Kooltra supports the creation of a diverse set of accounts. These accounts are classified by their counterparty type and settlement type which are described in the following sections. To access the accounts in Kooltra, click on Counterparties > Counterparties in the navigation pane.
- Individual: Created for individual people. These accounts are often used in the retail foreign exchange business.
- Company: Created for companies or businesses.
- Trust: Created to represent a trust company that holds funds on behalf of an individual or company.
- Association: Created to represent accounts that associate together individuals or entities.
- Government Body: Created to represent a government based account or any political subdivision.
- Partnership: Created to represent a partnership between two or more individuals that identify as co-owners.
- Internal: Created to represent internal accounts.
Kooltra supports a wide variety of account settlement types. The list of available options are described below.
- Give up: Accounts that settle into the nostro of a specified give up account. This give up account must be specified during account creation.
- Net: Accounts whose trades that roll forward. Trades do not actually settle with this account, but rather the trades are aggregated.
- Nostro: Accounts with your liquidity provider used for trading and settling in multiple currencies.
- Payments: Client accounts that mainly trade for the purpose of making payments to beneficiaries.
- Vostro: Client accounts that trade and settle in multiple currencies.
- Retail Margin Liquidity Provider: Accounts with your retail liquidity provider used for trading spot or CFD products that do not settle and positions are rolled forward.
- Retail Margin Customer: Retail client accounts that mainly trade for the purpose of speculation. The trades typically do not settle and positions are rolled forward.
- MT4 Client: Retail client accounts that specifically trade on the MetaTrader 4 (MT4) platform for the purpose of speculation. The trades typically do not settle and positions are rolled forward.
The Counterparties page allows you to browse and filter on all counterparties in your entity by Status or Settlement Type. By default, three columns are displayed in the name card: Account Name, Legal Name (of the Individual or Company) and Account Code. You can click each account name to view and/or modify all account details in a separate tab.
Insert a New Account
You can add a new account by clicking the New button above the Status and Settlement filter. This will being up the New Counterparty window shown below where you can fill out the minimal details required to create a new account. Note that fields marked with a * are required.
Once you click the green Create button, the accout details will open up allowing you to enter additional details in the System Information, Address Information, Trading Information, Compliance and Screening cards.
There is a top menu on the counterparty details page that allows you to enter additional information associated with the counterparty such as the contacts, documents, notes, apps and fees. Each secetion in the top menu is overviewed below.
The overview tab allows you to enter information about your counterparty such as the system information, address information, trading information, client funding accounts and compliance information.
The Contact tab allows you to add multiple personnels associated with a specific account (ex. employees of the company). You can also search any information of the contact in the search box on the top right corner. To add a new contact, click the New button.
Forex regulatory associations often require business or personal documentation associated with the counterparty. The documents tab in Kooltra allows you to store and update all important documents. To upload a document follow the video below.
You will be able to add notes in this section.
The Apps tab displays all counterparty-level apps that can be enabled. If you cannot find the app you are looking for, please check with your Kooltra Administrator.
You can add the calculation method (Manual or USD per million) for trade fees.
Counterparties, New Account
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