Sorry, my question is off the subject but you would be the one to know. Are brokers trading futures for their own accounts and MM's bound by SPAN the same as retail traders? I would think they are, but maybe at a lower rate. Thank you.
It is my understanding that margin on futures is determined by the exchange. They have one requirement from the customer and 8% of that is also required by the FCM. I don't think that requirement changes if the futures are traded by a customer, member of the exchange or an FCM. The exchanges are responsible for counter party risk and have a certain requirement that must be met. BTW, this margin is only calculated for overnight positions.
Yes, a series 65 license (investment advisor representative) is required to run OPM in most states. For futures, I think only the series 3 is required, however I'm not sure.
Consistently profitable with appropriate draw downs. I say "appropriate", because if your net is 30%/year or 5%/year, the acceptable draw downs are different. Then your return will have a target market. Some will be looking for low risk, low leverage and 6%. Others will want 20%+ and be willing to take on more risk. Investors clearly have a comfort level. They need to understand what you are doing and feel like they are missing out if they don't participate. They also invest in the manager and a business. They want to feel comfortable with the manager and know there is an infrastructure behind what he is offering. One man shops are a harder sell.
Not sure. Depends on who you choose to form the fund and who you choose for each provider. You have to shop around but keep in mind that for larger allocations, you can save money by using a auditor from India.