a very critic article about the Retail Forex Industry... what do you think?
Time for regulator to move on retail FX trading
By Paul Murphy at Financial Times
Back in the autumn of 2010, the Commodity Futures Trading Commission clamped down on the mushroom-like growth of retail foreign exchange brokers in the US. The regulator had cottoned on to the fact that many of these were systematically skinning their clients. They were doing this by simply offering excessive trading leverage to people who didn’t understand how leverage works in financial markets.
A CFTC proposal to limit leverage to 10 times initial margin met with howls of protest from the industry. “This is bad for America,” came the