Quote Originally Posted by ;
It appears to me that this principle has been misunderstood or misread. I trade with Oanda. I asked them now about it and this is what they said....


Short Description: FIFO rule query

Dear M******,Thank you for your interest in FXTrade.OANDA's FXTrade platform
currently operates with a First-In, First-Out (FIFO) procedure. We do not
anticipate any change to your ability in how you trade with OANDA. At present,
OANDA will not be eliminating our Stop Loss or Limit order function from this platform.
Should this ever change, then we'll certainly...
The reason why Oanda will not be effected by this is because all transactions around precisely the same pair are placed in precisely the same trade position. Therefore, in the event that you make 5 buys on precisely the same pair all it does is add to a place therfore FIFO does not count because there is but 1 position. MT4 does not function like that. Should you make 5 transactions on precisely the same pair you will get 5 different positions consequently enacting the FIFO law so in order to get out the very first trade has to be shut and so forth.

This new rule is dumb and dreadful. What sucks most is UK brokers aren't permitted by law allowing US citizens to open an account with them. The only broker I have found which can help us would be forex.comUK that I truly don't want to go to.