The retail foreign exchange market is growing rapidly, but it suffers from far too many unscrupulous brokers. Now a range of new regulatory powers and higher capital requirements will help weed out the rogue firms and eradicate fraud and manipulation, according the senior Democratic commissioner at the CFTC.
A diverse array of banks, brokers, online platforms and exchanges are jostling for position in this rapidly growing market, offering several different approaches to trade execution and counterparty risk.