OANDA's FIFO requirement

First in First Out (FIFO) is a forex trading requirement that complies with National Futures Association (NFA) regulation. It is a requirement that the first (or oldest) trade must be closed first if a customer has more than one open trade of the same pair and size.

In order to address this, changes will be implemented that will require all trades that have a take profit (TP), stop loss (SL), or trailing stop (TS) to be a unique size. After these changes are implemented, the only scenario in which two trades of the same currency pair can be the same size is if neither trade has a TP, SL, or TS.

These changes will only impact customers who contract accounts from OANDA Corporation, this applies to both live and demo accounts. If you are not sure which division you contract with, please review our ‘ What division will I contract with when I apply for an OANDA account ’ FAQ.

FIFO changes came into effect on August 16, 2019.

After OANDA’s FIFO changes come into effect, any new trades entered on our OANDA platforms which do not comply with the FIFO requirement will be prompted with a warning prior to execution that the SL, TP or TS may cause a FIFO violation.

For additional information, please email fifo@oanda.com.

Please see some examples below of what will happen when users attempt to complete orders that are not FIFO compliant.

Limit / stop and entry orders are checked for FIFO compliance during trigger of their conditional price rather than during the order entry. If a limit/stop or entry order triggers and violates OANDA’s FIFO requirement, then the order is cancelled.

Customers will be able to check if their order was cancelled due to a FIFO violation under their activity history on OANDA or in their mailbox on the MT4 platform.

MT4 will have the same restrictions as OANDA’s proprietary OANDA platform. However, OANDA is unable to inform customers of these cancellations when they are running expert advisors (EAs), although they will still receive a message in their MT4 Mailbox.

• On August 16th, MT4 users will receive a message in their MT4 Mailbox whenever an order is cancelled due to OANDA’s FIFO requirement.

 OANDA example 1

OANDA example 2

OANDA example 3

OANDA example 4

MT4 example 1

OANDA example 1

OANDA example 2