We have heard lots of NFA listed broker frauds but is NFA doing anything in protecting our money?
In my personal experience, I have to say that NFA is nothing more than an organization, created by the brokers themselves, to make it appear to traders, that they are doing something to protect the trader - but the reality is, it is not protecting us and rather the opposite - protecting the brokers instead.
Currently, NFA is busy with the NET-CAP increase. What is this issue all about?
From my point of view, instead of actively going against erring brokers, this NET-CAP issue is to prevent ill-funded brokers from making business. One of the reasoning is that ill-funded under-capitalized brokers are cheaters. Well, does that imply well-funded brokers dont cheat? The answer is NO! Big brokers cheat too.
I am not against the NET CAP increase - i personally welcome it. But I beg NFA to take more actions against cheater brokers who'd stole money from us.
In my personal experience, I have to say that NFA is nothing more than an organization, created by the brokers themselves, to make it appear to traders, that they are doing something to protect the trader - but the reality is, it is not protecting us and rather the opposite - protecting the brokers instead.
Currently, NFA is busy with the NET-CAP increase. What is this issue all about?
From my point of view, instead of actively going against erring brokers, this NET-CAP issue is to prevent ill-funded brokers from making business. One of the reasoning is that ill-funded under-capitalized brokers are cheaters. Well, does that imply well-funded brokers dont cheat? The answer is NO! Big brokers cheat too.
I am not against the NET CAP increase - i personally welcome it. But I beg NFA to take more actions against cheater brokers who'd stole money from us.