Before making a transaction in the futures or options on futures markets, you must open an account through a licensed Series 3 commodity brokerage representative. Often you'll be able to find a good futures broker through the reference of a friend or co-worker currently trading the futures markets, or a broker might call you directly and introduce him or herself. But, if you don't have someone who can help, there are several sources available, including CME® Find A Broker. There are several types of brokerage firms from which you can choose:

Full Service Brokerage: If you're following several markets, you may want the experience and assistance of a full service brokerage firm. Your trading strategies will be a joint effort between you and your broker. If you're new to futures trading, you might feel more comfortable with the extra attention that a full service brokerage extends. A full service firm offers you advice on investments currently in the news, provides you with data so that you'll be knowledgeable in several areas, and contacts you regularly with trading advice, etc. Transaction fees are generally higher because of the additional services they provide.

Discount Brokerage:  A discount brokerage firm allows you to make all the decisions about how to trade your account. You only need to call, place an order and the firm will execute it. You will also, in many cases, conduct your own research on products. Support is limited, but if you don't need the extra attention and are confident in your trading abilities, this is the most economical way to trade.

Introducing Broker (IB):  An IB is a full service brokerage firm, usually specializing in futures trading, which executes buy and sell orders on the commodity exchanges through a well-known, established firm. The established firm is a clearing member of the exchanges. The IB may not have an easily recognizable name, but can provide the same attention to your account as a full service firm. IBs are often found in smaller cities and can serve your needs as thoroughly as a well-known full service brokerage in a larger city.