Please read the entire press release to get full explanation as to why stops/limits are being removed, and that OCO orders are being implemented instead. Taken out of context, I could see how it would be alarming. http://www.dailyfx.com/story/press_r...546593628.html
Traders can stay with FXCM US by all means, but this notification is being sent out for our traders to understand why stops/limits from open positions are being removed, and what needs to be used instead.
We have provided a full discussion, FAQ, and videos well in advance of the release of FIFO to make sure our clients trading with FXCM US are well prepared. FIFO rules go into effect July 31.
Jason
Traders can stay with FXCM US by all means, but this notification is being sent out for our traders to understand why stops/limits from open positions are being removed, and what needs to be used instead.
We have provided a full discussion, FAQ, and videos well in advance of the release of FIFO to make sure our clients trading with FXCM US are well prepared. FIFO rules go into effect July 31.
Jason
DislikedIf people properly understood FIFO they would understand why the first post in this thread (FXCM's explanation) is a gross exaggeration and completely retarded re: limit and stop orders. Pretty sure FXCM just wants their customers to move to their UK subsidiary, because they've put out some downright stupid news releases in the past two months regarding the new NFA rules.
If you don't understand FIFO, I guess the first post would probably freak you out, in which case I advise you to read up on how FIFO works and why this ruling doesn't mean you...Ignored