miércoles, 5 de agosto de 2009

Sterling Traders Ltd will NOT be affected by the new NFA regulations.

City of London, Date: 1st August 2009 — There is an answer to the new restrictive rules placed on traders by the NFA.

As of Monday the 3rd August 2009 The National Futures Association (NFA) new regulations come into effect. This is about FIFO (First in, first out), in other words, when a trader opens more than one position in the same currency (very important for hedging purposes), the trader must then close the positions in the order they were opened. If a trader opened a trade for in the EUR/USD currency for example, then continued to open other positions in the EUR/USD currency, that first position needs to be closed before any subsequent positions the trader opened are closed. Forex traders will no longer have the ability to selectively place stop-loss or limit orders on individual trades, nor will traders be able to modify or close trades from the “Open Positions” window.
There is an answer to this, the most obvious one being to use a broker outside the United States and therefore Not regulated by the NFA. Sterling Traders Ltd use FXCM in the UK which is part of the FXCM group but licenced by the UK's FSA (Financial Services Authority). This permits Sterling Traders Ltd to trade as before, making maximum use of the market. “One of the main reason for selecting FXCM in the UK was for their high level of security, customer service and transparency but with the benefits of operating outside the US area of regulatory authority”, says Stephen Lord Harrison, CEO at Sterling Traders Ltd, a London based forex management company.