Forex Capital Markets registers with CFTC


NEW YORK -- Forex Capital Markets (FXCM) has registered with the Commodity Futures Trading Commission as a futures commission merchant (FCM), the firm announced in June.

The move entitles FXCM to trade FX with clients in the US worth less than $10 million in assets, in compliance with regulations from the CFTC that became law in December 2000.

The regulations were aimed at reducing FX trading fraud in the retail market (FX Week, March 12), and are likely to put many FX trading firms out of b