FX hedging?

R

robthequant

I noticed most FX accounts have a hedging feature. Meaning if I execute limit buy order and limit sell order I end up with 2 open positions.
To me, that doesn't make sense. I'd like to scale in and out of a position with limit orders without hedging, just like in stocks.
Are there any FX brokers/accounts that don't use hedging? Can I turn this feature off somehow?
 
https://www.tradingheroes.com/get-around-fifo-and-hedging-us-broker/
If you are new to trading, let me explain these two concepts really quickly. Here are the informal definitions for each term:

  • Hedging: Holding both long and short positions for the same currency pair, in the same account.
  • FIFO: Stands for: First In First Out. If your broker is required to adhere to FIFO, then for each currency pair, they must make you close out your oldest trades before you can close out trades that you opened more recently.
Traders in the United States have to adhere to these rules, per US law.
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So any forex broker operating under U.S. regulations will not allow hedging. Such as from https://www.100forexbrokers.com/broker-search for Regulation NFA.
BD Swiss CySEC, FSC, NFA
ATC Brokers NFA, CFTC, FCA
Forest Park FX NFA, CFTC
FOREX.com CIMA, NFA, CFTC, FCA, IIROC, ASIC, FFA Japan, MAS, SFC of Hong Kong
Fortress Capital NFA, CFTC
Interactive Brokers NFA, CFTC, FCA, IIROC, NYSE, FINRA, SIPC
MB Trading NFA, CFTC, FINRA, SIPC
OANDA NFA, CFTC, FCA, IIROC, MAS
thinkorswim NFA, SIPC, FINRA
TradeKing NFA
TradeStation Securities NFA, CFTC, FINRA, FCA
More...
 
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