Francesc Riverola,
Hi everyone
On a notice to members from last April 13th, the NFA announced the prohibition hedging.
An important executive of the Retail Forex industry just informed me that the NFA will not be allowing stop and limit orders on open positions either, as this conflicts with their FIFO - first-in, first-out - new policy. This goes into effect may 17th.
As soon as I get more information, I’ll let you know
Francesc
Update1 NFA Not allowing stop and limit orders - FIFO delayed to July 31st
Hope this is not true, because I see a lot of clients flying to Switzerland and other less regulated Forex brokers. Stop and limit orders are a very important tool for traders to manage risk, without them it’s impossible to trade properly.
Regards,
FXWizard
This is exactly what I asked the exectuve that gave me the info.
Without further information, I do hope as well that this is not true
NFA will only create a massive transfer of retail forex accounts from USA to UK, Switzerland and other places…
The Hedging ban was surprising, but acceptable, this is a total joke ! There’s no forex trading without Stops and Limits, in which planet are they living ?
UK retail forex brokers must be jumping of joy…
if this is true they will shutdown all us brokers…because it is impossible..even stocks have limit and stop orders how to it will be not allowed in forex ?!!
As far as U.S. traders going offshore, I hope…but remember, the current administration is also attacking most anything related to “offshore” (corporate tax havens, etc.). Remember, these are the same folks who fired the CEO of an auto company. It’s hard to know how far they’ll go with new regulations and restrictions…