We are providing our clients with the comprehensive information and educational tools to ensure that the implementation of this rule is a smooth transition for them.
New York, NY (PRWEB) July 27, 2009
Alpari (US), a regulated Foreign Exchange company and global provider of online Forex trading, announced today that it will be maintaining full compliance with the new NFA Rule 2-43 (b), which requires orders be executed on a First In, First Out (FIFO) basis when multiple positions are held in the same currency pair. This means that the position which was first opened will be the first to be closed, but stop-loss and limit orders will still be able to be placed on Alpari (US) accounts.
Commenting on the new NFA rule, Olga Rybalkina, CEO of Alpari (US), said, "We fully embrace NFA's new FIFO rule since it provides greater transparency for our customers and conforms to the standards in place in the broad, exchange-traded foreign exchange market. When the NFA first issued these new rules, we began working diligently with MetaQuotes Software Corp. on an upgrade to MT4 which is fully compliant with new FIFO/offsetting rule. Our systems have since been re-programmed so that they conform with FIFO, including the new stop-loss and limit order requirements. Alpari (US) traders have also been able to download from our website a demo version of MT4 to practice with the FIFO-compliant features that MetaQuotes added to MT4. More importantly, the NFA has been kept fully abreast of our initiatives in this area and has had an opportunity to review them."
Added Ms. Rybalkina, "We are providing our clients with the comprehensive information and educational tools to ensure that the implementation of this rule is a smooth transition for them."
Alpari (US) has prepared a special instructional video for clients on FIFO that takes them through the FIFO changes, step by step, and which can be accessed on our web site, http://www.alpari-us.com. As of July 27, 2009, traders will be able to visit the Alpari (US) website to access educational information on FIFO and watch this instructional video tutorial on trading using the new NFA-compliant features added to MT4. Alpari (US) has also begun work on a proprietary software program which will add enhanced trading capabilities and functionalities to MT4, yet still remain in compliance with FIFO.
In addition, several email blasts beginning today will be sent to clients alerting them to the FIFO changes that take effect at the end of trading on July 31, and commence on Monday, August 2. All clients' pending orders will be closed as of the end of trading on July 31 to conform with the new FIFO rule.
About Alpari (US):
Alpari (US) was established in 2006. The company is based on Wall Street, in the financial district of New York City, where it is registered by the Commodity Futures Trading Commission (CFTC) as a Futures Commission Merchant (FCM) and is a member of the National Futures Association (NFA), Member ID: 0379679. With the growing success of its Forex business, Alpari (US) has now expanded its product base to offer U.S. exchange-traded futures and options to domestic and international investors, speculators, and institutions.
Please note that trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. For more information about the Forex industry and the regulatory protections offered to those who trade within it, please visit the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) websites at http://www.cftc.gov and http://www.nfa.futures.org.
For more information about this article, please contact:
Jaclyn Cole, Marketing Coordinator
Alpari (US), LLC
(646) 825-5760 ext. 554
(212) 681-1700 ext. 115