answer:According to Investopedia, this is what an FCM is: A futures commission merchant is able to handle futures contract orders as well as extend credit to customers wishing to enter into such positions. These include many of the brokerages that investors in the futures markets deal with. What does that mean? Just as brokers can charge fees for a transaction, or lend investors money to purchase shares, an FCM does the same thing for futures. I.e., they can arrange futures transactions and collect a commission and they can lend money to investors who wish to purchase futures.