To get around the US FIFO restrictions, which prevent you from closing a newer trade while an older trade of the same lot size is still open, I recommend adding a feature to "dither" the lot size of each trade. For example, you set the target lot size to 0.05 and enable FIFO dithering. The first trade is opened at the target lot size of 0.05. If another trade is opened, it would be at 0.04 or 0.06. That would allow you to close the last trade first. Other EA tools allow this.
US FIFO Restriction Workaround Feature Request
- Thread starter terrabola
- Start date
Which broker do you reccomend?
scrappyjedi
Member
At the moment Oanda has the FIFO Restrictions more than others; however, you can check this article out for more info on how to avoid FIFO violations.
Galileo FX FIFO Compliance: Avoid FIFO Errors, FIFO Rules Explained &
For traders using automated systems like Galileo FX, encountering First-In, First-Out (FIFO) rules can sometimes present a challenge, especially if you're trading in the United States where FIFO regulations are strictly enforced. However, managing FIFO compliance need not be a cause for concern...
store.galileofx.com
Also you have to do your own diligence when choosing the right broker. Don't settle for recommendations.
scrappyjedi
Member
Each broker has their own regulations/leverage/pros/cons so that is very true. Choose the one you feel comfortable with!
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