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IMPORTANT ACCOUNT NOTICE: First in First out (FIFO) Order Execution Policy : B( d2 _: V$ F" m3 E
+ L# ^6 R5 v" X' ]Dear FOREX.com customer:
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On August 1, 2009, a new NFA compliance will go into effect for US regulated firms. NFA Rule 2-43(b) requires that customer orders be executed on a first-in, first-out (FIFO) basis.
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As a FOREX.com customer, you WILL NOT be affected by this new rule. 7 v( Z" I$ [6 g, _! i5 Z6 b6 E
Our proprietary trading platform, FOREXTrader, uses the FIFO method and is fully capable of supporting this change. You can continue to enter stop and limit orders, modify existing orders, as well as utilize all other advanced order types available on the FOREXTrader platform, including One Cancels Other (OCOs) and Trailing Stops. : p5 t# h6 _5 Q2 @
. P; b# v( Z; z# t, o7 hFIFO Example ( g. R0 v' P, H3 C: r; }/ p
With the first-in, first-out (FIFO) method, when multiple trades are executed in the same currency pair to establish a position, the trade which was first opened is the first closed. % w; b5 W4 _+ j" m _$ M! t0 y# t- M
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Trade Date Trade Time Position
7 M4 r1 `' U. V0 Z i$ g6 ]29-Jul 10AM Buy 10,000 EUR/USD @ 1.4000
; l; Z* e( w$ E9 T6 B7 K30-Jul 12PM Buy 50,000 EUR/USD @ 1.4050
8 U! ]5 v) L6 L! K0 d6 I# a30-Jul 2PM Buy 20,000 EUR/USD @ 1.4100 " R; N7 s: o9 l' G) Z
31-Jul 11AM Buy 10,000 EUR/USD @ 1.4150
N! ~! O# O2 h& m5 F. `- _* [4 i Total Buy 90,000 EUR/USD @ Average Price
F) H# T7 c: zWith FIFO order execution, if you are long 90,000 EUR/USD and sell 10,000, the earliest trade (from 29 Jul) is closed. |
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