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Gain says Forex.com customers not affected by new NFA regulation

09 July 2009  |  1490 views  |  0 Source: Gain Capital

Customers of Gain Capital's FOREX.com online foreign exchange trading division will be unaffected by the new National Futures Association (NFA) regulation requiring customer orders to be executed on a first-in, first-out (FIFO) basis.

The company's FOREXTrader proprietary trading platform has always used the FIFO method and therefore fully supports NFA rule 2-43(b), which goes into effect on August 1, 2009. As a result, traders can continue to use stop and limit orders to both enter new and protect open positions, as well as utilize all other advanced order types available on the platform including One Cancels Other (OCOs) and Trailing Stops.

These tools help to mitigate risk by allowing traders the flexibility to initiate their preferred trades real-time. Not having access to them can put the trader at a distinct disadvantage.

The new rule also eliminates the practice of hedging - holding simultaneous long and short (or "offsetting") positions in a single currency pair. Traders that require hedging capabilities can trade through GAIN Capital's FSA registered entity, FOREX.com UK.

"As one of the largest regulated forex dealers in the United States, we are committed to offering products and services that are fully compliant with our regulator, the National Futures Association, while continuing our commitment to provide the best trading experience for our customers," said Glenn Stevens, chief executive officer, GAIN Capital.

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