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ramack
Registered: Jun 2012
Posts: 31 |
08-17-12 05:15 PM
Hi,
I have an LLC which I am considering doing trading through the company. The trading would only be for the company itself and not as a service to anyone. Do I need to do anything as far as licensing , certs etc?
Long term this LLC would do the trading and I would pay myself out of the income of the trades.
With this type of setup, do I open a "retail" account or do I need something completely different since it would be a company account? This is probably a Fx broker question?
Rich
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Free Thinker
Registered: Nov 1999
Posts: 14316 |
08-17-12 05:21 PM
Quote from ramack:
Hi,
I have an LLC which I am considering doing trading through the company. The trading would only be for the company itself and not as a service to anyone. Do I need to do anything as far as licensing , certs etc?
Long term this LLC would do the trading and I would pay myself out of the income of the trades.
With this type of setup, do I open a "retail" account or do I need something completely different since it would be a company account? This is probably a Fx broker question?
Rich
whats he point? are you trying to protect yourself from you suing yourself.
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Redneck
Registered: Dec 2008
Posts: 2389 |
08-17-12 05:31 PM
Nothing better than answering a question with a question - and a stupid one at that - duh
OP
Sign up / register using your LLC - nothing to it
And yes a retail account - unless you plan to resell/ distribute data
RN
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Jack_Larkin
Registered: Jun 2011
Posts: 500 |
08-17-12 06:12 PM
"retail" yes, but you'd indicate that you're applying for a corporate account, not a personal one.
They'll need a bit more info about the company and a signature from someone within the company who has the authority to fund and trade the account. In this case, that is also yourself.
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Redneck
Registered: Dec 2008
Posts: 2389 |
08-17-12 06:32 PM
Between Jack and I - we'll get it covered 
They will most likely ask for a copy of your operating agreement (they did me) .., and need your tax ID (as opposed to your SSN)
RN
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ramack
Registered: Jun 2012
Posts: 31 |
08-20-12 08:01 PM
Hey guys, thanks for the response!
I have an EIN and the Op. Agreements for this single member LLC.
I plan to turn this into my day job and want to get everything squared away before I file end of year taxes.
Jack and Red, are you trading for yourselves or a trader in a company?
Rich
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