A futures contract is one covering the sale of physical commodities or financial instruments for future delivery on a commodity exchange. Depending on exactly what you intend to do for clients regarding the futures contract, you may be required to take one of a series of exams and complete one of a series of registrations with the Securities and Exchange Commission or other governing bodies.
There are strict rules in place regarding who may act as a commodities broker in order to protect the interests of customers and those trading on the market. The Securities and Exchange Commission (SEC) is the main governing body responsible for making and enforcing these rules and you may have to complete various requirements as set forth by the securities exchange commission.
As a general rule, if you intend to trade for a group of clients by combining or pooling those clients' funds, you may need to register as a commodity pool operator. If you intend to act as just an investment advisor, you may be able to simply register as a commodities trading advisor. Obtaining a series 7 or series 65 license may also be necessary in certain instances.
However, while registration is generally required, in some cases, it's possible to avoid securities and exchange registration. For example, if you will just be providing advice for clients and you're willing to comply with the rules and limitations, including limitations on the number of investors, you may be able to avoid SEC registration by obtaining a Registration D private placement exemption. Details about the restrictions for this exemption can be found under Rule 502.
Because there are a number of different securities and exchange requirements, and because the rules and exemptions to them can be quite confusing, it's in your best interests to consult with an experienced attorney who specializes in securities law. Your lawyer can help you to determine exactly what requirements you need to meet in order to begin legally trading futures on behalf of your clients.