While many off-exchange currency brokerages have been shut down for various  violations, including misrepresentation and the failure to execute trades, these brokerages are generally unregulated because they fall within a grey zone of the law.

Is this investing, gambling or a fraud? You be the judge.

The source for the foregoing article was an excellent news article written by by Mark Gimein of the  Standard . Please read the Standard article for more details and a good explanation of how this type of trading works.