US Forex brokers have taken different measures in order to comply with the NFA’s foolish requirements. The requirements lead to plenty of misunderstandings and basically made more damage than benefit to the traders. But that’s not surprising.
Some brokers updated their software, some shifted clients overseas and some brokers simply sold out and either closed or moved offshore.
Now it appears that some offshore brokers make the most of this situation by promoting products and services that the NFA has ingeniously limited.
ACM which is one of the largest Swiss brokers, for instance now shamelessly (and rightfully in my own opinion) promotes Full Stop and Limit Orders – the issue has become a major selling point for non-US brokers just like FIFO and CFDs amongst other things. This pretty much concludes the NFA’s fiasco in regulating the Forex market: less competition for traders’ pockets, less risk instruments and major funds shift to overseas companies. Way to go NFA!
ACM’s promo (note how the ‘efficiently manage your risk’ and ‘unlike some other brokers’ points are emphasized…):
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