Ada, Mich. July 07, 2009 – As many forex dealers sent notice last week of potential conflicts in compliance with a new National Futures Association (NFA) rule that requires a "first-in, first-out" (FIFO) method of trading, GFT announced full compliance as well as a $200 account-opening bonus to traders seeking a compliant forex dealer.

The $200 bonus is available to new GFT customers who open a standard trading account with a minimum balance of $2,500. However, GFT President and CEO Gary L. Tilkin said traders who open larger accounts may be eligible for even more perks.

“Traders with accounts larger than $2,500 will be not only receive this limited-time account bonus, but could also be eligible for even more bonuses through our new account packages program,” he said. “It’s quite appealing given that you get free tools, news and other benefits.”

Traders who choose to open mini forex accounts, which start at $250, could be eligible for a $50 account bonus. Both account bonus offers from GFT are subject to terms and conditions, which can be read here.

“We’re pleased to offer this account bonus program as a way to help new customers put our services and award-winning trading platform the test,” said Tilkin.
GFT ranks among the top online trading companies in the world and offers a wide range of trading services, from forex trading services around the world, to market derivatives trading in Europe, Asia, Middle East and Australia.

GFT’s adjusted net capital is more than $80 million, according to the latest figures released by the CFTC, far exceeding the NFA’s requirement of $20 million.

Earlier this month, in preparation for the new rule, some forex dealers announced they will no longer offer stop-loss or limit orders as a way to exit an existing market position.

Although the new rule does not prohibit these orders, position-based trading systems to not comply with the new FIFO matching system, further limiting traders’ market strategies and risk-management techniques.

GFT’s award-winning DealBook® trading platform already complies with the new NFA rule, and offers a full range of entry and exit orders, including stops, limits, automated trailing stops, parent and contingent orders and order cancels order. The platform, which was created in 1998, is designed around a net-based system rather than a position-based system.

In a position-based system, it is possible for a trader to take multiple positions at different levels on the same market. For example, a trader could have three positions in the EUR/USD pair and then close out each position based on its individual performance, which would violate the FIFO rule.

In a net-based system such as GFT's, when a trader enters a new position in a market where he or she already holds a position, the new position is simply added to the old position and the price difference between the two is averaged. So it’s not possible to hold multiple positions in the same pair and therefore it is not possible to violate the FIFO rule. See an example here.

About GFT: GFT is worldwide leader that provides service, support and award-winning trading technology for trading online spread bets (U.K.), spot foreign exchange (worldwide) and contracts for differences (Europe, Australia). The company owns and operates the DealBook® brand of online trading platforms GFT launched its online forex trading services in 1997, becoming a pioneer in the technology used in the online trading industry. Today, GFT is the brand name of several divisions and subsidiaries throughout the world. GFT's world headquarters is based in Ada, Mich., with additional U.S. offices located in Chicago and New York and global offices in London, Tokyo, Sydney Singapore and Dubai.

Forex Trading involves high risks, with the potential for substantial losses and is not suitable for all persons. Past performance is not necessarily indicative of future results. ©2009 Global Futures & Forex, Ltd. All rights reserved. CD12U.023.071509