What is an FCM?
A Futures Commission Merchant (FCM) is a firm that takes customer orders to buy or sell futures and options, holds the related funds, and works with exchanges to process and settle those trades.
FCMs maintain customer accounts, send out statements, and make sure funds are properly managed. Most FCMs work with Introducing Brokers, who communicate directly with customers on their behalf.
Every individual futures broker, Introducing Broker firm, and Futures Commission Merchant (clearing firm) must be a member of the National Futures Association (NFA).
This makes it easy to confirm with the NFA whether a person or firm is properly registered, has an active status, and is allowed to do business with the public.
Our clearing firms are registered with the Commodity Futures Trading Commission (CFTC) and are NFA members as Futures Commission Merchants (FCMs).
You can check on a firm's NFA status via this link:
https://www.nfa.futures.org/basicnet/