How to Become a Futures Broker
Futures brokers assist clients in buying and selling futures contracts. Futures brokers are very similar to stock brokers, except that they cover a different financial market. If you want to become a futures broker, you should have good people skills, good sales skills and a solid knowledge of the futures markets.
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Instructions
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Pass the Series 3 exam. The Series 3 is also known as the National Commodity Futures Exam. Passing the Series 3 qualifies an individual to sell futures contracts and is essentially the futures equivalent of the series 7 exam for stockbrokers.
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Register with the National Futures Association. The National Futures Association (NFA) is the regulatory organization governing the futures industry. The NFA registers individuals under several designations and anyone wishing to become a futures broker should register under the 'Associated Person' (AP) designation. To complete the application process, submit a completed Form 8-R, a fingerprint card and an application fee.
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Get a job with a futures brokerage. Look for job openings just as you would for any industry. Some good places to find information on futures brokerages and possible job openings include financial websites, magazines and newspapers that cover the futures markets. Note that some brokerages offer to hire qualified individuals and then sponsor them for NFA registration and Series 3 testing. Even so, you may wish to complete the testing and registration prior to applying for a position at a brokerage in order to strengthen your resume.
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