About NFA, CFTC and broker

[watermav]

Im new in the FX market and looking for a good borker for me ?
and also wanna know how NFA and CFTC works if the broker file bankruptcy or got into any trouble ?

Any advice would be appreciated.

regards
watermav

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[jackvdo]

The best place to find out about registered brokers who have run into some sort of trouble with the NFA is their news releases which can be found at http://www.nfa.futures.org/news/newsRelList.asp.

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Originally Posted by watermav

Im new in the FX market and looking for a good borker for me ?
and also wanna know how NFA and CFTC works if the broker file bankruptcy or got into any trouble ?

Any advice would be appreciated.

regards
watermav

Personally I think it is a good idea to trade with brokers outside the U.S. that are not regulated by NFA nd CFTC. Of course it is very important to choose a broker that is not likely to file bankruptcy. Switzerland, U.K. and Australia are better and have better regulation and banking industry in my opinion. I prefer MIG FX, FXCM UK, and AC Markets. In Switerland, Forex brokers are registered as banks and regulated by the Swiss Dept of Finance. THere is probably more to worry about in the U.S. than there.

Goodluck!

Scott

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