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Thread: New CFTC/NFA laws totally **** Zulu Affiliates too!

      
  1. #1
    Hindsight Hero! DickP's Avatar
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    Thumbs down New CFTC/NFA laws totally **** Zulu Affiliates too!

    Let me start off by saying this wasn't "ground breaking" funds I earned from Zulu (Zulu gets most of that commission off your trade), I'm talking pennies off each of my affiliates trades. That doesn't bother me that we make so little, Zulu makes so much, and we the middle men really have no say.

    On top of all of this I got an email from ZuluTrade today saying:

    Dear Affiliate,



    We are contacting you regarding the enforcement of the new NFA/CFTC regulations and would like to inform you that as of 18/10/2010, we will not be able to rebate you directly for any of your U.S. based clients.



    To be more specific, the enforcement of CFTC regulations and NFA Bylaw 1101 prohibits NFA/CFTC members (ZuluTrade) from transacting business with non-NFA members who are required to be registered with the CFTC. As a result, any rebates resulting from current U.S. clients will cease and those accounts will be removed from your “Referral Accounts” by 26/11/2010, unless you (Affiliate) provide proof of NFA/CFTC registration in order to retain those accounts and receive commission.



    For those able to provide NFA/CFTC verification, commissions will be permanently restored. All other rebates resulting from non-U.S. clients will continue to be paid in full as usual.



    In case you are not NFA/CFTC certified, you can choose to register under an NFA/CFTC certified Affiliate who will be eligible to receive payment resulting from U.S. clients’ trades, for a 5% compensation fee. In case you would like to do so, ZuluTrade can suggest an Affiliate who is NFA/CFTC registered.



    If you are NFA/CFTC certified please send as the corresponding documents. In any other case, please let us know whether you would like to register under an NFA/CFTC Affiliate, so that we can proceed with the necessary arrangements.



    We thank you for your understanding and cooperation.



    Best regards,
    Chris

    ___________________________
    Chris Mileos
    Affiliates Department
    ZULUTRADE INC.
    Email: [email protected]
    Visit Us: www.zulutrade.com

    I'm not registering my blog for $750 a year with the NFA, I'm sorry I guess I have to stop promoting ZuluTrade altogether.



    "I came to make pips and chew bubble gum...damn, I'm all out of gum..."
    -DickP, 2011

  2. #2
    Pips Are My Game
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    Default Re: New CFTC/NFA laws totally **** Zulu Affiliates too!

    In case you are not NFA/CFTC certified, you can choose to register under an NFA/CFTC certified Affiliate who will be eligible to receive payment resulting from U.S. clients’ trades, for a 5% compensation fee. In case you would like to do so, ZuluTrade can suggest an Affiliate who is NFA/CFTC registered
    I think they are giving you a solution here...why dont you contact them?

  3. #3
    My Pips Are Growing ironman's Avatar
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    Default Re: New CFTC/NFA laws totally **** Zulu Affiliates too!

    What this tells me is the NFA is the one making out like a bandit forcing thousands of websites to pay $1000's in dues every year. Extra millions being created by this Dodd-Frank bill for the government due to extra fees and crap. Sad day for Forex.

  4. #4
    Pips Are My Game Toscani's Avatar
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    Default Re: New CFTC/NFA laws totally **** Zulu Affiliates too!

    That is retarded hwo do blogs intend to stay alive? Zulu just lost out on like BILLIONS in revenue, no one will promote them now unless you are comatose and dont updated your web page and completely remove anything dealing with Zulu Trade, why promote them when they dont go to bat for you as americans, dodd frank or no dodd frank, zulu should be eating this one and they dont

  5. #5
    Administrator Mike's Avatar
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    Default Re: New CFTC/NFA laws totally **** Zulu Affiliates too!

    Quote Originally Posted by DickP View Post
    Let me start off by saying this wasn't "ground breaking" funds I earned from Zulu (Zulu gets most of that commission off your trade), I'm talking pennies off each of my affiliates trades. That doesn't bother me that we make so little, Zulu makes so much, and we the middle men really have no say.

    On top of all of this I got an email from ZuluTrade today saying:


    I'm not registering my blog for $750 a year with the NFA, I'm sorry I guess I have to stop promoting ZuluTrade altogether.
    Just for the record, the new law applies only to Zulu Affiliates and their US Based clients which is a fraction of the world's Forex trading population

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