NFA Brochure all traders should read. (newbies especially)

[DAT]

The brochure contained at this link will prove to be very very useful. Take a good read before commiting funds to any firm http://www.nfa.futures.org/investor/forex/forex.pdf

[mishak]

This 10-pages NFA brochure contains basic knowledge about the forex market including options.
The most important part is "The Risks of Trading in the Forex Market", page 7 and probably the Glossary on page 10.

[DAT]

Mishak,

That's why it is useful, it gives the very basic explanation to the new traders. It also clears up questions that I have seen even some senior posters ask on this forum. I'm not sure if you are putting it down or not so I wanted to make it clear why I think it adds value.

[nadeeb]

Before opeing an account, I also suggest that all traders use the BASIC function on the NFA website. It allows you to do a background check on your individual broker and the IB/ clearing firm that you choose to open an account with.

Regards,

Nader

Email: nadeeb@ProEdgeFX.com

[west33445]

The idea of a background check should be standard.

All it takes is hearing one horror story about "funds lost in transition", or companies "liquidating" overnight to put the fear of due dilegence into anyone who is trading in a cash market.

Great posts - it's good to see that this community is looking out for our own.

GL/GT to all.

[alasrado]

Thank You for this info

[sasfx]

Just to let you know not all forex companies are NFA regulated.

The company I work for is FDIC regulated because we are a bank we do not need to carry NFA regulations to be able to offer forex trading.

Thought would let you know but your point is good people really need to do these checks and not get carried away by tight spreads, no commissions we can make you millionaires syndrome!

[sasfx]

Just to let you know not all forex companies are NFA regulated.

The company I work for is FDIC regulated because we are a bank we do not need to carry NFA regulations to be able to offer forex trading.

Thought would let you know but your point is good people really need to do these checks and not get carried away by tight spreads, no commissions we can make you millionaires syndrome!