Commodity Trading Advisor (CTA) Registration Services
To become a CTA:
The priority is to pass the Series 3 exam. Second, join the National Futures Association (“NFA”) as a CTA. Third, in coordination with joining the NFA, submit your Disclosure Document to the NFA/CFTC for registration. As an aside, you can study for the Series 3 exam, if time is of the e essence, while your application forms are being create and processed. Finally, your registration isn’t complete, and you shouldn’t solicit, until you finish all steps.
Refer to our Resources page for helpful links.
Series 3 National Commodity Futures Exam
In order to register with the National Futures Association you need to pass the Series 3 National Commodity Futures Exam. Along with other paperwork, you can then register as an Associated Person (AP), Commodity Trading Adviser (CTA), Commodity Pool Operator (CPO), or Introducing Broker (I/B). The test is 2.5 hours long with 120 questions. If English is not your first language you may request extra time to complete the test. The study outline for the test shows 8 areas of study. The test is divided into two categories, however, for grading, Rules and Market Knowledge. A 70% on both parts, at one sitting, is required to pass.
You have two years from the date you pass the exam to complete your registration, otherwise you have to sit for the test again.
You do not need a sponsor in order to sit for the Series 3 exam.
You can take the Series 3 exam Monday - Friday (Saturdays at some locations) at Prometric Testing centers across the U.S. and many overseas locations.