Until 2000, Foreign Exchange was an entirely unregulated market in the USA, limiting the acceptance of Forex trading. In 2000, the Commodity Exchange Act (the Act) was amended by the Commodity Futures Modernization Act of 2000 to make it unlawful in the United States to offer foreign currency trading to retail customers unless the provider is a regulated financial entity as enumerated in the Act. The list of the US organizations enabled by the Act to exchange currency includes (but may not be limited to) holders of the following licenses:
Broker/dealers (B/D) licensed by the SEC or the NASD (SEC - Securities Exchange Commission; NASD - National Association of Securities Dealers).
Futures Commission Merchants (FCM) licensed by the NFA or the CFTC (NFA-National Futures Association; CFTC - Commodity Futures Trading Commission).
Commercial Banks insured by the FDIC (FDIC - Federal Deposit Insurance Corporation).
There are still many locations in the world that can/do offer services of online trading that are not under control of the US regulations. These organizations are free to offer their services anywhere in the world but may not market to the US. Some of these organizations are actually
stricter
than the US requires in regulating their businesses.
Equal Trading is one of these organizations, ensuring that your account is always as safe as it can be and that your trades are not manipulated by the Company.
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