I wasn't clear at what point you need to have your series 3 license. I can trade futures in my personal account at IB, but not sure if I can do so as an advisor (not registered). The websites I've seen are pretty vague. Anyone have any advice?
You can manage < 15 clients and you do not hang yourself out as an advisor, you do not need to register or the 3 (also check State laws). If over 15 clients, then you need a 3 and NFA registration with DD. This is what IB's Friends & Family is for.
Ya that's what I am running now. Another problem I had is that some sub-accounts aren't even large enough to hold one contract. If the margin for 1 futures contract $8,000 and you have $5,000 in one sub-account, they can't even participate. Sucks.