Introducing Broker (IB) Registration

An introducing broker (IB) is an individual or organization that solicits or accepts orders to buy or sell futures contracts, forex, commodity options, or swaps but does not accept money or other assets from customers to support these orders.

Registration is required for an IB unless the individual or organization is:

  • Registered as and acting in the capacity of an AP;
  • Registered as an FCM;
  • Registered as a CPO and only operate pools;
  • Registered as a CTA and either solely manage accounts under powers of attorney or doesn't receive per-trade compensation; or
  • Is a non-U.S. resident or firm with only non-U.S. customers and the firm submits all trades for clearing to an FCM.

All registered IBs must be NFA Members.

Registration Requirements for IBs

To register as an IB and become an NFA Member:

Registration Requirements for Principals and Associated Persons (AP) of IBs

An IB is required to file the following for its principals and associated persons:

An application fee for principals and APs is not required if the individual is currently registered with the CFTC in any capacity or is listed as a principal of a current CFTC registrant. Only one application fee is required if the individual is filing an application as both an AP and principal. One principal must be an AP, forex AP or swap AP.

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View IB Member Requirements

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