Thread: NFA New Rule Not allowing stop and limit orders

Originally Posted by ;

The motives for presenting these regs are farcical. Please, we do not want your hands wringing nannying to'protect' us. I have never read these shit in all of my days. Simplest answer is do not do business with a USA based forex broker.

The whole campaign was badly intended by the NFA, images of this Charge of The Light Brigade come to mind - an indiion of the kind of people at its head. The trader was not believed - it was thrown out without the slightest thought as to the consequences to the brokers, their clientele or the platform manufacturers - no substantial time was granted to create the essential changes easily, result was the extension of this deadline followed with their own open letter telling off brokers about the way their sales folks were passing on false information about the requirements.

I am glad I'm not with a US broker, it seems that their next target is scalping, ah, but keep in mind, this is being done in your interest, they only want to protect you! Good 'ol NFA! Long live the Nanny State, House of the not entirely free, Property of the trader!

You know the way in the US you say wow, you know that in Europe the girls all sunbathe topless, they have tens of thousands of nudist beaches AND sex isn't a taboo subject, they're all open minded and free spirited! Well the latest variant is Wow, you know that in Europe you are permitted to hedge in Forex and the regulators are open minded and free spirited, yea they even let you scalp!

I am happily able to perform both with ACM who are Swiss based, they're even introducing the MT4 this month if this is your platform of taste. You may also wish to appear in other Euro-Brokers, however I would recomend mine for its excellent execution qualities. Like Aesculus states, vote with your feet if you are not satisfied.

Really its official that is even more ridiculous once you read the NFA's releases. They are concerned that traders using large (e.g. 200:1 leverage) might not realise how fast this can liquidate them! Now hang on there only 1 moment, every broker says clearly how forex is high risk and you can get rid of all of your funds and its generally written a foot full of bold type. But if this doesn't put someone on awake and they lose money by not understanding how leverage works whose fault is that? If they don't understand the basics then they should not be trading in the first position, be it on your own head. So, if you can't stand the heat...

The NFA is definitely NOT interested in traders, they're considering BROKERS. The NFA is like a bully, oh we are, we could create all of the STUPID rules we want and they have to FOLLOW THEM LIKE LEMMINGS.

I agree wholeheartedly with all the other posts. The NFA is stupid and strong, if you trade in the US. Legislation is great IF it accomplishes some sort of advantage for ALL: Broker:Trader. When ALL the rules are pointed to the trader and the broker is left untouched, whom does it profit?

When my broker gets regulated, I'll close my account and then transfer it to a different broker that doesn't have those stupid rules. Rules are necessary but one-sided principles are counter-productive and destructive to the trader. Since US brokers' accounts are shut in massive amounts, maybe they will get the point. This is a global market, and traders do not have to put up with this crap.

Why does the NFA not protect EVERYBODY by taking our computers? Perhaps that will be next. Look at it; NO COMPUTER: NO LOSSES. But remember NO GAINS EITHER!!!

Pipsqueak2

Originally Posted by ;

NFA won't be allowing stop and limit orders open positions , because this conflicts with their FIFO - first-in, first-out - new policy. This goes into effect might 17th.

Go NFA, Go NFA.

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Any thoughts?

Nazi Futures Association? There's my idea! lol

How'd you figure out? I think you're way off base with that assumption, but provide an example anyhow.