InterbankFX has issued a press release on the First In First Out rule. Apparently, they have come up with some type of back office solution to the issue so they have indicated that they are NOT changing front end platform functionality.
A key statement from the press release:
Using our proprietary back office solutions, InterbankFX will allow our Meta Trader 4 platform to remain 100 percent compliant, while retaining order functionality and flexibility for customers trading. The MT4 platform will continue to function as our customers have experienced over the last several years. This includes the ability for customers to use fully functional Expert Advisors, Stops Losses, Take Profits, Trailing Stops and Limit Orders without making any needed adjustments.
Also, just for kicks, a quote from the president of InterbankFX:
"Certain US competitors have decided that their solution to the new FIFO rules are to move their customers overseas, rather than being compliant," said Todd Crosland, Chairman and President of InterbankFX. "At InterbankFX, we have embraced the NFA's efforts to help protect customers and provide a seamless solution without any changes to their current trading strategies."
I wonder who he could possibly be referring to?
This rule takes effect next week. I am happy to see brokers coming up with alternate solutions rather than removing stops for individual trades. It’s anybody’s guess how this is going to play out in the end