Regarding trademarks- legally registering a trademark isn’t always necessary for a word that’s a title or name of something that’s globally recognized, to be protected. A car is a car. A swing is a swing. You simply cannot label it a rocking chair because it has similar movement. It’s just not done. A scooter isn’t called a bike.
Foreign Exchange (FOREX) means transactions traded on the exchange market. Therefore-cannot also mean transactions made on a simulated trading gaming platform.
The NFA is being targeted because they are the ones regulating the industry. They are responsible for protecting people from being taken advantage of. They know the obvious confusion the dual use of the term is causing. Not doing something about it, worse yet- further integrating the word is what makes them liable. If they were really trying to protect the customers-while still using the word FOREX- they would have all advertising contain a disclaimer-informing customers of the change of meaning.
The possibility of customer confusion about what product or service they are signing up for isn’t even mentioned on the NFA site. Seems like an important topic to skip completely.
I have a suggestion. Forex Army: Lets find out how many people understand what FOREX Trading is. I used the term Market to follow NFA’s labeling.
Please run the following multiple choice poll on your home page. Its as unbiased as I could think of. Either they know the answer or they don’t.
The FOREX Market is:
A. Foreign Exchange Transactions
B. Off-Exchange Transactions
The Retail Market is for:
A. Small investors to trade on Off-Exchange on simulated Trading Platforms.
B. Small investors to trade on the Foreign Exchange using Trading Platforms
Assets required to trade on the Foreign Exchange?
A. 125 thousand
B. 500 thousand
C. 1 million
D. 10 million
If I’m wrong- I’ll walk away. Staff members cannot answer poll. Dare to find out the truth. I think for a poll’s results to be considered a valid representation, it has to be answered by 2,000 people.