According to the SEC, retail investors need to be wary of “get rich quick” investment schemes that promise significant returns with minimal risk through forex trading. Fraud is very common in forex trading, especially in unregulated foreign nations.
Contact the appropriate federal regulator for information about firms and individuals of interest. You can verify CFTC registration and NFA membership status and check disciplinary history by calling the NFA at 800-621-3570. You can also research specific firms and brokers on the NFA’s Background Affiliation Status Information Center website.