Trading your own futures account means you will be making all of your trading decisions and be responsible for assuring that adequate funds are on deposit with the brokerage firm for margin purposes.
All brokerage firms conducting futures business with the public must be registered with the Commodity Futures Trading Commission (CFTC) as Futures Commission Merchants (FCMs) or Introducing Brokers (IBs) and be Members of NFA.
You should always conduct a background check on the firm using NFA's Background Affiliation Status Information Center (BASIC). If you cannot find the firm in BASIC or have additional questions about the firm's registration status, call NFA's Information Center at 800-621-3570.
Whether you open an account through an FCM or an IB, your funds will be held with the FCM. FCMs are required to maintain the funds and property of their customers in segregated accounts, separate from the firm's own money, if used for trading futures or options on futures on an exchange.
You can check the registration status and disciplinary history of any futures firm or individual.
You can file a complaint online. Be sure to include as much information as you can.
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