Looks like FXDD (one of the brokers that I use when testing EAs) finally obtained NFA membership. I know a lot of traders were complaining that FXDD shouldn’t be trusted since they’re weren’t regulate, so there you have it now, they’re fully regulated. Does NFA membership instantly make a broker trustworthy? No, it does not. This is a subject which I shall save for another time. For now I’m just playing the role of a news agency and “spreading the news” sort of speak. Here is FXDD’s press release (without the promotional stuff that is obligatory these days it seems):
FXDD is pleased to announce its successful registration with the Commodity Futures Trading Commission (CFTC) and its newly enacted status as an official member of National Futures Association (NFA). Going forward, FXDD will operate as a fully registered Forex Dealer Member (FDM) in accordance with the rules and regulations of CFTC and NFA.
“We have always focused on compliance and made sure we were up to speed on new changes in the applicable rules and regulations. Throughout the registration process we worked closely with the NFA and came to appreciate the hard work and effort the NFA staff puts in to manage a firm through the registration process. Needless to say, I am glad that we’ve finally obtained member status. This is a very important and long awaited moment in the life of our company,” said James E. Green, Chief Legal Counsel and Head of Compliance for FXDD.
Now go hit the market and make some pips!
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