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Virtually every firm or individual who conducts futures or options on futures business with the public must be registered with the CFTC and a Member of the NFA. NFA Membership categories include futures commission merchants (FCMs), commodity trading advisors (CTAs), commodity pool operators (CPO) and introducing brokers (IBs). There are approximately 4,200 NFA Member firms and about 55,000 NFA Associate Members, individuals associated with NFA Member firms.
