NEWS Broker Features FXCM Broker Introduces New Risk Management OCO (One Cancels the Other)
FXCM Broker Introduces New Risk Management OCO (One Cancels the Other)
The new Compliance Rules 2-43(b) states that forex traders will no longer have the ability to place stop-loss or limit orders. Forex traders will no longer be able to modify or close trades from the 'Open Positions" window. Hence, any existing stop-loss and limit orders will be removed from FXCM broker accounts after July 31.
It is a well-known fact that every trader should manage risk by using stop-loss and limit orders. Stops and limits are two entry orders that are linked to an individual open position. If a stop or limit order is triggered the other is canceled.
In order to offer an alternative risk management to traders, FXCM has introduced a new feature called OCO (One Cancels the Other) entry orders, which will provide traders with the same functionality as stop and limit orders except that they are not linked to any position.
