Pharaoh
Brigadier General
- Messages
- 20,307
Yeah, it was the special client-screwing differential slippage plugin that they got busted for.
I'd have to do some digging to find cases where the NFA forced a broker to pay back a trader. There are rare, but if you look up a few of the larger brokers, they are usually listed as "reparations cases". Although NFA brokers are also prone to doing "stupid broker tricks", the number of complaints I see about failure to return money owed to a trader against those brokers here at the FPA is tiny compared to unregulated brokers. That alone increases my confidence.
The NFA also put a quick and painful stop to the practice of "compliance audits" before withdrawals for regulated brokers. If a broker wants to claim a price feed error to cancel a trade, they have a very limited time to do that.
Now if only the NFA and CFTC hadn't screwed up leverage, hedging, etc.
I'd have to do some digging to find cases where the NFA forced a broker to pay back a trader. There are rare, but if you look up a few of the larger brokers, they are usually listed as "reparations cases". Although NFA brokers are also prone to doing "stupid broker tricks", the number of complaints I see about failure to return money owed to a trader against those brokers here at the FPA is tiny compared to unregulated brokers. That alone increases my confidence.
The NFA also put a quick and painful stop to the practice of "compliance audits" before withdrawals for regulated brokers. If a broker wants to claim a price feed error to cancel a trade, they have a very limited time to do that.
Now if only the NFA and CFTC hadn't screwed up leverage, hedging, etc.