So by your reasoning this poor fellow should rely on the advice of ET posters rather than seeking the counsel of a good securities lawyer? LOL!
If you have good credit with a good history of paying your debts and have good cash flow that you can prove, you should have know trouble getting financing from MBNA,Advanta,Chase. I have lenders throwing money at me way under prime. RBS has 5.99% I can use this how ever I like cash, purchase, pay off higher interest. Advanta business card has zero percent for 12 months then 7.99% they send me convince checks begging me to use the credit line for zero percent for cash withdraws. I can take the cash and earn 5% just parking the money. Their is a one time 3% transaction fee with a cap at $75.00.
Go to a prop firm and spend the next two years "honing" your trading and establishing some respectability and creditability. As you grow in confidence you can start to prospect for potential clients when you are ready to go out on your own. If you are successful with your trading you accomplish two things: 1. You now have some meaningful capital 2. You also have a verifiable track record If you are not wiling to devote at least two years to your "education" then you will not make it anyway, so forget about it. SteveD This also forces you to have the proper license. Without that you are almost de facto guilty of fraud when something goes wrong or clients lose money.
I maxed all my cards. 150K borrowed. 0% ends this fall. Just sold a 200K condo, but the 200k is in a country where they don't allow currency to be wired out. Still not enough for my need. I am earning 8% to 10% on all my buisness investments, so I would take a one million loan at 6,7% without hesitation.
You can legally start a commodity pool with up to 15 other brave souls. You don't have to be licensed. I'm not sure what the incorporation costs and legal fineprint would cost you. You could be trading dozens of NQ's in no time.
Thanks for the advice. 1 I already have some meaningful capital 2 I already have a track record 3 I am afraid of "license" will strip away my "0 capital gain tax" status. If any pro firm is willing to let me trade from remote, and not force me to do volume so they can drink my sweat, and willing to give me low interest overnight capital for position trade or give me firm capital to share profit, I will jump on them in no time. So far, still searching.