Nickb241990
New member
Hi I'm very new to this. I'm using mt5 and I'm a demo account to test it out. How do I change from trading forex to anything else. I go to new orders but all show up is currency. I want futures and crypto
Changing trading types
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pfunkyfize
New member
I'm based in the US and very new to this too. I tried a demo account that allowed making buy and sell trades in the same chart and made 1,000 USD in demo money. Then I got a live account with forex.com and find out that FIFO trades and only buy or sell trades can be made at one time on the same chart, not both. That messed up my strategy. First In First Out (FIFO) trade closure messed me up because you can only close trades in the order that they were made. These made my trading much harder. The US has to follow these rules so brokerages working in the US have to enforce those rules or get messed by regulators.
The FIFO rule is a regulatory requirement in the United States that all US-based brokerages must follow. This rule mandates that trades be closed in the order they were opened, which can indeed complicate certain trading strategies that rely on flexibility. Additionally, the restriction on making both buy and sell trades on the same chart is another regulatory measure that we must enforce to remain compliant.
What I would suggest is you try to use a different broker
pfunkyfize
New member
For sure! I had found the OX Securities broker based in Australia right after I posted my frustration over Forex and their FIFO non-hedging selves. I am the proud owner of an OX demo account now as of 5 hours ago and have discovered it has hedging and no FIFO restrictions. Lovin' it. Will be making a live account in a week or two over there.
Glad to hear about that! Remember to take proper risk management when going live!
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