Another note about the series 3 and CTA regiion. There are legitimate offshore hedge funds and associations which will not work with enrolled traders. There are many US institutions which need traders to be enrolled. So it is all about who a trader thinks his financing sources will be. In general, I recommend traders not to jump into regiion now unless a FCM or association which makes up a portion of his business requires it. It is really quite simple to get regsitered; therefore a trader is able to do it. Between researching for the series 3, registering with the NFA online, drang the disclosure files, etc., the procedure may take from two to four months.