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The global nature of this boundary-less market allows seamless access, e. Speculative trading in the retail forex market continues to grow. The most important criteria when selecting a forex broker are the regulatory approval status of the broker and which authority governs the broker. After due diligence, provide necessary licenses to eligible forex brokers to conduct forex trading business. Enforce required adherence to necessary capital requirements. Enforce detailed record keeping and reporting requirements regarding all transactions and related business activities. A detailed regulatory guide is available on the official NFA website.
10 million and most small businesses,” underscoring that these regulations are meant to protect the small investor. High-net-worth individuals may not be necessarily covered under standard regulated forex brokerage accounts. For short forex options, the notional transaction value amount plus the option premium received should be maintained as security deposit. For long forex options, the entire option premium is required as security.
This also implies no possibility of hedging while trading forex. Money owed by the forex broker to the customers should be held only at one or more qualifying institutions in the US or in money center countries. Care should be taken to verify each ownership, status, and location of each forex trading firm, website, or app before signing-up for a trading account. However, almost all such sites are hosted and operated from outside the US and may not be necessarily approved by the concerned authority in the host country.
US-based forex brokerage firms can be verified using their NFA ID, firm name, individual name, or pool name. Financial regulations require a fine balancing act, with constant room for changes as markets develop. Too little regulation may lead to ineffective investor protection. While too much regulation can result in lost global competitiveness and reduced economic activity. Want to learn how to invest? Get a free 10 week email series that will teach you how to start investing. Delivered twice a week, straight to your inbox.
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