What Is A Forex Dealer?
A forex dealer provides online trading services to allow individuals to speculate on rapidly changing foreign exchange rates. Forex Dealer Members (FDMs) are regulated by the Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA) in the United States, as well as by national and local regulatory bodies where they conduct business, and are held to stringent business and ethical standards.
The public has recognized U.S. forex companies as leaders in technology, with three of the leading forex firms named to the Deloitte Technology Fast 500, a ranking of the top North American technology companies, for three consecutive years. The leading U.S. forex companies have also been named to the Inc. 500 list of the country’s fastest growing companies. In 2006, the top FX companies made up nearly 20 percent of the total number of financial services industry firms on the Inc. 500 list. As indicated by these rankings, the popularity of this growing market with active traders has helped to make foreign exchange one of the fastest growing industries in the United States.
Read more about this topic: Foreign Exchange Dealers Coalition