Petition to repeal NFA Compliance Rule 2-43(b) for FIFO / Offsetting Transactions for ForEx trading
Visit & sign the Petition at the official White House “People Voice” site: http://wh.gov/ilWF8
(100,000 votes needed by October 19, 2014)
“I wish to express opposition to NFA Compliance Rule 2-43(b) concerning Offsetting and FIFO (First In-First Out) Transactions and call for the repeal of this section as it pertains to retail-level ForEx trading for US residents and brokerages.
This rule has since prohibited the freedom to utilize beneficial trading resources such as offsetting (commonly referred to as ‘hedging’), as well as the freedom to close each trade, choose take profit, stop loss and trailing stop values for each order without the interference currently caused by the FIFO aspect of the rule. I did not ask for these restrictions and firmly disagree that those freedoms now prohibited ‘were of no benefit to the trader’.
I believe that restoring these freedoms will help ForEx clients manage trades more successfully.”