NFA (National Futures Association)– it is the National Futures Association, organized in the United States in 1976, one of the most serious and respected in the world of regulators brokerage services. The Association was established as a self-sufficient and self-regulatory authority "to protect the rights of participants in the futures market to protect the ethics of futures and other (including foreign exchange) markets and protect the interests of traders and investors.". All brokers have received its license have to obey its requirements and the Stock Exchange, they are trading futures, namely financial security, ethical behavior, enforcement of laws regulating the U.S. Federal financial order giving orders and issuing reports on the stock exchange and internet commerce size of position limits, the determination of price limits traders, trade practices and standards of conduct. Exchange rules violations are punishable by fines, suspension or withdrawal of the license NFA.
NFA as fighting fraud brokers.
- NFA provides a full inventory of brokerage companies, decided to engage in trading securities and currencies on any of the U.S. futures exchange of the origin of their finances to a full financial audit and accounts of order execution
- NFA has the right to refuse or limit the rights of brokers on futures exchanges in the U.S.
- NFA tough on ethics of commercial brokerage firms, brokers warning of the risks of exchange for traders and investors, minimum capital required for a brokerage firm, testing and licensing of professional knowledge workers brokerage companies, etc.
- NFA has the right to apply organizational and financial sanctions against brokers - violators of the «warning letter» for the slightest offense, to a fine of up to 250 thousand U.S. dollars, suspension and revocation of licenses.
- 5. NFA is working closely with the FBI, CFTC, FBI and other U.S. law enforcement agencies.
Innovation NFA
- Since 1993, the NFA has rules «about telemarketing» to prevent the hard evidence of fraud among forex brokers and exchanges. Under the new rules brokers are required to maintain with NFA all promotional materials before releasing them into the air, as well as to maintain and keep all records of telephone conversations with customers.
- Since 2001, the NFA has become the first financial regulatory body, extend your license online forex brokers and exchanges, giving a powerful impetus to the development of online trading forex and futures trading on the stock exchange in the world;
- Since 2008. NFA for brokerage companies controlled by it banned in the futures market and forex Locke / castle / hedge. Innovations usually 2-43 (b) is Member NFA NFA Forex Dealer may open position compensating client account, and shall indemnify the warrants on the basis of practice FIFO (first opened – the first closed).
Among forex brokers licensed NFA received few brokerage companies in the world -
- FOREX.com
- Forex club (Форекс Клуб)
- FXDD
- BMFN
All of these brokers have this license are included in the top league of recommended brokers and dealing centers, as and the remaining 17 criteria to assess their work have good results.
Separate line is DC Ikon Group (this broker is in the third (lower) world league rankings forex brokers because of penalty points received when they did not pay their trader - a student of the Masterforex-V Academy who earned-profits. Details are provided in the article "Ikon Group has not paid the trader almost $ 20K? " And in chapter How to check the reliability of the broker with whom you are going to work
In the ranking of broker’s forex broker license is given the highest of 70 points, as the two other most influential licenses dealing center in the world - CFTC и FSA
