Recent announcements that the US unemployment rate has increased to 9.2% and that the nation added the fewest number of jobs in the past nine months has caused stock prices to fall dramatically and has further eroded hopes for imminent economic recovery. For many unemployed and underemployed Americans, Forex trading has become a way to earn money when other means are unavailable. But this week’s enforcement of the Frank-Dodd Wall Street Reform and Consumer Protection Act is poised to change that.

Starting on July 15th, all Forex brokers that are not regulated by the CFTC will permanently close their doors to US Forex traders. A handful of brokers have already begun turning away US traders, and all others will be required to do so in the coming days. If you’re an American Forex trader, now is the time to withdraw your funds and to find a new broker that is NFA regulated. If you’re a trader based outside of the US, consider that an influx of requests and account closures may impede the responsiveness of your own broker in the coming days.

• Nonfarm Payroll Report Shows Negative Employment Trend in June


• Big Changes Ahead for US Forex Traders


• AUD/JPY at New Resistance

Here are some notable brokers that we tested recently:

FXCC (short for FX Central Clearing Ltd.) is a relatively new Forex broker that directly addresses some of the gaps in the global currency trading market. By offering a choice of two highly respected trading platforms, service in 9 languages and trading conditions to rival some of the top ECN Forex brokers, FXCC is proving that what they lack in years of operation they make up for in trading conditions. If you’re looking for an STP broker that allows scalping and hedging and has spreads in fractional pips, read this FXCC review to determine if this is the right broker for you.

Read Full FX Central Clearing (FXCC) Review

HotForex (licensed under the name HF Markets Ltd.) is an ECN Forex broker that offers competitive trading conditions and a wider range of currency pairs than most other ECN brokers offer. Although it offers the standard MetaTrader4 platform, few other aspects of this brokerage are standard, including its wide range of major and exotic currency pairs and a website available in 10 somewhat uncommon languages. Read our comprehensive HotForex review to see if HotForex is hot…or not.

Read Full Hot Forex Review

If you have any questions or comments on any of the above Forex items or if you would like to suggest topics for future investing articles, please contact us.

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* Neither DailyForex nor the author is responsible for the outcomes resulting from trades that are based upon these signals. We are providing these signals as a guideline for interested traders, not as a commitment to profitable trading. Online Forex trading involves high risk and is not suitable for all investors. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk. By using the DailyForex website, you agree not to hold DailyForex, or any of its affiliates, liable for decisions that are based on information contained anywhere in this site.