How to prove I traded the account of my relative?

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bpj

How can I prove that I traded my immediate family member's futures account if there was no Power of Attorney in place?
My broker wanted to charge extra commission for establishing such a POA and we wanted to avoid it. Now I want to show these were my trades - any suggestions welcome
 
bpj said:
How can I prove that I traded my immediate family member's futures account if there was no Power of Attorney in place?
My broker wanted to charge extra commission for establishing such a POA and we wanted to avoid it. Now I want to show these were my trades - any suggestions welcome
More...

Self-directed traders are not allowed to give their username and password to others. If you have a number of people who you want to trade for, then just approach the broker and tell him you may bring the additional volume of family and friends. If you build a track record under a POA, you could use that later if you become licensed as a CTA.

I am sorry but you asking traders how to get away with something you should have not done.
 
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MattZ said:
Self-directed traders are not allowed to give their username and password to others. If you have a number of people who you want to trade for, then just approach the broker and tell him you may bring the additional volume of family and friends. If you build a track record under a POA, you could use that later if you become licensed as a CTA.

I am sorry but you asking traders how to get away with something you should have not done.
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Hum, enlighten me with the specific NFA/CFTA paragraph handling these short of "issues"?
 
bpj said:
How can I prove that I traded my immediate family member's futures account if there was no Power of Attorney in place?
My broker wanted to charge extra commission for establishing such a POA and we wanted to avoid it. Now I want to show these were my trades - any suggestions welcome
More...

You go to a CPA (certified public accountant) and ask him/her to make a note in the accompanying track record audit/compilation report that you traded the account.

Problem solved.
 
Nighthawk said:
Hum, enlighten me with the specific NFA/CFTA paragraph handling these short of "issues"?
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You are more then welcome to call your FCM and ask them if you can just pass credentials around and then call the CME and get their perspective on the same matter. You are not allowed to provide individual credentials to your trading platform unless both you and the POA party have agreed to this through a signed document the FCM provides.
 
Nighthawk said:
You go to a CPA (certified public accountant) and ask him/her to make a note in the accompanying track record audit/compilation report that you traded the account.

Problem solved.
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Good luck in finding a CPA that's going to give you a note of "verification" with no proof of anything. How do you prove to the CPA you traded the account?
 
bpj said:
How can I prove that I traded my immediate family member's futures account if there was no Power of Attorney in place?
My broker wanted to charge extra commission for establishing such a POA and we wanted to avoid it. Now I want to show these were my trades - any suggestions welcome
More...

The typical fine for doing this on the CME is 20-50k for an individual and suspension from trading for a year to possibly forever.

Just look up CME regulatory actions for Tag50 violations. A lot of trading regulations are very easy to run afoul of and carry penalties from $$$ to prison.

I’d avoid obtaining proof.
 
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