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Chapter 39, Part III. Forex Scam - Emergency Call. Page 2

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 28, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    CFTC is the Commodity Futures Trading Commission continued

    The CFTC regulates trading on the 11 U.S. futures exchanges, which offer numerous kinds of futures contracts. It also regulates the activities of some three thousand commodity exchange members, 360 public brokerage houses (futures commission merchants), about 38,000 commission-registered futures industry salespeople and associated persons, and 2,500 commodity trading advisers and commodity pool operators. Some off-exchange transactions involving instruments similar in nature to futures contracts also fall under CFTC jurisdiction.

    The CFTC maintains large regional offices in Chicago and New York, cities in which eight of the nation's 11 futures exchanges are located. Smaller regional offices are located in Kansas City and San Francisco, and there is a sub-office of the Chicago regional office in Minneapolis.


    Pipruit: Wow. That sounds impressive. I can imagine what could happen if there was no CFTC. How we could stand against frauds and scam? There would be too much.

    Commander in Pips: In general you’re right, absence of regulators such as the CFTC could give scammers wide space to act and there could be many more frauds in this case. In fact to take investors money will be simpler than taking candy from a baby.

    So, the major mission of the CFTC is to protect market participants from different kind of frauds, illegal manipulations on the market, mostly on commodities, futures and options markets. Although the forex market is over-the-counter, the CFTC is very useful here as well, since it could give you information about reliable or non-reliable brokers. The CFTC has its own website: U.S. Commodity Futures Trading Commission

    If want to file a report on some suspicious broker, manipulation or authority, you may contact CFTC from here:

    File Complaint or Report Suspicious Activities - CFTC
     
    #1 Sive Morten, Dec 28, 2013
    Lasted edited by : Oct 16, 2016
    Rehan Uddin likes this.
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