All investors involved in forex trade that wish to deal in currencies of different countries must necessarily open one clearing member account for every currency exchange with which they are registered. Through forex trade alerts an investor can certainly expect a better deal when trading in currencies. The modern clearing accounts offer immense possibilities unheard of before.

The clearing member account is structured in such a way that the members must find it easier to invest and transfer funds for various purposes. This account is easier to manage than a conventional banking account. A separate clearing account is opened for settlement of accounts at the concerned currency exchange. This account has three specific components like:
• Pool account
• Delivery account
• Receipt account

Consider the facilities available with the pool account. It has two functions:
• Before pay-in, the selling client transfers currencies from his (client) account to the clearing member's pool account
• After receiving the pay-out, the clearing member transfers currencies from his pool account to the account of the client buying the currency

The delivery account is actually an innovation of sorts. The clearing member transfers currencies (as per the extent of his obligation to the clearing corporation/clearing house) from the pool account to the delivery account before pay-in. At the time of pay-in, the lead regulatory authority moves the currencies in the delivery account and transfers them to the clearing corporation/clearing house.

Therefore, what about the receipt account. On the payout day, the clearing corporation/clearing house transfers currencies to the pool account (to the extent of net receipt) through the receipt account. This account helps to trace the details of the settlement receipts of the clearing member..