Just to be clear, I am an active trader with about $30k invested in forex.
I use automated software with an FXCM (UK) account. Using the cooltrade software and the UK account I can do LIFO, (Last-In, First-Out) trading. That allows me to take profits as I make them.
Whereas, with a US account you are forced to sell the positions as FIFO (first-in, first-out) which many times meaning having to sell positions at a loss.
Hi StockTrader,
If you have an account with FXCM UK and it’s being transferred to FXCM US due to the CFTC rules, you will still be able to close trades LIFO. You will have access to the same platform functionality with the exception of hedging being disabled.
FIFO will still be the default setting, meaning that if you execute a market order without specifying a ticket to close then the orders will be closed by FIFO order. But if you specify which ticket to close through the open positions window, then you can close the individual tickets in any orders.
Let me know if you have any additional questions.
-Jason