All US brokers require a one million dollars by 31st july?

I understand that cftc regulations now require 1 million in net capital by the 31st of july for all brokers estabilished in the US.I believe this has been done to stamp out rouge brokers in the market place.Most will have to merge with other firms or go out of business.Has anyone else hear of this news?I have provide a link so u can check out your broker's net capital position http://www.cftc.gov/files/tm/fcm/tmfcmdata0604.pdf

This seems to be the best thing ive heard all year Thanks!!

I agree - about time on this one.

I think it should be higher however, around $5m

Hope this will shake off some shady brokers.

And the CME FX marketplace will get rid of the rest.


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This is great news, however who would ever want to go with a small broker ???
Before choosing your broker whouldn't you want to go to www.cftc.gov ???
Check out their monthly statements & determine their asset size...
I guess this is great for those who do not do a simple research.
If you're lazy on research then later it'll bite you in the ass.
However, any step to eliminate fraud is a blessing...

p.s. I monitor my brokers' balances every month...

Good move to consistantly monitor your broker's balance but just make sure its well over 1 million or asta la vista johnny cash!Thats why I posted this concern.

Thanks for advise but I would never go with a broker that small to begin with.

Good move, but hopelessly inadequate, I would have thought, to weed out dodgy brokers.

If u check the net capital standing of all retail brokers, Oanda is top with over 20 millions.

Of all the ECN, interactive broker is the best with over 200 millions of net capital.

Yes, IB really does take the lead. But keep in mind thay they trade everything under the sun. Not just spot fx like most of the brokers.

As I see it MAN Financial leads the way with over 500mil. Thay also trade anything under the sun but do offer retail forex accounts.