LOL...Priceless. Seriously this industry doesn't need a transaction tax, but a tax on every commission generating activity around trading. And a prohibitive one.
You can not guarantee that people after taking your course will actually trade through you giving you commission. How can you force them to do so???
Michael, even if legally the setup you are after WAS possible, what makes you think people will stick with you after the course. I would happily take your course maybe even open up an account with you and make a couple of trades to keep you happy. And then IF your strategy turns out to be profitable and I havent already lost my money then I will just take my account over to IB and not have to worry about paying you your commish.... (Sorry Pekolo, just say you'd made exactly the same point....)
I looked into IB a while ago and if I remember correctly to trade 1000 shares would call something like 10 or $15 minimum round trip anyway this way they get the same commission structure plus the structure of someone who can help them along the way
right, so your saying you want to set yourself up as a brokerage? Thats a pretty big investment there not to mention the time investment involved there.... Some one may correct me here, but seems like there are much easier ways to receive similar returns on your investment......
But you want to charge 2-3 times as much with your $20-40 fees. Again, how make you stay with you AFTER the course???
Don't forget your fees. Running a brokerage isn't cheap and there will be regulations and requirements. KYC alone might cost you millions.
Thats why I post here...I'm not aware of what fees I'll have. Like what is KYC? And if it is too expensive, is it possible to like partner with a brokerage firm and then trade through them?
know your client Are your customers using your shop to launder money for terrorism or drugs. If they are and you don't do the proper dilligence you can get thrown in jail. I don't know much about this, but if you are running your own brokerage, there is a lot you have to do. If you are an introducing broker I don't know what the requirements are. Anyway it seems like a lot of work to sell a futures program. Just charge people $3,000 a lesson and not have to worry about "upkeep"