Forex story: Only the strong survive

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Description: In the old days, say 10-15 years ago, the foreign exchange market was the playground of big banks and multinational corporations. Soon the curtain cracked; firms were consolidating smaller orders to play in the trillion dollar market. And then, with the growth of electronic trading, the curtain opened wide. Foreign exchange no longer was some dark place where small traders feared to tread, in fact, a new "industry" was born to service their demand. But the growth of the retail forex sector has attracted its share of sleazy profiteers that the US regulators want to stop. In an effort to expel these, the National Futures Association and Commodity Futures Trading Commission (CFTC) have implemented tough new capitalization requirements for online forex dealers in the wake of the CFTC's May reauthorization, an act that returned to the CFTC the authority that came into question after a 2004 court decision that placed retail forex brokers largely outside the CFTC's regulatory net.
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