All individuals who solicit retail off-exchange forex business or who supervise that activity must take and pass two exams. One is the National Commodity Futures Examination (Series 3) and the other is the Retail Off-Exchange Forex Examination (Series 34), a new exam focusing exclusively on forex-related questions. Individuals who were registered as APs, sole proprietors or floor brokers (FBs ... The Series 34 exam, also known as “Retail Off-Exchange Forex Examination”, requires that you pass the Series 3 prior to testing. The 34 also requires a score of 70% or higher to pass and covers many areas including regulations, calculations, risks, and market knowledge. There are many online sources for study material for these exams, and trust me, regardless of how good of a trader you ... Series 34: The Series 34 is an exam and license required for individuals seeking to engage in off-exchange forex transactions with retail customers. It is part of the registration and ... Series 34: Retail Off-exchange Forex Examination. $85* 40 True/False and Multiple Choice. Retail Off-Exchange Forex. 1 Hour *Effective January 1, 2018. ** Candidates will also receive (5) additional experimental questions that DO NOT count toward their grades. Taking the Exams + Please plan to arrive 30 minutes before your scheduled appointment to allow time for check-in procedures. You may be ... It can rob you off the bargaining position. At the same time in an effort to give a competitive quote it could even force you to at times compromise on your margins as well. 2. Need to Get License & Pay Fees. The money exchange business needs a series of licenses and regulations. Normally these norms vary from state to state. Not having the ... On August 30, the Commodity Futures Trading Commission (CFTC) announced the issuance of its long-anticipated final rules for off-exchange foreign currency transactions (forex) with retail customers. The rules implement the CFTC Reauthorization Act of 2008 (the CRA), which for the first time gave the CFTC complete rulemaking authority over forex transactions between certain counterparties and ... The Series 34 exam—the Retail Off-Exchange Forex Examination—is a National Futures Association (NFA) exam administered by FINRA. The exam consists of 40 scored questions. Candidates have one hour to complete the exam. The passing score is 70%. For additional information about this exam, including the content outline, please visit the National Futures Association Proficiency Exam page. Passing the Series 34 Retail Off-Exchange Forex exam is nowhere near as difficult as obtaining any one of the three aforementioned designations or completing a Ph.D. Retail Foreign Exchange Dealer (RFED) A retail foreign exchange dealer (RFED) is an organization that acts, or offers to act, as a counterparty to an off-exchange non-U.S. currency transaction with a person who is not an eligible contract participant and the transaction is either: Also, all individuals who solicit retail off-exchange forex business or who supervise that activity must take and pass two exams: the National Commodity Futures Examination (Series 3) and the Retail Off-Exchange Forex Examination (Series 34).
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