BROKERS FOREX
How safer is my money invested on CFTC registered forex brokers.?
Forex in the US, outside of futures and options, is completely unregulated. The reason is that in the US, if you were holding a 5 Euro note, you could sell it to anyone at any price they would accept in Dollars, Yen or cookies. There are no rules other than ordinary rules under common law. They cannot steal from you, in the sense, it is against the law to embezzle, but they can quote any price they want for exchanges.
So, for example, if the market price is 1.35 Dollars to the Euro, they can quote you 1.33 or 1.35 or 5.00 to the Euro. It isn’t fraud, they can do anything they want and you only trade with them because it is a dealers market. They cannot stay away from market for long, just long enough to do margin calls and sweep up money from vulnerable customers.
There is tight regulation in the United Kingdom and none at all here.
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