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The Forex Trader's Bill of Rights

In an unregulated marketplace, change can come only from the inside out: from traders who put their assets at risk --- not from entrenched interests who purport to control how this business is done.

Understand your rights.   Then insist on them.

Exercising your rights as a trader will reduce your cost, eliminate much of the uncertainty and risk that need not be part of the process, and restore clarity and fairness to forex trading.

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Table of Contents

  1. Introduction

    Why the Bill of Rights is important

  1. Wagging the Dog

    The right to immediate, uncensored access to the marketplace

  2. What You See is Not What You Get

    The right to trade real spot

  3. A Little Knowledge is a Dangerous Thing

    The right to know

  4. Timing Your Trade, or Trading Your Time

    The right to trade whenever you want

  5. The Fallacy of Best Execution

    The right to equal treatment

  6. Don't Give In or Give Up

    The right to choose and manage risk

  7. Feeding Time at the Spread Trough

    The right to understand cost

  8. Learning by Burning

    The right to learn on your own, or through free exchange with other traders

  9. Getting Beyond Fairness to True Accountability

    The right to full disclosure

  10. An Appeal to Your Self-Interest

    The right to pay and receive interest

Call to action

  • Recognize that there is a difference between standard operating procedure and best execution.
  • Challenge your market maker: ask the questions that appear in the Bill of Rights.
  • If your market maker doesn't come up with satisfying answers, make your next trade with one who can.
The cost of change is low;
The cost of accepting business-as-usual is probably higher than you imagine.