The difference? Forex in Russian and U.S

The fact that in Russia there are Forex, known to many. What exactly is he like, he knows far fewer people. In fact, on what terms and at the cost of any risk to Forex, you can join, as a Russian, almost no one knows ... The fact that in Russia there are Forex, known to many. What exactly is he like, he knows far fewer people. In fact, on what terms and at the cost of any risk to Forex, you can join, as a Russian, knows almost no one, according to reporters D `. Probably, even among financial officials and economic deputies have this intimate knowledge of a few. However, this market is growing in our country, and the number of participants - people who play it - although still less than those that prefer the stock market, but is comparable in its order. Only now, by the way, no one you just will not say how many of those brave comrades in Russia and how much money there spinning. It is said that about 50 thousand people, maybe 75,000, maybe the whole hundred. This is not say no to the FFMS nor the Central Bank nor the brokers themselves - nowhere at all! In general, the Forex has no problems, but not because they do not exist in reality, but because of the market from a legislative perspective, no one in Russia, so there are no statistics, there are no guarantees other than goodwill of the participants themselves. In this case there is nothing stopping these tens of thousands of people in this market to play - this despite the fact that the economic risks they are among the highest. Nothing prevents a broker to take the very real money from customers accounts. Almost nothing - except for the same good will - not prevent them from potentially manipulate quotes or even disappear with client money. Nothing prevents thrive in this market and the manager, promising a guaranteed rate of return - a thing almost not imaginable in our stock market. Almost no one confuses that your professional mediator will legally be in the area of ​​offshore regulation, or, for example, that all the contentious issues customers have to settle no closer than the London Court of Arbitration. But as the guarantees of safety of customer deposits from fraudulent attacks will be the license of the Federal Agency for Physical Culture, Sport and Tourism on - attention! - The organization and content of the betting and gambling establishments. In general, the Russian market access to the Forex reigns almost complete freedom. One often hears the objection that the West purely forex firm is not subject to direct government regulation. They say the market is a special, free in its essence, over the counter. Trade on it is done by telephone and the Internet. Each company-dealer, in fact, itself a market for their clients. In general, the actual buying and selling exchange does not occur, and therefore to regulate something almost nothing. The game is such recklessly and economic, not for outsiders, and for intellectuals. Such cunning liberals. Foreign exchange market itself globally regulated, indeed, can not be. But here is the relationship with the client to broker a decent country - very even. Financial transactions from gambling are separated clearly. And the effort is collaborative - and the state, and by the professional community. We also have complete freedom and are not satisfied with the professional workers, old-timers of this market. Mediators - the favorites here fear most - they cut down the money and leave, but the problem with the business and reputation will be at all. The story, incidentally, confirms that the long duration of the intermediary (broker whether, if the manager) on the market does not guarantee anything. Examples of this - the mass, and loud in its resonance, and just straight from the tin. Fraud in Forex in Russian In August, with several tens or hundreds of millions of dollars (nobody knows) vanished super-trader Alexey Kalinichenko, who worked in the market as a manager and was very well known for several years. A star was being interviewed, since 2005, he even had his own office - UTG. In 2003, a solution with their client's money "Forex Club of St. Petersburg", freely and illegally availing itself of the biggest brand of the Russian forex broker - Forex Club. She worked as a company in the market since 1998. In 2002, ceased operations on Swiss Sovereign Group, since 1996, and only with major clients - from 200 thousand dollars. In Switzerland, the company has been accused of money laundering and operating without a license. Who really there was founded, It is not known, but the main clients of the company were from Russia. In 2001, with 400 thousand dollars has evaporated DC "Capital". This is the last, as they say. So do something with this market in Russia still needed. While active advertising and offshore betting offices has attracted a considerable part of the economically active population. Mmm do you remember? FOREX regulatory experience in the U.S. Each individual or firm rendering services to clients trading on Forex and Futures in the United States must be registered with the State Commission on Commodity Futures Trading (CFTC) and a member of a non-profit self-regulating National Futures Association (NFA). NFA began operations in 1982. The Association monitors the performance of its members, federal laws and regulations established by the CFTC and the most NFA. NFA uses a thorough and rigorous inspection procedures, has the authority to deny, deprive, limit or suspend the membership status of any firm or individual. Association adopted a set of strict rules relating to advertising, disclosure risk, fees, required minimum capital test of professional knowledge, etc. Disciplinary actions range in severity from "warning letter" to the formal proceedings. In the latter case, the offender may be fined up to 250 thousand dollars for each violation. NFA is also working with CFTC, FBI and other law enforcement agencies in prosecutions. In 1993, the NFA has adopted a regulation on "advertising and marketing" in order to minimize the likelihood of fraudulent and manipulative practices offer brokerage services. The new procedures require the recording of telephone conversations on tape, and storage of these records, as well as the maintenance of the increased minimum capital and delivery of all promotional material with NFA for approval. Implementation of this rule significantly reduced the number of "problem companies" and "broker fraud" in the industry. C 1998 system running BASIC, accessible via the Internet, which contains information on all members of the CFTC. The Association also published a free and provides a number of educational pamphlets informing investors about the principles of forex and futures markets, the risks and opportunities. NFA arbitration program has become the main arena for the resolution of disputes between traders, investors and brokers. In 2001, the NFA is the first in the financial industry regulatory organization, which began receiving arbitration applications over the Internet. Having the opportunity for any trader to use the services of the arbitral tribunal NFA radically changed the quality of broker services, lessening the threat of illegal activities and was one of the main factors of a civilized market of Forex and futures around the world