For us small time guys.....being classified as an investor rather than an entity is better in the US, IMO.
Of course tax people will say you need LLC but it's just another expense you don't need while starting out.
Here is some food for thought for you! http://www.traderplanet.com/articles/view/165392-a-recent-court-ruling-on-trader-tax-status/ https://greentradertax.com/trader-tax-center/trader-tax-status/how-to-qualify/