Yes it is easy to get millions of people to trade forex for you. Some of them may be experimenting the forex market with your hard earned money, others maybe trying hard to see if they can succeed with such a venture, and then few others may really be real to bring you profit on your money.
Is it illegal to trade forex for someone else?
In the US, it is illegal for anyone to solicit your funds for management unless they’re fully licensed by FINRA under one of their certifications for money managers and related fields. The one exception is the friends and family rule.
Can anyone start a hedge fund?
Yes, you could start with much less capital, or go through a hedge fund incubator, or use a “friends and family” approach, or target only high-net-worth individuals. But if you start with, say, $5 million, you will not have enough to pay yourself anything, hire others, or even cover administrative costs.
Should I pay someone to invest my money?
You don’t need to pay someone to manage your investments for you. In fact, you may be MUCH better off doing it on your own, and it doesn’t have to be hard or take a lot of time.
What is it called when you manage someone’s money?
That started a conversation around the lunch table: It turns out that several of us know people who have signed papers making them responsible for helping a friend or family member manage their money or property — that is, who serve as fiduciaries.
Can someone else trade for me?
You cannot trade securities for others without becoming licensed as an investment professional. Investment professionals must be registered with the Securities and Exchange Commission or have a federal license.