Jul 22 2009, 10:02 PM
QUOTE
Q. Does FIFO apply to all of my trades?
A. First in / First out applies ONLY to trades of the same size.
Q. Will my Expert Advisor still work?
A. All of your Expert Advisors will continue to work with all of your pre-programmed stops, limits and trailing stops.
Q. Will I still be able to use Stops and Limits, Trailing Stops and Take Profits?
A. Absolutely – With the IBFX solution, you won’t have to make any changes from the way that you are trading currently. No need to make any adjustments to Stops and Limits, Trailing Stops or Take Profits.
Q. Will I still be able to close any of my orders of the same currency pair in any order?
A. Yes, with the IBFX solution, your trading will still be fully functional without any changes to your current trading strategies.
Q. How will this affect my daily statements?
A. Interbank FX Official Statements will come directly from Interbank FX’s proprietary back office system using our FIFO offsetting and accounting procedures. These statements will be accessible through a client’s Web Site Login. You will still be able to pull an Unofficial Trade Journal using the Trade Journal feature within the IBFX website. You will also be able to produce Unofficial Trade Journals using MetaTrader 4 as your Trade Manager.
Q. Does this NFA rule apply to all U.S. based brokers?
A. Yes, this rule affects any broker in the U.S. that is a member of the NFA. Other brokers have attempted different approaches to this new ruling. We at Interbank FX strive to make trading in the forex market as simple as possible for our clients, all the while in full compliance with the NFA.
A. First in / First out applies ONLY to trades of the same size.
Q. Will my Expert Advisor still work?
A. All of your Expert Advisors will continue to work with all of your pre-programmed stops, limits and trailing stops.
Q. Will I still be able to use Stops and Limits, Trailing Stops and Take Profits?
A. Absolutely – With the IBFX solution, you won’t have to make any changes from the way that you are trading currently. No need to make any adjustments to Stops and Limits, Trailing Stops or Take Profits.
Q. Will I still be able to close any of my orders of the same currency pair in any order?
A. Yes, with the IBFX solution, your trading will still be fully functional without any changes to your current trading strategies.
Q. How will this affect my daily statements?
A. Interbank FX Official Statements will come directly from Interbank FX’s proprietary back office system using our FIFO offsetting and accounting procedures. These statements will be accessible through a client’s Web Site Login. You will still be able to pull an Unofficial Trade Journal using the Trade Journal feature within the IBFX website. You will also be able to produce Unofficial Trade Journals using MetaTrader 4 as your Trade Manager.
Q. Does this NFA rule apply to all U.S. based brokers?
A. Yes, this rule affects any broker in the U.S. that is a member of the NFA. Other brokers have attempted different approaches to this new ruling. We at Interbank FX strive to make trading in the forex market as simple as possible for our clients, all the while in full compliance with the NFA.
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