DislikedJimbil- please list all the forex brokers who offer protection of funds.Ignored
The US seems a bit more of a free for all. But essentially you want to make sure they keep clients fund in "segregated" bank accounts, so if they go belly up - like refco did, the client does not lose everything.
Oandas lack of transparency extends to not revealing how well the company is doing - by not revealing annual P/L fugures. But even if they did - this info is pretty meaningless - just look at refco, lehman brothers, enron etc. As a company can seem healthy right up to the day these fraudsters announce its collapse.