Guess how much NFA regulation costs

$25 000 000 minimum

Plus the need for more employees

amazlingly high. Its ridicoulous.

How did you come up with this?

source: boston tech

NO LOLOLOL

thats how much you need IN CAPITAL to become a broker from scratch. you dont need to pay them 25 mil. if you already understood that, then great. they must have upped the ante because it was 20 mil not too long ago. remember, it's all about eliminating all but the top players.

The NFA is like the Brady Campaign. They don't know shit, nor do they care know anything about what they are trying to do, just a bunch of lazy bums who can't get a real job.

You can be NFA regulated, cost $25,000,000
You can be FINRA regulated, cost about $300,000
You can be Off-Shore regulated, starting from $5,000

Do I have to be NFA regulated?

Nobody can forbid you from exchanging your Euros in your pocket for the US Dollars in my pocket, right? This is why Forex is an Over the Counter market. Therefore the only reason to be registered is if you want to. Remember that NFA members have to pay a lot of fees to the NFA and have so many constraints that you will have to dedicate 2-3 employees just to work with the NFA. All of this means that your customers will have to pay for all of this and your will have to offer higher prices.

buddy, thats not the cost of being regulated. that is how much money you need to have in the bank in order to become a broker. if you just want to trade by yourself, you dont need to be regulated. if you want to trade for other people in the US, you need to get your series 3 and 34 and become a CTA. you will have to pay for the tests and a few membership fees, but it isn't that expensive. if you're interested in becoming a broker, then yes you will need that 25 mil, but you arent paying it to the NFA. you keep it in your account. they just want to make sure you have enought capital sitting in the bank to cover everyone's trades and withdrawals.

makes sense.. why they saying 'costs'??

you said that was boston technologies that told you that right? it's because they want you to sign up through them, not the NFA. they are going to make it sound as scary as possible so that you want to choose the unscary BT way. it's how all those companies work. if the NFA actually charged 25 million just to register, there would be no brokers or traders in the US.

kk thanks for clearing that up...do u know the actual rough cost for regulation?

it depends what you are registering to be. are you trying to be a broker, tradign other people's money, or trading your own money? the broker will need the 25 mil in capital, plus it will be a couple thousand for registration fees. if you are managing other people's money, you will probly spend 50 - 100 bucks for the study materials. the test itself is like 125 to 150 bucks. it was around 100 when i took it. registration fee is 200 dollars, with an 80 associated person fee if you are working for a company. so in total, 350 - 450 dollars depending on who you are working for. if you are just trading by yourself, there is no need to register at all.

I see thanks.. and the recurring fees for brokers to the NFA?

Sim,

If you're starting a thread about NFA fees, why not visit their site? Googling "NFA" brings you straight to their homepage. Another couple clicks gets you here:

I did google it but rather the phrase 'NFA annual/quarterly costs' or something along those lines...wasn't very yielding

http://www.nfa.futures.org/

Then click on "Register" and you'll find the requirements and fees etc.