FCM Regulated Forex Broker

In the United States a Forex broker must registered as a Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and a NFA member. The CFTC and NFA were made to protect the public against fraud, scam, and manipulation trade practices.

When selecting a prospective Forex broker, find out with which regulatory agencies it is registered with. The Forex market is labeled as an “unregulated” market, and it basically is. Regulation is typically reactive, meaning only after you’ve been trade out of your entire savings will something be done.

You can verify Commodity Futures Trading Commission (CFTC) registration and NFA membership status of a particular broker and check their company history by call NFA at (800) 621-3570 or by checking the broker/firm information section (BASIC) of NFA Web site at www.nfa.futures.org/basicnet/.

The NFA doing educative for investors about retail forex trading. They created an essay called, “Trading in the Retail Off-Exchange Foreign Currency Market”. The NFA recommends you read it before taking the forex trading. Among the registered broker, choose those with clean regulatory records and solid financials. Just stay away from non-regulated firms!

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