Membership Dues

NFA is completely self-financed with funds from membership dues and fees, and from assessments paid by Members and users of the derivatives market. The underlying philosophy for NFA's funding is that each of NFA's regulatory programs must pay its direct costs of regulation, a pro rata share of NFA's overhead expenses and pro rata contributions to NFA's reserves. NFA's Board of Directors reviews and approves its budget annually.

NFA Members are required to pay dues as outlined below.

Initial NFA Membership Dues

Swap Dealer - Tier 1 (Dues invoiced and payable quarterly)

$1,000,000

Swap Dealer - Tier 2 (Dues invoiced and payable quarterly)

$250,000

Swap Dealer - Affiliate of Tier 1 or Tier 2 Swap Dealer   (Dues invoiced and payable quarterly)

$150,000

Major Swap Participant (Dues invoiced and payable quarterly)

$150,000

Major Swap Participant - Affiliate of a Major Swap Participant (Dues invoiced and payable quarterly)

$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

Annual NFA Membership Dues

Swap Dealer - Tier 1 (Dues invoiced and payable quarterly)

$1,000,000

Swap Dealer - Tier 2 (Dues invoiced and payable quarterly)

$250,000

Swap Dealer - Affiliate of Tier 1 or Tier 2 Swap Dealer   (Dues invoiced and payable quarterly)

$150,000

Major Swap Participant (Dues invoiced and payable quarterly)

$150,000

Major Swap Participant - Affiliate of a Major Swap Participant (Dues invoiced and payable quarterly)

$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 gross annual 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

(Dues invoiced and payable quarterly)

$125,000
$250,000
$500,000
$750,000
$1,000,000


Retail Foreign Exchange Dealer with gross annual 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

(Dues invoiced and payable quarterly)

$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

 

Late Payment Charges

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

Available Payment Options

To assist Members and registrants with paying invoices (CFTC registration fees, NFA dues and assessments, etc.) and depositing funds into the firm's prepaid account, NFA has three different payment options:

  • Online Payment: This option is currently only available to U.S. firms and foreign firms using banks in the U.S. To remit funds electronically, security managers should Login to ORS and click "Make a Payment" under the Accounting section of the NFA Dashboard.
  • Wire Transfer: To direct your bank to wire funds to NFA, please call Mitch Kozlowski at 312-781-1384.
    • Instruct your bank to include the firm's name and NFA ID number as part of the wire transfer detail.
    • If payment is for NFA assessment fees, please fax a copy of the monthly Assessment Fee Summary Report to Mitch Kozlowski at 312-781-1467. NFA cannot apply payment until this report is received.
    • If payment is not assessment related, please provide the NFA invoice number as part of the wire detail.
    • Please be aware that banks may charge service fees in addition to the wire amount.
    • The cut-off times for processing received funds are:

Wires Received (U.S. Bank Business Days)*

Processed

By 1:30 p.m. CT

Same Business Day

After 1:30 p.m. CT

Next Business Day

*U.S. Bank Business Days exclude federal holidays and weekends.

  • Check: Please make check payable to National Futures Association and send to:

National Futures Association
Box 98383 Chicago, IL
60693-0001

Note: Only checks should be mailed to NFA's P.O. Box address. Mail all other documents/correspondence, including fingerprint cards, to:

National Futures Association
300 South Riverside Plaza
Suite 1800
Chicago, IL 60606