Quote from someadvice89:
Hi all.
I have roughly 15k saved up and want to invest some of it, rather than it sit in the bank & earn a measly interest.
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Now, one of my high-school friends works at a firm as a broker trading futures.
I was interested to start trading with him about a year ago but for whatever reason it didn't happen.
I am not looking to 'get rich quick' -I just want an investment to make some steady profit, with possibility of investing more down the road.
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Is it a good idea to invest with future brokers?
He told me $20,000 is the suggested starting amount. $10,000 is a lot more limited but is also a good place to start.
-I was thinking closer to $5000.
-I dont know, are futures brokers a good bet? OR Should I take a different route with my money?
-Essentially he is doing all the work, I am clueless and just trusting him. My input is only how cautious or aggressive I want to be.
Would I be kissing this money goodbye?
He says he is very good, at the start of the he posted this via FB saying if you were to have invested 20k a year ago you would now have 48k.
All sounds too good to be true.
Any pointers would be appreciated?
Thank you.
These results don't seem compliant. I'd ask for the statements to show to an accountant.
The amount is right at $20,000. Investing any less will leave you undercapitalized when you have a drawdown.
And do some searches. The websites I know of have pretty good compliance and futures trading is for the best of the best so know he might have an edge but for the profits to come to you you've got to know if his trading's only because of an up market.