Oanda has recently announced a change in how FIFO is implemented on their platforms. FIFO (which stands for first in first out) was implemented in the US by the National Futures Association (NFA) in August 2010. FIFO is a common feature in stocks and futures platform but is relatively new to forex platforms. This change caused a lot of confusion amongst traders and brokers in the US. Prior to the NFA rule change, forex traders with multiple positions in the same instrument could close trades in any order they wanted and even hedge their open positions. The NFA cited the lack of economic benefits of hedging and ... (full story)