The USA has a highly regulated financial services industry. Due to
the diverse range of financial product available, there are many
different regulatory authorities and licensing commissions tasked with
overseeing the financial services industry in America.
The ones most relevant to online Forex trading include the Commodity Futures Trading Commission (CTFC) and the National Futures Association (NFA). These two regulatory bodies oversee the general running of many US-facing Forex brokers.
The important thing to understand here is that, although the US online Forex market appears heavily regulated, this particular regulatory system is more of a system of ethics than a direct legal guideline when it comes to the world of online trading. Online Forex trading is essentially a decentralised industry that operates with no central governing body at this time. Therefore, similarly to many other global territories, it isn’t illegal to trade online if you live in the US. If a broker has the means to accept traders from the US, you may trade with them. It’s that simple. Traders will never be penalised for this action as it’s seen as the broker’s responsibility to ensure that they operate within the legal boundaries of their customers’ residing jurisdictions.
With the above said, brokers that have been approved by the CTFC (US) and the NFA (US) are however seen as “legitimate” and “regulated” brokers that can accept US traders.
The ones most relevant to online Forex trading include the Commodity Futures Trading Commission (CTFC) and the National Futures Association (NFA). These two regulatory bodies oversee the general running of many US-facing Forex brokers.
The important thing to understand here is that, although the US online Forex market appears heavily regulated, this particular regulatory system is more of a system of ethics than a direct legal guideline when it comes to the world of online trading. Online Forex trading is essentially a decentralised industry that operates with no central governing body at this time. Therefore, similarly to many other global territories, it isn’t illegal to trade online if you live in the US. If a broker has the means to accept traders from the US, you may trade with them. It’s that simple. Traders will never be penalised for this action as it’s seen as the broker’s responsibility to ensure that they operate within the legal boundaries of their customers’ residing jurisdictions.
With the above said, brokers that have been approved by the CTFC (US) and the NFA (US) are however seen as “legitimate” and “regulated” brokers that can accept US traders.
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