Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighHeld a genuine US NFA and CFTC introducing broker registration from 2004 to 2016, but it was voluntarily withdrawn and the firm now operates with no current regulation.
Identity & transparency
2/10 · LowFully transparent: a named owner, a verifiable Florida entity and a fixed address that match the regulator record, the state registry and the website.
Withdrawals & conduct
2/10 · LowNo withdrawal disputes or fund complaints found anywhere; as an introducing broker it never held client money directly.
Reputation
4/10 · ModerateNo adverse reports and no warning-list hits, but almost no independent review footprint, which limits what can be confirmed either way.
Website claims
6/10 · HighMakes no false regulatory claims, but a stale site still soliciting account openings for a dissolved, de-registered firm is misleading by omission.
Operational history
4/10 · ModerateA real, verified twelve-year history from 2004 to 2016, but the company is now dissolved and the operation is defunct.
Who they are
A quick desk file on the company behind the brand.
A small, owner-operated US commodity futures and options brokerage that has wound down.
- Brand: TKFutures Inc / T & K Futures and Options
- Legal entity: T & K Futures and Options, Inc. (Florida corporation P04000142669, FEI/EIN 35-2239492), voluntarily dissolved 12 December 2016
- Registered: 2525 SW National Circle, Port St. Lucie, Florida 34953, United States
- Owner: Michael K. Smith (president, sole director and registered agent)
- Website: tkfutures.com (last meaningfully updated around 2015)
- Former registration: NFA member and CFTC-registered Introducing Broker, NFA ID 0349054, from 19 November 2004 until 20 October 2016 (now withdrawn)
- Offered: broker-assisted and managed commodity futures and options accounts, introduced to a clearing futures commission merchant
- Age claim: established 2004 (verified)
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
National Futures Association / CFTC (US Introducing Broker registration)
Why we reached this verdict
How the evidence adds up.
We rate T & K Futures and Options high risk because it is no longer an operating, regulated broker, not because we found any wrongdoing.
- The National Futures Association public record (BASIC) shows the firm as 'Not an NFA Member', with its introducing broker registration and NFA membership both withdrawn on 20 October 2016, and an earlier forex-firm approval withdrawn back in 2012.
- Florida state records show the company filed a voluntary dissolution effective 12 December 2016, so the legal entity that once held the registration no longer exists.
- The record is clean: zero NFA actions, zero CFTC actions, zero exchange actions, zero arbitration cases and zero reparations, across more than a decade of registration.
- The website is a relic that still carries solicitation language and an 'Open Account' button, even though there is no registered entity behind it today.
- On the evidence alone the risk score sits in the low 40s, driven by this lack of current regulation. We publish 65 percent because a defunct, de-registered firm whose site still invites deposits, and which has no verifiable current customer footprint, must not read as a safe broker. This reflects the profile, not misconduct we found.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The National Futures Association public record (BASIC) lists T & K Futures and Options Inc, NFA ID 0349054, as 'Not an NFA Member', with its introducing broker registration and NFA membership both withdrawn on 20 October 2016 and an earlier forex-firm approval withdrawn in 2012.
Hard proofNFA BASIC (National Futures Association)E2The same NFA record shows a clean history: zero NFA actions, zero CFTC actions, zero exchange actions, zero arbitration cases and zero reparations cases across the firm's 2004 to 2016 registration.
E3Florida Division of Corporations records show T & K Futures and Options, Inc. (document P04000142669) was filed on 15 October 2004 and is Inactive, its last event a Voluntary Dissolution effective 12 December 2016.
E4The domain tkfutures.com was registered on 26 October 2004 and is still renewed (through 2027), matching the firm's stated 2004 founding, so there is no exaggerated-age claim.
ModerateVerisign RDAP (domain registry)E5The firm's website makes no regulatory claims at all: it displays no NFA or CFTC membership badge and no registration number, so it does not misrepresent itself as currently regulated.
E6The website is an out-of-date relic (its copyright line reads 2004-2015 and its pages use early-2000s layouts and dead images) yet it still carries solicitation language and an Open Account button, with no notice that the business has closed.
E7The business is openly owner-operated by a named, public figure, Michael K. Smith, listed as president on the site and as sole director and registered agent in the state record, at the same Port St. Lucie address shown on every official record.
E8A sweep of Trustpilot, the Better Business Bureau, ForexPeaceArmy, Reddit and regulator warning lists found no customer complaints, no withdrawal or fund disputes, and no warning or enforcement entry naming the firm, its domain or its owner.
ModerateTrustpilot, Better Business Bureau, ForexPeaceArmy, Reddit, CFTC and NFA records
The other side
The strongest case in this broker’s favour.
There are good reasons to see this as a wound-down legitimate business rather than anything sinister.
- For twelve years it was a properly registered US introducing broker and NFA member, which is a genuine federal-level registration, and it kept that record clean the entire time.
- Both the deregistration and the company dissolution were voluntary and filed in the normal way, which is what an honest owner does when closing a business, not what a fraud does.
- The owner, Michael K. Smith, is a real, named and public figure: a commodities author quoted by Bloomberg, Reuters and The Wall Street Journal, operating from a fixed Florida address that matches every official record.
- As an introducing broker the firm never held client money directly; customer funds sat with a separate clearing futures commission merchant.
- No customer has ever reported a lost deposit, a blocked withdrawal or any other fund problem.
What would change this
What we would need to see to revise the verdict.
Here is what would move this rating in either direction.
- Lower risk: the owner takes the old website down, or adds a clear notice that the firm has closed and is no longer registered.
- Lower risk: a fresh NFA registration appears for the entity, bringing it back under CFTC and NFA oversight.
- Higher risk: credible reports that the old site is being used to take deposits today, or that someone is accepting money through it.
- Higher risk: any regulator warning, enforcement action or customer fund complaint naming tkfutures.com or the company.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
NFA BASIC record for T & K Futures and Options (NFA ID 0349054)
US regulator record showing the firm is Not an NFA Member and its registration was withdrawn in 2016.
Florida Division of Corporations record for T & K Futures and Options, Inc.
State record showing the company was voluntarily dissolved effective 12 December 2016.
T & K Futures and Options website
The firm's own site, which has not been meaningfully updated since around 2015.
Frequently asked questions
Quick answers about this broker’s safety.
Is T & K Futures and Options a scam?
No. We found no evidence that it is a scam or that it defrauded anyone. It was a properly registered US futures broker for twelve years with a clean record. The reason we rate it high risk is that it closed down in 2016 and is no longer a registered or operating broker.
Is tkfutures.com a fraud?
There is no evidence of fraud. No regulator has warned about it, no enforcement action names it, and no customer has reported losing money. The honest concern is not fraud; it is that the company was dissolved in 2016, so the website no longer sits behind a real, regulated firm.
Is T & K Futures and Options regulated?
Not any more. It was a National Futures Association member and a CFTC-registered introducing broker (NFA ID 0349054) from 2004 until 20 October 2016, when the registration was withdrawn. Today it has no US regulatory oversight.
Can I open an account and trade with them today?
You should not. The company behind the site was voluntarily dissolved on 12 December 2016 and its registration was withdrawn, so there is no licensed firm to open an account with. Use a broker that currently shows an active status on NFA BASIC instead.
Is my money safe with T & K Futures and Options?
There is no current, regulated firm to hold your money, so do not send any. When the firm was active it was an introducing broker, which means client funds were held by a separate clearing firm, not by T & K itself.
Who owns T & K Futures and Options?
Michael K. Smith, who is listed as president on the website and as the sole director and registered agent in Florida state records. He is a commodities author who has been quoted by Bloomberg, Reuters and The Wall Street Journal.
How old is the company and when was it founded?
It was founded in 2004. The Florida company was filed on 15 October 2004, the domain tkfutures.com was registered on 26 October 2004, and NFA registration began in November 2004. Those dates match, so the 2004 founding claim is genuine.
Was it ever a real, licensed broker?
Yes. For twelve years it was a genuine NFA member and a CFTC-registered introducing broker, with zero regulatory actions, zero arbitration cases and zero reparations cases on record.
Why is the website still online if the company closed?
The domain is still being renewed, so the old pages remain visible even though the business shut down in 2016. The content has not been meaningfully updated since around 2015, which is a sign the site is a leftover rather than an active operation.
Is tkfutures.com the same as tkfuture.online?
No. tkfuture.online is a separate website with a very poor trust reputation and is not connected to this firm. This report is only about tkfutures.com, the long-running Florida business run by Michael K. Smith.
Has T & K Futures and Options ever been fined or had complaints?
No. Its National Futures Association record shows no NFA, CFTC or exchange actions and no arbitration or reparations cases, and we found no customer complaints on review sites or regulator warning lists.
What should I check before using any US futures broker?
Search the firm on NFA BASIC at nfa.futures.org and confirm it is currently registered and an NFA member, not withdrawn. Check for an active status, read the registration categories, and look for any regulatory actions before you deposit.
What we recommend
The practical takeaway from everything above.
Treat tkfutures.com as a closed business, not a broker you can open an account with.
- Do not send money or open an account through the site; there is no registered firm standing behind it.
- If you want to trade US futures, choose a broker that currently shows an active, registered status on NFA BASIC at nfa.futures.org.
- If anyone contacts you claiming to be this firm and asks for a deposit, treat it as a red flag and verify independently.
- If you hold an old account or balance tied to this name, contact the clearing firm that held your funds, not the website.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 12, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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