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online trading forex
The North American Securities Administrators Association says that "off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud. Currency trading "has become the fraud du jour," according to Michael Dunn of the U..S. Commodity Futures Trading Commission has prosecuted more than 80 cases involving the defrauding of more than 23,000 customers who lost $350 million. "The average individual foreign-exchange-trading victim loses about $15,000, according to CFTC records" according to The Wall Street Journal. Commodity Futures Trading Commission (CFTC), which loosely regulates the foreign exchange market in the United States, has noted an increase in the amount of unscrupulous activity in the non-bank foreign exchange industry.S.S. . CNN quoted Godfried De Vidts, President of the Financial Markets Association, a European body, as saying, "Banks have a duty to protect their customers and they should make sure customers understand what they are doing.âIn August, 2008 the CFTC set up a special task force to deal with growing foreign exchange fraud. Often, the investorâs money is never actually placed in the market through a legitimate dealer, but simply diverted â stolen â for the personal benefit of the con artists.âThe forex market is a zero-sum game , meaning that whatever one trader gains, another loses, except that brokerageSome more useful information on online trading forex
online trading forex
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