Attention all forex traders!
As you are likely aware, the NFA has made some major changes to the regulations regarding order types that forex traders can now place.
Brokers are NO LONGER allowed to accept:
- OCO orders, (one cancels the other, used when bracketing the market for breakouts)
- Stop Loss Orders (to limit your Losses or risk in a given trade) – GONE
- Limit Orders (to exit you out of your position when your target is hit) – GONE
Some brokers have simply removed these orders altogether, others have created a temporary patchy workaround (which can come crashing down at a MOMENT’S notice), and others still have sent ALL of their clients overseas! (not a good idea by any stretch!)
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