FYI, I have asked the NFA via email to find out if www.refcofx.com is regulated by them.
For more info kindly see the reply below.
Dear Sir:
National Futures Association (“NFA”) is a membership organization whose activities are overseen by the CFTC, the government agency responsible for regulating all aspects of the U.S. commodity futures industry. The CFTC has delegated to NFA the responsibility for processing applications for CFTC registration and granting CFTC registration when appropriate.
Thank you for your e-mail requesting information on RefcoFX.com. Based on the information provided, a search of CFTC and NFA records reflects no record of registration or application for registration for this entity.
The Commodity Exchange Act, as amended in December 2000, makes it clear that the CFTC now has jurisdiction over off-exchange trading of foreign currency futures or options on behalf of retain U.S. customers. Off-exchange trading of foreign currency futures and options contracts on behalf of retail customers is legal only if conducted through CFTC-registered Futures Commission Merchants, financial institutions, broker dealers, insurance companies and their affiliates, financial holding companies or investment bank hold companies. Off-exchange trading of foreign currency futures and options with retail customers by organizations other than the above is a violation of the CEA.
A CFTC advisory on foreign currency trading is available on the CFTC’s web site at www.cftc.gov/opa/press01/opaadv06-01.htm. A consumer advisory regarding foreign currency trading fraud is also available on the CFTC’s web site at www.cftc.gov/opa/enf98/opaforexa15.htm. You may wish to contact the CFTC at the address or telephone number below to obtain more information regarding the CFTC’s oversight of foreign currency trading.
Commodity Futures Trading Commission
Division of Clearing & Intermediary Oversight
Three Lafayette Centre
1155 21st Street, Northwest
Washington, DC 20581
(202) 418-5237
If we can be of further assistance, please feel free to contact us at [email protected] or you can call us at either of the telephone numbers listed above. Representatives are available weekdays from 8:00 a.m. to 5:00 p.m. (Central Time).
For more info kindly see the reply below.
Dear Sir:
National Futures Association (“NFA”) is a membership organization whose activities are overseen by the CFTC, the government agency responsible for regulating all aspects of the U.S. commodity futures industry. The CFTC has delegated to NFA the responsibility for processing applications for CFTC registration and granting CFTC registration when appropriate.
Thank you for your e-mail requesting information on RefcoFX.com. Based on the information provided, a search of CFTC and NFA records reflects no record of registration or application for registration for this entity.
The Commodity Exchange Act, as amended in December 2000, makes it clear that the CFTC now has jurisdiction over off-exchange trading of foreign currency futures or options on behalf of retain U.S. customers. Off-exchange trading of foreign currency futures and options contracts on behalf of retail customers is legal only if conducted through CFTC-registered Futures Commission Merchants, financial institutions, broker dealers, insurance companies and their affiliates, financial holding companies or investment bank hold companies. Off-exchange trading of foreign currency futures and options with retail customers by organizations other than the above is a violation of the CEA.
A CFTC advisory on foreign currency trading is available on the CFTC’s web site at www.cftc.gov/opa/press01/opaadv06-01.htm. A consumer advisory regarding foreign currency trading fraud is also available on the CFTC’s web site at www.cftc.gov/opa/enf98/opaforexa15.htm. You may wish to contact the CFTC at the address or telephone number below to obtain more information regarding the CFTC’s oversight of foreign currency trading.
Commodity Futures Trading Commission
Division of Clearing & Intermediary Oversight
Three Lafayette Centre
1155 21st Street, Northwest
Washington, DC 20581
(202) 418-5237
If we can be of further assistance, please feel free to contact us at [email protected] or you can call us at either of the telephone numbers listed above. Representatives are available weekdays from 8:00 a.m. to 5:00 p.m. (Central Time).
