Alpari (US), a regulated Foreign Exchange company and global
provider of online Forex trading, announced today that it will be
maintaining full compliance with the new NFA Rule 2-43 (b), which
requires orders be executed on a First In, First Out (FIFO) basis
when multiple positions are held in the same currency pair. This
means that the position which was first opened will be the first to
be closed, but stop-loss and limit orders will still be able to be
placed on Alpari (US) accounts. Commenting on the new NFA rule,
Olga Rybalkina, CEO of Alpari (US), said, We fully embrace NFAs new
FIFO rule since it provides greater transparency for our customers
and conforms to the standards in place in the broad,
exchange-traded foreign exchange market. When the NFA first issued
these new rules, we began working diligently with MetaQuotes
Software Corp., on an upgrade to MT4 which is fully compliant with
new FIFO/offsetting rule. Alpari (US) traders have also been able
to download from our website a demo version of MT4 to practice with
the FIFO-compliant features that MetaQuotes added to MT4. More
importantly, the NFA has been kept fully abreast of our initiatives
in this area and has had an opportunity to review them.Added Ms.
Rybalkina, We are providing our clients with the comprehensive
information and educational tools to ensure that the implementation
of this rule is a smooth transition for them. Alpari (US) has
prepared a special instructional video for clients on FIFO that
takes them through the FIFO changes, step by step, and which can be
accessed on our web site, www.alpari-us.com. As of July 27, 2009,
traders will be able to visit the Alpari (US) website to access
educational information on FIFO and watch this instructional video
tutorial on trading using the new NFA-compliant features added to
MT4. Alpari (US) has also begun work on a proprietary software
program which will add enhanced trading capabilities and
functionalities to MT4, yet still remain in compliance with FIFO.In
addition, several email blasts beginning today will be sent to
clients alerting them to the FIFO changes that take effect at the
end of trading on July 31, and commence on Monday, August 2nd. All
clients pending orders will be closed as of the end of trading on
July 31st to conform with the new FIFO rule.For more information,
read our latest forex news.
view original article