How much are NFA's Annual Dues?

Firms applying as NFA Members are required to pay initial dues and Approved Member firms are required to pay annual membership dues as part of a firm's annual filings and are subject to a late payment charge of $25.00 per month if paid after the date that they are payable. Dues should be paid in only one category-the category to which the highest dues apply. For example, an NFA Member that is an FCM and also a CTA and has an exchange as its Designated Self-Regulatory Organization would pay dues of $ 1,500.00 (the FCM category is the higher dues-paying category). Listed below is NFA Membership Initial and Annual Dues Schedule: 

Initial Membership Dues:

Swap Dealer - Tier 1**	$1,000,000
Swap Dealer - Tier 2**	$250,000
Swap Dealer - Affiliate of Tier 1 or Tier 2 Swap Dealer**	$150,000
Major Swap Participant**	$250,000
Major Swap Participant - Affiliate of a Major Swap Participant**	$150,000
Futures Commission Merchant - Exchange is Designated Self-Regulatory Organization	$1,500
Futures Commission Merchant - NFA is Designated Self-Regulatory Organization	$5,625
FCM Forex Dealer Member - Exchange is Designated Self-Regulatory Organization that has agreed to examine the Forex Dealer Member's forex activities	$25,000
FCM Forex Dealer Member - NFA is Designated Self-Regulatory Organization	$125,000
Retail Foreign Exchange Dealer	$125,000
Introducing Broker	$750
Introducing Broker Forex Firm	$2,500
Commodity Pool Operator	$750
Commodity Pool Operator Forex Firm	$2,500
Commodity Trading Advisor	$750
Commodity Trading Advisor Forex Firm	$2,500

**Dues will be invoiced and payable quarterly.

Annual Membership Dues:***

Swap Dealer - Tier 1****	$1,000,000
Swap Dealer - Tier 2****	$250,000
Swap Dealer - Affiliate of Tier 1 or Tier 2 Swap Dealer****	$150,000
Major Swap Participant****	$250,000
Major Swap Participant - Affiliate of a Major Swap Participant****	$150,000
Futures Commission Merchant - Exchange is Designated Self-Regulatory Organization	$1,500
Futures Commission Merchant - NFA is Designated Self-Regulatory Organization	$5,625
FCM Forex Dealer Member - Exchange is Designated Self-Regulatory Organization that has agreed to examine the Forex Dealer Member's forex activities	$25,000
FCM Forex Dealer Member - NFA is Designated Self-Regulatory Organization with annual forex revenue of:****
$5 million or less more than $5 million but not more than $10 million more than $10 million but not more than $25 million more than $25 million but not more than $50 million more than $50 million	$125,000 $250,000 $500,000 $750,000 $1,000,000
Retail Foreign Exchange Dealer with annual forex revenue of:****
$5 million or less more than $5 million but not more than $10 million more than $10 million but not more than $25 million more than $25 million but not more than $50 million more than $50 million	$125,000 $250,000 $500,000 $750,000 $1,000,000
Introducing Broker	$750
Introducing Broker Forex Firm	$2,500
Commodity Pool Operator	$750
Commodity Pool Operator Forex Firm	$2,500
Commodity Trading Advisor	$750
Commodity Trading Advisor Forex Firm	$2,500

***Members paying dues after the date they are payable shall be subject to a late payment charge of $25 per month.

****Dues will be invoiced and payable quarterly.