Broker Proficiency Training

The National Futures Association (NFA) and Financial Industry Regulatory Authority (FINRA), in conjunction with the Institute for Financial Markets (IFM) have developed a free, on-line broker proficiency training course for security futures.

Completing this training program satisfies the NFA/FINRA requirement for registered securities and futures professionals to offer security futures to their customers.

There are five modules in the on-line course:

  1. Stocks and Stock Options
  2. Futures Contracts
  3. Security Futures Products
  4. Regulatory Requirements for Security Futures
  5. Supervision of the Sale and Offer of Security Futures

Registered professionals may not be required to complete all five modules.  For example, individuals already registered with the FINRA may not be required to complete module 1, Stocks and Stock Options. Please contact the NFA and/or FINRA for definitive information regarding the modules you are required to complete.

Professionals registered only with the NFA should access the training program through the NFA’s Web site (, and individuals registered only with FINRA or with dual-registration should access the program on FINRA’s Web site (

Once the training is completed, the individual can print off a certificate of completion that can be copied and given to the firm for its files.  In addition, the NFA and FINRA will electronically capture information about a registrant’s completion of the course.

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February 2016
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