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What is NFA membership in the US?

The National Futures Association (NFA) is a self-regulatory organization overseeing futures and forex brokers in the United States. All US forex brokers must be NFA members and also register with the Commodity Futures Trading Commission (CFTC). NFA rules include strict capital requirements, 1:50 leverage limits on major pairs, and mandatory segregation of client funds. The NFA also provides a searchable BASIC database where traders can verify registration and check disciplinary history. While US trading conditions are restrictive, NFA brokers are among the safest worldwide, offering strong investor protection and enforcement against misconduct.