Where to Check for Legitimate Forex Traders

Posted by Phoebe Millano

To find out if the Forex traders with whom you plan to trade are registered, regulated, or entities that are outside The United States Commodity Futures Trading Commission (CFTC) jurisdiction, you can check the lists of regulated Forex institutions on the following websites.

Some institutions outside the CFTC's jurisdiction do not appear on any of these lists or in other readily-available places:

• Federal Reserve Board (www.federalreserve.gov)
• Federal Financial Institutions Examination Council (www.ffiec.gov)
• Federal Deposit Insurance Corporation (www.fdic.gov)
• U.S. Securities and Exchange Commission (www.sec.gov)
• The Office of the Comptroller of the Currency (www.occ.treas.gov)
• Office of Thrift Supervision (www.ots.treas.gov)
• National Credit Union Association (www.ncua.gov)
• National Association of Securities Dealers Regulation, Inc. (www.nasdr.com)
• All U.S. Government web sites can be located through links at www.firstgov.gov
• Your state Attorney General's office and state banking, insurance and securities regulators (which often have their own web sites).