The reality of providing information over the internet is that it is almost impossible for a government in a foreign jurisdiction to come after you.
Unless you are taking payment for investment funds or actually selling products for a commission. stock picking or market commentary or market opinions like websites are not financial advise. the regulators don't really care about average joe stock blog, the reason they want it regulated is clients won't deal with people who are not regulated when making big purchases or buying financial products. you cannot manage other people's money or work for any major firm that requires a license or sell mutual funds with a license. the only reason for regulations is to separate the here today gone tommorrow fraudsters or who lie. financial advisors lose their license if they violate code of conduct like lying to clients. online finanical services are no financial advise. CNBC has disclaimer saying it's not financial advise but opinions of the TV station. your website is your opinion. not 'financial advise' it's under the freedom of expression. you just cannot call yourself a "financial advisor".
thank you - that brightened my day))) do you think if I still provide detailed exit and entry recommendations - I can still present that as the educational material....like "full-featured market-wide analysis that teaches you how to identify and combine various levels and set-ups in your trading"? I can present that as the educational service - first of its kind full market analysis dynamic educational platform? will that not repel the clients who are looking for the traditional signal services? thanks a lot for your input!)
I have been recommended to open up the post office box in UK and use that as the company address in all correspondence - without registering at all....do you think that can be a way to go for the first time - before the services starts off with some clients?
that is like a breath of fresh air on a very hot day! yes all my analysis is my opinion at the end of the day - it is not advice in the sense that you describe - it is just the service to help ease the lives of the ordinary traders who do not wish to do all the HARD WORK OF IDENTIFYING THE MAJOR PRICE LEVELS.....I help them with their daily technical analysis work......they can rely on my opinion fi they wish - so this cannot be classified as advise even if there are the SPECIFIC ENTRY AND EXIT recommendations given? thanks!!!!!!!!!!!!!!
If you want a piece of advice, forget about the UK. The government's heavy handed approach made it a terrible place for financial advisor start ups and it's still a terrible, terrible, place if you are a consumer of financial services. The business you describe is regulated by FSA, you will need a licence. If I were you I would incorporate in Moskow and find my niche.
thanks....but I am planning to offer this service globally....not only UK or Russia - do you think it can be a good idea to register in Russia and start form there? I am myself feel uneasy about the Russian legislation and the corporate culture...
thank you for your reply...I do try to think more optimistically)) have you started the same service before?
It is interesting to note what one of the firms doing very similar analysis and already with many forex trader clients to say about this!! It is registered in UK! I wrote them about being regulated BY FSA and here is what they answered: We are not FSA regulated as we do not provide financial advice and all our information is for Education. We are registered in both the UK and US and provide research as well as software services. Do you think I can mimic their disclaimer I an pass under the radar?