National Futures Association
a.k.a. NFA
The US industry watchdog for futures and retail forex firms; brokers serving Americans must be members.
The National Futures Association (NFA) is a self-regulatory body for the US futures and forex industry. It works alongside the government regulator, the CFTC: it registers firms, writes rules, audits them and disciplines the ones that misbehave. A retail forex dealer serving US clients has to be registered and an NFA member.
Its public lookup tool lets you check a firm's registration and disciplinary history. Spending five minutes on it before you deposit money is one of the cheapest bits of protection in trading.
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