New CTA Questions

M

miller2082

Hi Folks,

I have a few questions about setting up a new CTA.

1- My first question has to do with business management software.
Is there a software package out there that can be used to prepare client statements?
I do not have a clue how to do this. It wasn't covered on the Series 3!

2- CTA friendly brokers: can anyone recommend a broker or two that is friendly and helpful to new (still in the box new) CTAs that will promote the CTA on their website?

3- Raising funds: will I get enough business from a broker site (and my own CTA site)? If not, who should I be calling? Banks, rich guys in town?

I am sure that this has come up before, but I would appreciate responses from anyone with first hand experience.

Thanks in advance, and God bless.
 
Quote from miller2082:

Hi Folks,

I have a few questions about setting up a new CTA.

1- My first question has to do with business management software.
Is there a software package out there that can be used to prepare client statements?
I do not have a clue how to do this. It wasn't covered on the Series 3!

2- CTA friendly brokers: can anyone recommend a broker or two that is friendly and helpful to new (still in the box new) CTAs that will promote the CTA on their website?

3- Raising funds: will I get enough business from a broker site (and my own CTA site)? If not, who should I be calling? Banks, rich guys in town?

I am sure that this has come up before, but I would appreciate responses from anyone with first hand experience.

Thanks in advance, and God bless.
More...

Being a CTA is not a causal choice. You have to set up a business and it costs money. You have to be a member of the NFA and be regulated by them. You need to set up your CTA, have an admin. to do your billing, an attorney set up your agreements. From time to time the NFA will ask for an audit. This does not sound like you are ready for this. It is very easy to break NFA rules if your not prepared.

I would start with having a conversation with an admin. that can advise you on your set up and discuss the business end of being a CTA.

If you PM me with your email address, I'll recommend one.

1245
 
Quote from Pipflow:

CTA ? Could you guys tell us what are all these things for anything useful for the new forex traders.
More...

It's not useful unless you would like to trade OPM in the future.

1245
 
Thanks for the replies.

The main thing that I am after at this point is a software package to handle all back office needs, such as client statements, performance records, etc.

I would much rather handle this admin myself rather than outsource.

Is there a software package out there that I can buy for these tasks?
 
Quote from miller2082:

Hi Folks,

I have a few questions about setting up a new CTA.

1- My first question has to do with business management software.
Is there a software package out there that can be used to prepare client statements?
I do not have a clue how to do this. It wasn't covered on the Series 3!

2- CTA friendly brokers: can anyone recommend a broker or two that is friendly and helpful to new (still in the box new) CTAs that will promote the CTA on their website?

3- Raising funds: will I get enough business from a broker site (and my own CTA site)? If not, who should I be calling? Banks, rich guys in town?

I am sure that this has come up before, but I would appreciate responses from anyone with first hand experience.

Thanks in advance, and God bless.
More...

1) your broker will do that otherwise or an accountant.
2) vision and dorman are two of the brokers wca uses.
3) you shouldn't expect to be able to handle that unless you already have clients.

Your answer then is:

Worldcupadvisor.com sir. Good luck in incube. I should mention not quite to warn you but your trading must be world class or don't waste their time. Keep dd below 40% and apr expectations twice that.

I try to keep simple monthly average rates of return above double digits so unless that's possible for you then nobody's going to help you unless you really are that good or well prepared for such competitiveness.
 
Quote from Arb Under Par:

dmaxx - the books
hedgefacts
ctaoffice.com

to name a few. the first two can be brutally expensive if you are managing less than 10mil.
More...

Arb Under Par,
Thanks for the information.

I spoke with a firm that handles all back office and they help raise funds for a 20% cut of mgt and perf.

Not sure how connected he is in the allocation arena but I will find out soon enough.

If you know any influential fund raisers with similar or less cut, I would love to get the firm name PM.

Cheers.
 
Quote from miller2082:

Arb Under Par,
Thanks for the information.

I spoke with a firm that handles all back office and they help raise funds for a 20% cut of mgt and perf.

Not sure how connected he is in the allocation arena but I will find out soon enough.

If you know any influential fund raisers with similar or less cut, I would love to get the firm name PM.

Cheers.
More...

Don't try to raise without a compliant track record or disclosure document.

It will only get you into trouble with the NFA.

Friends and family should be your first choice to establish your track record if you don't have one and especially if you have no ddoc.
 
Quote from bwolinsky:

Don't try to raise without a compliant track record or disclosure document.

It will only get you into trouble with the NFA.

Friends and family should be your first choice to establish your track record if you don't have one and especially if you have no ddoc.
More...

BWolinsky,

Thanks for the advice.

The NFA watch dogs are on high alert, I am sure.

Every single sentence that I produce in relation to my firm and my the services that I provide will be cleared through the NFA prior to publication.

And I will certainly have a solid disclosure doc to present to potential clients.

Sound advice, Wolinsky.

Thanks.
 
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