Interest points all along...
So now it's July 7. What's the verdict? According to Justin from EFX, NFA should have voted last week.
The numbers seldom speak the harsh reality behind it. IMO, FXCM and GFT are just too big to respond to support tickets under 48 hours. FXCM platform even with the new look doesn't offer advance features such as charting with custom indicators, backtester, and built-in scripting for automation like those of MetaTrader. I would still have to say that you should try the demos of various brokers to judge which one should deserve your deposit.
NFA is merely a regulator. Will it be justified to seize all the capital when a financial firm cannot comply with it? I don't think so (correct me i'm wrong). Even if it can dissolve a firm, it's going to allow traders to get their own funds. The maximum punishment NFA can give to a firm that has committed any fraud is to simply take back the "Registered with NFA #123", and then off the traders go trading with their unregulated brokers. But there's more to it. NFA is not alone. Some brokers may simply go offshore and register with foreign regulators.
