Financial Software for Forex Trading
The different packages of financial software for forex trading manage the various back-office functions of foreign exchange dealing.
Typically, any back office function for forex trading is responsible for, for example:
- Publishing trading account statements
- Overseeing that the trading goes according to trade rules and regulations
- Trading contracts' conclusions
- Orders' execution confirmation
- Handling trading accounts
- Actual money transfer
To manage these complex back-office functions, there are several companies that have back-office financial software available.
These solutions range from software for individual traders to software systems for large institutions with forex dealing rooms.
Using good financial software to keep records of your trading is a sound approach to trading, and can help in solving any trading related disputes arising between your trading operation and brokerages, for example.
Available Financial Software for Forex Trading
Majority of the back office financial software is targeted for corporate/dealing room/treasury operations rather than for individual traders.
The financial forex software packages for larger institutions include:
- Forex-Pro Back Office by ProBanx
- DEALEX-3 by Digitec
- Tradix by Ubitrade
- VisualTrading Platform by Visual Trading Systems
If you are an individual trader, you can also think about mainly relying on the back office solutions offered by many brokerages.
The back office functions for brokerages may go far beyond giving you detailed trading account statements.
For example, GFTForex.com's back office account service team assists forex traders with everything from opening and updating your account, to learning more about trading forex with GFT.
From the function, you can obtain all of the relevant forms you need to open an account, including individual, partnership and corporate applications as well as statements, policies and government forms.
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