Guys and gals, hold your horses.
I was told that my broker (Forex Club) will continue to allow stops and limits because the FIFO rule doesn't apply to the way they trade. Their support told me that they adjust existing positions instead of opening new ones, so there's no need for them to open a new position every time you adjust your trade and no need for you to have to close said positions one at a time when you want to exit a trade (FIFO), so the NFA's no stop/limit order doesn't apply to them.
Instead of venting, call up your broker to see if this rule applies to them. If the rule doesn't affect them, let's make a list here of US brokers who will continue to offer stop/limits.
I was told that my broker (Forex Club) will continue to allow stops and limits because the FIFO rule doesn't apply to the way they trade. Their support told me that they adjust existing positions instead of opening new ones, so there's no need for them to open a new position every time you adjust your trade and no need for you to have to close said positions one at a time when you want to exit a trade (FIFO), so the NFA's no stop/limit order doesn't apply to them.
Instead of venting, call up your broker to see if this rule applies to them. If the rule doesn't affect them, let's make a list here of US brokers who will continue to offer stop/limits.