Trading for others

Discussion in 'Professional Trading' started by Bdeines1, Jul 9, 2013.

  1. Bdeines1


    I have been trading on my own for several years now with success. I have others who would like me to trade their 401k and other cash for them. How can I do this legally? I don't have any license such as a series 7. Do I have to get one? What about setting up a contract or corporation? Power of attorney?

    Thanks in advance for any suggestions or direction.

  2. chimera


    it's good until you lose them $1...then the screaming starts!
  3. A lot depends on what state you live in. If you're receiving some sort of compensation for the trading and are doing it as a business activity you might need to register as an investment adviser. See your state's securities regulator website for more info on what its requirements are. Different states have different exceptions/exemptions from having to register.
  4. seadog


    chimera is right.
  5. chimera


    define success.