NFA (National Futures Association)

NFA - The US self-regulatory organization (SRO) for futures and retail forex dealers. All US forex dealers must register with the NFA and follow its rules. NFA oversees compliance (audits, exams) and enforces rules like segregating client funds (Rule 2-9), maintaining minimum capital (Rule 4-7), providing risk disclosures, and implementing written supervisory procedures. The NFA’s role is to protect US traders and ensure member firms trade fairly.