NEWS Broker Features FXCM Broker Offers Account Transfer to FXCM UK Due to New Compliance Rule
FXCM Broker Offers Account Transfer to FXCM UK Due to New Compliance Rule
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.
While FXCM acknowledges the NFA's concern and obligation to protect clients, FXCM would like to extend an option to those who would like to continue using stop-loss and limit orders and understand the implications. Traders can transfer their accounts to Forex Capital Markets Ltd. (FXCM UK) and continue to place stop-loss and limit orders and maintain the ability to modify and close orders from the "Open Positions" Window.
Deadline to Complete Transfer Form: JULY 21, 2009
