I think I'm going to form a CPO and was wondering if forex could be traded within that fund or if it could only be commodities. Thanks
You can trade whatever you want. The thing you need to be most concerned about is whether you need to register as an investment advisor. If you exceed $400k or 15 people then yes, you need to register with the NFA. If you manage for anyone in California you have to register in that state, regardless of the number of people you manage for or how much money you manage. There are a lot of little details you have to be aware of.
I don't think for a CPO you need to register as a investment advisor. I know George Soros fund is registered as both a CPO and CTA and I'm pretty sure he isn't an investment advisor. Same thing with the Medallion Fund