During today’s global banking crisis, more and more day traders are worried about the safety of their funds if their forex broker goes under.

In the United States, the NFA (National Futures Association) does not protect against insolvency of forex brokers. Nevertheless, I believe that FX (foreign exchange) remains one of the best asset classes for active traders.

That’s one of the main reasons why many traders and investors are switching brokers. Different jurisdictions offer access to brokers and banks that offer account protection in Forex. Some of these firms offer the MT4 (MetaTrader) platform, which has become sort of a standard in the retail forex trading arena despite some critics. The execution quality many of these trading firms are providing has also improved – and many claim there’s no intervention from a human dealing desk.

So the next time someone recommends for you to open an account with a brokerage firm just because of NFA membership, think again. You need to do your homework and find out just how “safe” your trading or investing account with each brokerage firm is.

Our day trading blog just went through its 2-year anniversary! Wow; time flies! It was actually on November 3rd, 2008 that the blog section of Day Trading Tutor turned two (see “News” section on navigation menu).

For two years, we’ve embarked on a wild journey through the forex day trading market. In that time, we’ve learned the hard way about all the games many FX brokerage firms play, the advantages and shortcomings of the technology behind the scene, and how a historical credit crisis impacts every global market in existence. We’ve also met an endless number of day traders and money managers in the process.

I almost forgot that the Day Trading Tutor website also underwent a major revamp in the middle of it all (read Day Trading Tutor gets a New Look) – and we launched a series of live forex webinars to help day traders become more successful (after years of requests from our visitors).

Happy Anniversary Day Trading Blog!