Is It Safe to Trade FOREX?
This is not the issue it was even five or six years ago. You can thank the NFA and CFTC. The fly-by-nights are mostly a thing of the past. Unfortunately, it entails throwing out some baby with the bath water. Some very reliable and sound small firms have either closed shop or been absorbed by a larger FOREX broker. It now requires $20 million to be a FOREX FCM. An unguaranteed IB requires $45,000. All brokers registered with the NFA will display their ID number somewhere on their website. If not, ask for it. Be careful, some very small overseas firms with no registration have taken names very close to larger reputable firms.