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Old 2009-11-25, 01:59 AM   #619 (permalink)
pipdetector
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Trading Live with:
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I have just got the message from FXDD that they are switching to full compliance with NFA as far as margin and backoffice records are concerned .

Quote:
FXDD’s back office is compliant with all CFTC and NFA regulations regarding hedging and FIFO. Also, leverage will be adjusted to comply with NFA regulations [...]
Quote:
Leverage will be set at 100:1 for major currencies; all others will have a leverage of 25:1. The only currencies affected by the 25:1 will be the USD/TRY and the USD/MXN. Gold and silver leverage will be set at 100:1 We urge you to examine your positions now and determine if and how the change in leverage will affect you.
Which means that they will not be a preferred broker for RM and GT any more as from what I remember the EAs author does not recommend 100:1 leverage.

Also I do not know what to make of:

Quote:
FXDD’s back office does not recognize hedging. FXDD’s back office is a position based system and all opposing orders are offset immediately. Going forward the official FXDD account statements will show opposite positions being offset immediately. Please note: this change will not affect your trading style and will not affect your EA if you use one.
Is it the time to say goodbye to FXDD?
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