I'm sure someone out ther has experience with this question? I currently trade for the "house" and i'm under contract. The contract states " trader shall not actively trade any account titled in trader's name if such account has been funded, in whole or in part, by any person or entity other than the trader." My question is, Can i open a trading account with my own money and trade on margin? If anyone has any clue i would really appreciate it. Thank you
This is a version of a standard contract for professional services. In my office (I am retired as of a couple of months ago), everyone had the same contract at hand. Simply stated, it means you cannot trade an account that is funded by someone other than you. It is meant to keep you from working for a third party. Your contract may have other restrictions, but based on this language, if you fund a personal account with your own money, you can trade it without violating your contract. The margin part doesn't matter. I am sure I am correct, but as a matter of courtesy (and to protect myself) I would advise you to confirm this with your attorney. Good luck Steve