How is FOREX regulated?

Discussion in 'Forex Trading' started by bundlemaker, Jun 4, 2005.

  1. I'm curious about how FOREX managed accounts or pools are regulated in the US. In futures I know I need a series 3 and CFTC filings. But for the life of me I can't find anything preventing an individual from operating as a forex advisor with out any regulation. Any comments or links to info appreciated.
     
  2. Forex is un-regulated. And as far as getting bad advice from a "Forex Advisor" don't worry, go with your gut and make your own decisions.

    Since when does any financial advisor know anything?
     
  3. bundlemaker,

    I believe if you are able to withdraw your commisssion from your clients account through a limited power of atty, that might be a detail that could be enforced, by the NFA...

    If you were trading other peoples money you would need to trust them to pay you, as I do not believe you can set it up any other way in retail spot Forex in the USA.

    Michael B.