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February 5, 2004
NFA publishes investor guide to off-exchange foreign currency trading
February 5, Chicago - National Futures Association (NFA) announced today that it has published a new brochure to help investors understand the off-exchange foreign currency (forex) markets.
Trading in the Retail Off-Exchange Foreign Currency Market: What Investors Need to Know presents an overview of the forex markets, how foreign currencies are traded, the risks involved in trading and a trader's rights and obligations. The brochure also contains a glossary of terms and a listing of additional resources.
"The brochure is meant to be just one element of the due diligence every individual should perform before making investment decisions," says Senior Vice President of Strategic Planning and Communications Karen Wuertz. "Investors should also consider their financial situation and objectives, consult with a financial advisor and conduct a background check of the firms and individuals they are considering doing business with."
Investors can check the registration and disciplinary history of futures industry professionals through NFA's Background Affiliation Status Information Center (BASIC) on NFA's Web site (www.nfa.futures.org/basicnet/). BASIC contains current and historical registration information as well as disciplinary actions taken by NFA, the Commodity Futures Trading Commission and all of the U.S. futures exchanges.
The new 24-page brochure complements NFA's existing family of publications designed to educate investors about the U.S. futures markets. Other NFA brochures include Understanding Opportunities and Risks in Futures Trading, Glossary of Futures Terms and Buying Options on Futures Contracts: A Guide to Uses and Risks [hyperlink updated October 8, 2021].
Individuals can download the brochure, as well as NFA's Forex Investor Alert [[hyperlink updated October 8, 2021], from NFA's Web site (www.nfa.futures.org). Copies of the brochure are also available free of charge by calling NFA's Information Center at 800-621-3570.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.