Best state to start trading business?

Discussion in 'Professional Trading' started by Steven676, Aug 1, 2011.

  1. People want me to manage their money for them. You may have seen my 2 other threads on this topic.

    At Interactive Brokers they said if I set up in CA I can have up to 15 clients with their "friends and family" account. They said in NY I can have 15, but can only charge 5 of them fees. I imagine that this is based on state law.

    1) Where can I find out about the state laws governing this issue?

    2) What would be the best state to start up in?

    3) They said if I was registered I could have more. Is this registered to be a CPA, CFA, or what?

    Thanks so much to anyone who replies!