5) What is a Disclosure Document?

A Disclosure Document is required by the NFA and CFTC for specific types of CTAs. The document describes the CTA’s trading program, risks, fees, past performance, manager profiles, rules, and other relevant details. CTAs are required to update their Disclosure Documents at a minimum of every twelve months. Updates may be more frequent if significant changes are made to their trading programs. Each CTA Disclosure Document is different and should be read before investing. Certain types of CTAs are exempt from the requirement of producing a formal Disclosure Document. Exemptions are usually based on the type of investor the CTA intends as his clientele.


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Past performance is not necessarily indicative of future results. Trading commodity futures, options, and foreign exchange ("forex") involves substantial risk of loss and is not suitable for all investors. In no way is the advisor of the month a direct recommendation of aiSource or any of its affiliates. Please carefully review the disclosure documents and any other promotional material prior to investing with any program. Managed accounts and/or managed futures are very risky and may not be suitable for all investors. Please consult with a Managed Futures specialists prior to investing.