Regulation Among Forex Brokers

Source: Investopedia 2020-06-02

Two entities serve regulation functions among forex brokers in an attempt to discourage and eliminate fraudulent practices: the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). These organizations publicize lawsuits they may pursue against any whose practices are deemed fraudulent or intentionally harmful to their customers.

It is valuable to do some research to find out whether a broker has an excellent reputation and has the functionality that you are looking for in a broker. This research can be conducted by checking out the NFA's homepage, and looking over Investopedia's broker reviews.

Most major forex brokers will allow prospective clients to use a practice account so that they can get a good understanding of what the system is like. It is a wise idea to test out as many platforms as possible before deciding on which broker to use.

Furthermore, because the forex market is a 24-hour market, most quality forex brokers will provide 24-hour customer service.

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U.S. Commodity Futures Trading Commission

Regulation Among Forex Brokers

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