documents on FX income are required if you draw FX between USD 10,000 and USD 50,000 or equivalent. Approval from the State Administration of Foreign Exchange must be presented if you draw FX cash over USD 50,000 or equivalent. Coins and changes will be paid in RMB. 
FX Cash Account: draw at Hua Xia Bank directly if the amount is under USD 10,000 or equivalent. Documents are required to verify your real identity if you draw FX cash equivalent to USD 10,000 (inclusive) or more. Coins and changes will be paid in RMB.
3. Exchange RMB: Change an amount under USD 10,000 or equivalent to RMB at Hua Xia counter directly. Documents on FX income are required if you change an amount between USD 10,000 and USD 50,000 or equivalent to RMB. Approval from the State Administration of Foreign Exchange must be presented if you change an amount over USD 50,000 or equivalent to RMB.
4. Remittance: FX TT Account: Single remittance under USD 10,000 can be applied at Hua Xia outlets. Single remittance over USD 10,000 (inclusive) needs approval from the State Administration of Foreign Exchange. Remittance for capital expenditure needs approval from the State Administration of Foreign Exchange. 
FX Cash Account: Single remittance under USD 2,000 can be applied at Hua Xia outlets. Single remittance over USD 2,000 (inclusive) needs approval from the State Administration of Foreign Exchange.
5. Cancel Account: Account can be cancelled anytime. Interest will be repaid with principal when the account is cancelled.
6. Others: Valid ID must be produced for report of loss, cancel report of loss, change of password, renewal of CD/card and withdrawal. If someone applies on behalf for you, ID documents to verify you and your representative are necessary.

Tips:
1. No automatic rollover when agreement savings matured.
2. Please keep your certificate of deposit or Hua Xia card in a safe place. If lost, report to Hua Xia Bank straight away either at Hua Xia counter, Phone Banking or Internet Banking verbally. Report of loss in written can only at Hua Xia outlets 5 days after you have made verbally. Replace certificate of deposit or Hua Xia card or cancel the account 7 days after you have made the report of loss in written.
3. Set the password as a combination of numbers so that it is not easy to be cracked. Keep the password confidential and do not let others know it.

Note: This page is for reference only, part of the business to local outlets announcement with specific provisions prevail.