The National Futures Association (NFA) is a self-regulatory organization in the United States that oversees and regulates the futures market, including forex trading. The NFA's mission is to protect investors, safeguard market integrity, and ensure transparency in the futures industry.

1. Registration: Forex brokers must be registered with the NFA as a Futures Commission Merchant (FCM), Introducing Broker (IB), Commodity Trading Advisor (CTA), or Commodity Pool Operator (CPO).
2. Capital Requirements: Forex brokers must meet minimum capital requirements set by the NFA. The minimum capital requirement for FCMs is $1,000,000, while the minimum capital requirement for IBs is $45,000.
3. Anti-Money Laundering (AML) Compliance: Forex brokers must have an AML program in place to prevent money laundering and terrorist financing. This includes customer identification procedures, transaction monitoring, and reporting suspicious activities to the Financial Crimes Enforcement Network (FinCEN).
4. Disclosure Requirements: Forex brokers must provide customers with detailed information about their services, fees, risks, and the markets they trade. This includes providing a disclosure document called the "Forex Disclosure Document" to all customers.
5. Segregation of Customer Funds: Forex brokers must keep customer funds in segregated accounts separate from their own funds. This ensures that customer funds are protected in the event of a broker's insolvency.
6. Reporting Requirements: Forex brokers must submit regular financial reports to the NFA and maintain accurate records of all transactions.
7. Ethics and Conduct: Forex brokers must adhere to high ethical and professional standards in their business practices. The NFA has strict rules against fraudulent activities, market manipulation, and other unethical behavior.