The tightening of the rules and regulations around retail FX in the US is something that should be welcomed by the whole of the industry. Except that the authorities there seemed to have gone from one extreme to the other.
It’s a case of being careful what you wish for. Most legitimate players have welcomed greater regulatory oversight. The US has moved swiftly from a completely unregulated market where any two-bob outfit could set up shop, to one that requires so-called forex dealer members to post a minimum of $20 million of net adjusted capital to operate.
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