NFA began an arbitration program in 1983, providing a convenient, inexpensive and prompt method for investors to resolve futures-related disputes. Since that time, NFA arbitration has become the primary venue for dispute resolution for retail futures and forex customers.
In October 2001, NFA became the first regulatory organization in the financial services industry to accept arbitration claims online. Since then, NFA has enhanced its website so that customers are now able to file their initial arbitration or mediation claims online. Within minutes, NFA sends a reply stating that the claim has been received and, as the case progresses, claimants and respondents can check the status of the case online.
NFA also offers a mediation alternative during the arbitration process in cases where the total amount of the arbitration claim is $150,000 or less. Mediation is a settlement process where the parties work together with a mediator to find a mutually agreeable solution. Settling a dispute through mediation can save the parties time and money.
You can check the registration status and disciplinary history of any derivatives firm or individual.
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