CTA/NFA/CFTC Registration

C

chinook

I'm considering managing friends&family money by trading futures. I would like to do this by having the authority to trade their individual accounts (not in a pool where all the assets are combined).

According to this

http://www.nfa.futures.org/registration/cta.asp

I don't need to register as a CTA

1) If I don't advertise myself as a CTA publicly

2) Less than 15 people/managed accounts

Also, there's no upper limit to what can be managed.

Am I missing something here?


PS: IB has a $400k max on the Advisor account unless you're registered. I'm not sure why. According to info from NFA there's no upper limit on the money managed...
 
Don't ever mix family and money.. manage some friends money, but do not manage your family's money. I can only equate it to a heart surgeon who performs open heart surgery on his brother and his broher dies on the operating table. The doctor/brother could never forgive himself and neither could his family deep down. You could recommend a good managed cta for tehm or a cpo. (commodity pool)
 
Quote from nolajy:

Don't ever mix family and money.. manage some friends money, but do not manage your family's money. I can only equate it to a heart surgeon who performs open heart surgery on his brother and his broher dies on the operating table. The doctor/brother could never forgive himself and neither could his family deep down. You could recommend a good managed cta for tehm or a cpo. (commodity pool)
More...


I agree, it's actually friends' money...

Thanks...
 
Quote from chinook:

I agree, it's actually friends' money...

Thanks...
More...

Don't manage friends money, either. Everyone is a good trader in their mind, but 5% actually are. You are not doing yourself any favors.
 
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