ok guys. This won't effect everyone. Although if you have FXCM I'd get out now. I found this website with some good info.
Limit orders & stops, FIFO and the new no hedging rule | Forex Trading
Here's an except giving an explanation as to why Oanda won't do the same thing as FXCM.
Some brokers are currently only applying FIFO to hedging. Talk to your broker asap to find out exactly how they are going to handle it.
tony: Jordan do FIFO chang our trading for long term?
jordan: confirming with Oanda right now
jordan: is Oanda getting rid of stops and limits (take profits) orders as per the new CFTC approved no hedging rules.
OANDA: No. New rules should not affect the FXTrade platform, as we are already in compliance with hedging restrictions and FIFO rules.
Regarding the FIFO ruling and it's application by various brokers:
1. There is no consensus on the rule and how it is going to be applied. Some brokers are stating that MT4 will not be used (until MT5 is released) b/c it won't be compliant, and others are saying that they have it compliant so don't worry.
2. There is no consensus on whether it is just meant for hedges or for all positions (such as would be used in a grid strategy). Some brokers say it is for all and others just for hedges.