Authorized Forex Dealer

Any financial institution that has received authorization from a relevant regulatory body to act as a dealer involved with the trading of foreign currencies is known as an Authorized Forex Dealer.

It's important for the trader to understand that dealer with an authorized forex dealer provides you with legal protection over the execution of your transactions.

In the United States, one regulatory body responsible for authorizing forex dealers is the National Futures Association (NFA). The NFA ensures that authorized forex dealers are subject to stringent screening upon registration and strong enforcement of regulations upon approval.