Sorry, but all these details about the importance of the NFA regulation are completely irrelevant. Fact is that the biggest violations of investor rights and the biggest fraud cases in history have happened under the NFA, and under other large regulators. The regulator is a way to cover ass for large institutions. It was never meant to protect retail investors. By dealing with regulated companies large institutions can, when they lose money, claim that they did their due diligence and cannot be sued for negligence.Both ILQ and their unfortunate experimental client ATC Brokers, found that even small deviations can be very costly, especially in this post disaster environment.
Recognize that as a retail investo your alternative in trading is to go rogue, whereby if you should ever become successful, the likelihood of receiving your claimed proceeds is virtually nill.
Recognize that some firms are really endeavoring to develop solid businesses in accordance with the rules of law, while under the most stringent jurisdictions in the world.
Make sure you deal only with these firms, if you want any hope of ultimate success. Why else would they lay claim here, when it is so easy to commit fraud elsewhere??