I created an automated model that can give pretty good returns, but don't have the capital required to get started. I have considered selling my trade commands as a service to those who have the capital, perhaps via Interactive Brokers (I would their account information on my Trade Workstation), but am concerned that by selling my model's trade commands I would fall under the category of a securities dealer or financial planner and need a license. What do you think? Do you have any sites I could visit that could give direction on the subject? Thanks in advance, -Intelligent Software
You might want to check out this presentation on starting a hedge fund. It goes through some of the regulations: http://www.hedgefundlawblog.com/hedge-fund-start-up-presentation.html