CFTC Continues to Crack Down
6 Years ago | April 25, 2014 00:00:00
There is ongoing talk that regulation in the U.S. has gone too far and it has not only driven retail forex brokers offshore, but it has made it difficult for new firms to open (note recent decision by Institutional Liquidity to close its U.S. operations) in this country. Whatever the case, one regulation that is strictly enforced is that U.S. residents are not permitted to open forex trading accounts with a forex broker unless it is a Retail Foreign Exchange Dealer (RFED) registered with the CFTC. See the following press release for an offshore forex broker that has been caught soliciting U.S. residents.
