How is FOREX regulated?

Discussion in 'Forex' 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.