DailyFX Forum - Regulations and Changes http://forexforums.dailyfx.com New regulatory requirements will eliminate hedging May 15 for US accounts. Stay informed about changes in the NFA here. en Sun, 22 Nov 2009 00:34:20 GMT vBulletin 60 http://forexforums.dailyfx.com/images/dfx2009/misc/rss.jpg DailyFX Forum - Regulations and Changes http://forexforums.dailyfx.com Any limit on the number of trades http://forexforums.dailyfx.com/regulations-changes/126616-any-limit-number-trades.html Thu, 19 Nov 2009 08:13:42 GMT Hi, I am a FXCM Micro Account Holder (US) and... Hi,

I am a FXCM Micro Account Holder (US) and I am wondering if Micro account holders are subject to any limits on the number of trades they can make in a period (day/week/month) etc?

It doesn't look like there are any limits but I don't seem to find a way to get in touch with someone at FXCM to get a confirmation. Can anyone here shed some light on this please?

Thank you.
MAhmed ]]> Regulations and Changes mahmed http://forexforums.dailyfx.com/regulations-changes/126616-any-limit-number-trades.html OCO orders http://forexforums.dailyfx.com/regulations-changes/126046-oco-orders.html Wed, 18 Nov 2009 05:47:47 GMT I have a question. If I set an entry order, then... I have a question. If I set an entry order, then I set a Stop Entry and a Limit Entry and link the SE and LE orders as OCO, is it possible that the SE or LE can execute even if the Entry order never executes. Or will the OCO orders only execute if there is an open position? ]]> Regulations and Changes Remme07 http://forexforums.dailyfx.com/regulations-changes/126046-oco-orders.html Do New Margin requirements affect Micro http://forexforums.dailyfx.com/regulations-changes/113133-do-new-margin-requirements-affect-micro.html Tue, 20 Oct 2009 01:19:37 GMT Will the new margin requirements apply to the... Will the new margin requirements apply to the micro accounts. There are dramatic margin changes going into force on November 22, 2009 on the standard 10K lot accounts. Will Micro have the same issue? What will the new numbers be for Micro. When will you have information out on the website for these changes in the US? Can we still transfer to the UK and is the UK, just around the corner from doing the same thing? ]]> Regulations and Changes NorthwestFX http://forexforums.dailyfx.com/regulations-changes/113133-do-new-margin-requirements-affect-micro.html OCO Orders! http://forexforums.dailyfx.com/regulations-changes/87075-oco-orders.html Fri, 10 Jul 2009 20:15:58 GMT I understand that OCO orders are going to be... I understand that OCO orders are going to be introduced on the trading platform in the near future. Any more information would be appreciated! ]]> Regulations and Changes kinkeadfx http://forexforums.dailyfx.com/regulations-changes/87075-oco-orders.html STOPS AND LIMITS? http://forexforums.dailyfx.com/regulations-changes/81221-stops-limits.html Wed, 10 Jun 2009 20:05:51 GMT I assume when our accounts are moved to the UK,... I assume when our accounts are moved to the UK, that the preset stops and limits will still be enabled on the platform like the hedging feature?

Thanks! :) ]]> Regulations and Changes kinkeadfx http://forexforums.dailyfx.com/regulations-changes/81221-stops-limits.html HEDGING? http://forexforums.dailyfx.com/regulations-changes/80020-hedging.html Thu, 04 Jun 2009 15:47:11 GMT When will the micro accounts be ready to hedge... When will the micro accounts be ready to hedge for the people who filled out the online transfer forms?
Thanks! ]]> Regulations and Changes kinkeadfx http://forexforums.dailyfx.com/regulations-changes/80020-hedging.html Hedging feature is disabled? http://forexforums.dailyfx.com/regulations-changes/76684-hedging-feature-disabled.html Mon, 18 May 2009 02:20:15 GMT I am not able to do hedging. What should I do to... I am not able to do hedging. What should I do to do that? ]]> Regulations and Changes penki_c1 http://forexforums.dailyfx.com/regulations-changes/76684-hedging-feature-disabled.html Questions and Answers http://forexforums.dailyfx.com/regulations-changes/74738-questions-answers.html Tue, 05 May 2009 19:43:43 GMT If you have any questions about the new... If you have any questions about the new regulations, or their effect on your risk management, to contact us. You may do so at info@fxcmmicro.com. You can also post your questions here on the FXCM Micro forum !
]]> Regulations and Changes Walker E. http://forexforums.dailyfx.com/regulations-changes/74738-questions-answers.html NFA - No Hedging - Video Series http://forexforums.dailyfx.com/regulations-changes/74737-nfa-no-hedging-video-series.html Tue, 05 May 2009 19:36:26 GMT ]]> Regulations and Changes Walker E. http://forexforums.dailyfx.com/regulations-changes/74737-nfa-no-hedging-video-series.html <![CDATA[New Regulations FAQ's]]> http://forexforums.dailyfx.com/regulations-changes/74462-new-regulations-faqs.html Sun, 03 May 2009 17:16:35 GMT What the new rules mean: *Q. Why is the NFA... What the new rules mean:


Q. Why is the NFA imposing these new rules?

A. When it comes to the restriction on hedging, NFA believes that hedging eliminates any opportunity to profit on a transaction, and it increases the customer’s financial costs (Ex: customers entering hedged positions will pay the entire spread twice, doubling the expense of entering and exiting the transaction.) NFA's position is that “customers do not understand either the lack of financial benefit or the financial costs involved” in carrying long and short positions in the same currency in the same account

When it comes to mandating first in first out execution (FIFO), the NFA stance is that FIFO provides more transparency to customers, offering a more accurate picture of the P/L on multiple positions than viewing profit or loss on individual positions.


Q. What will happen with my existing positions?

A. All positions that are opened before 4pm ET on May 15th will not be affected. If you have open positions with stops and limits already in place, the positions will remain as is, when the market re-opens on Sunday May 17th. The stop and limit orders on these positions will not be editable though. Also if you place an opposing order after it will net out any positions regardless of when they were opened.

Q. If I can’t place stops and limit orders how am I expected to manage the risk of my positions?

A. Entry orders can be used to help protect your market risk. The video found here provides will walk you through how to use entry orders to do so

Q. If I can’t close trades through the Open Positions window how will I do so?

A. Simply send through an opposing market order on the same currency pair, for the same amount as your open position. This video wills you how

Q. If I place two entry orders, one to take profit (as a limit), one to take loss (as a stop) to manage my open trades, and the market trades to one entry order, will the second be deleted?

A: No. At this time entry orders are not OCO.

Q: May I still see individual open positions, by ticket? May I see individual ticket p&l?

Yes, you may view the open positions window, or load an account report at any time. Profit and loss is displayed in real time. We do encourage clients to spend time familiarizing themselves with the Summary window as this is the best way to see your net positions for each pair at any given time. See the explanation about the summary window in the video


Q. I like to trade on the charts, how will that be affected? How can I close a position from the chart?

A. You can still place market and entry orders from the chart as you did before. The only difference is that the FIFO order logic will apply. Please see the video for further explanation on FIFO (link to Karen’s video)

Q. I am an MT4 user, how will my account be affected?

A. MetaQuotes, the developer of the MetaTrader platform, is working to put through a patch that will disallow hedging and comply with the FIFO execution requirement. If you wish to keep the same functionality that you currently have you can move your account to FXCM UK by filling out the opt-in form found here

Q. I am and MT4 user that applies Expert Advisers, how will they be affected?

A. It depends. Some expert advisors use only market orders to both open and close positions. These EAs will comply with FIFO execution. Other EAs do assign stop-loss and limit orders to specific ticket numbers, when MetaQuotes puts through the patch these orders will get rejected by the platform. If you are concerned that the new restrictions will affect the EAs that you use and your account you can move your account to FXCM UK by filling out the opt-in form found here


Q. I use the Forex System Selector platform, how will my account/portfolio be affected?

A. Tradency, the company behind the Forex System Selector software will also be putting through a patch to comply with the new rules. Some of the systems that are available on the FSS platform use only market orders, some use stop and limit orders as well as closing orders. The system developers may have to make adjustments to the logic used. If you are concerned about how this will affect your FSS portfolio, you can fill out the opt-in form to have your account transferred to FXCM UK which can be found here The new restrictions do not apply to accounts with FXCM UK so submitting that form will ensure that there are no changes to your account.

Q. What will I still be able to use stops and limits?
The NFA is considering changing the way orders are executed. This regulation is currently on hold through July 31st.


***Editor's note: the link in this post has been removed. The transferring process has completed, if you have further questions, please post your questions in this forum. ]]> Regulations and Changes Walker E. http://forexforums.dailyfx.com/regulations-changes/74462-new-regulations-faqs.html New NFA Requirements ! http://forexforums.dailyfx.com/regulations-changes/71801-new-nfa-requirements.html Wed, 15 Apr 2009 18:37:11 GMT *Regulatory and Account Changes* As of *May... Regulatory and Account Changes

As of May 15th, new regulation requirements are being handed down by the NFA. These requirements will affect all FXCM Micro and domestic based trading accounts.

Quote:
The NFA has received notice that the Commodity Futures Trading Commission has approved new NFA Compliance Rule 2-43 regarding forex orders. The prohibition on carrying offsetting transactions will be effective for any positions established after May 15, 2009. The requirements regarding price adjustments will become effective as to all customer orders executed after June 12, 2009.
This new regulation means that after May 17, all hedging will be disabled .
If you are currently in a hedged position at the time of the policy change, you will be allowed to maintain it. However, once the hedge is closed new hedged positions will not be allowed.

As we adapt to a new and changing regulatory environment, please contact us if you have any direct concerns.

Walker ]]> Regulations and Changes Walker E. http://forexforums.dailyfx.com/regulations-changes/71801-new-nfa-requirements.html International Regulators http://forexforums.dailyfx.com/regulations-changes/71680-international-regulators.html Tue, 14 Apr 2009 19:36:09 GMT FXCM is registered internationally in good... FXCM is registered internationally in good standing with multiple regulators.


FXCM must meet strict financial standards, including capital adequacy requirements. On a regular basis, FXCM is required to submit financial reports to regulators. These standards are enforced by the below regulators, which has the right to fine firms and/or terminate their regulatory status for violations.

FXCM is registered in the UK through the FSA .
Registered: FSA (United Kingdom) ID# 217689
Information can be found online at: FSA Register


FXCM is registered in Hong Kong through the SFC
Registered: SFC (Hong Kong) ID# CE#AIM232
Information can be found online at: SFC Register

FXCM is registered in Canada through the BCSC
Registered: BCSC (Canada) ID # 182963
Information can be found online at: http://www.bcsc.bc.ca/

FXCM is registered in Australia through the AISC
Registered: ASIC (Australia) AFSL# 309763, ARBN# 121 934 432
Information can be found online at http://www.asic.gov.au/asic/asic.nsf ]]> Regulations and Changes Walker E. http://forexforums.dailyfx.com/regulations-changes/71680-international-regulators.html US Regulators http://forexforums.dailyfx.com/regulations-changes/71678-us-regulators.html Tue, 14 Apr 2009 19:13:53 GMT FXCM is a registered Futures Commission Merchant... FXCM is a registered Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).

As a vocal advocate of foreign exchange regulation and increased investor protection, FXCM is proud to be one of the first foreign exchange firms to register as an FCM following the passage of the Commodity Modernization Act in December 2000.

Registered: FCM (United States) NFA ID# 0308179
Information on the NFA may be found at http://www.nfa.futures.org/basicnet/ ]]> Regulations and Changes Walker E. http://forexforums.dailyfx.com/regulations-changes/71678-us-regulators.html