CFTC FX trading regulations still confuse retail FX market

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NEW YORK -- Some US FX trading services are still unclear about how to become legitimate FX trading entities, four months after the Commodity Futures Trading Commission brought retail FX trading within its jurisdiction.

The regulations, passed in December 2000, are aimed at protecting retail FX customers -- a growing market in FX -- from fraudulent trading companies. But services which offer FX trading to mid-sized corporates and institutions have also been hit, because the regulations preve