[starbucks]

I read an article in Forex Magnates today that NFA goes after PAMMs and money managers.

link : http://forexmagnates.com/nfa-now-goe...oney-managers/

Does any one know that is it illegal to be a money manager to trade for clients in Interactive Broker - Friend & Family program and oanda fxTrade Manager (less than 15 clients) without register with any regulated body ?

Is there any way to be a Money manager without register with regulated body ?

[Obsidian]

As far as I know, signing the limited power of attorney is enough to make you a money manager

[starbucks]

Originally Posted by Obsidian »

As far as I know, signing the limited power of attorney is enough to make you a money manager

Hi Obsidian,
Thx for the input. I think POA is not enough because it just authorised us to trade for clients. Correct me if am wrong.

[Obsidian]

If they needed any extra documents, wouldn't they let you know?

I remember that oanda has forex managed account available for u.s. division but it is only available to u.s. citizens.

[starbucks]

Originally Posted by Obsidian »

If they needed any extra documents, wouldn't they let you know?

I remember that oanda has forex managed account available for u.s. division but it is only available to u.s. citizens.

ya, oanda will ask you to sign some forms to declare that you are CPO etc something like that, but we are not CPO etc so how to over come this.....

[Obsidian]

Originally Posted by starbucks »

ya, oanda will ask you to sign some forms to declare that you are CPO etc something like that, but we are not CPO etc so how to over come this.....

I would tell you to try another broker but if you are a u.s. citizen you don't have many choice I guess

[starbucks]

Originally Posted by Obsidian »

I would tell you to try another broker but if you are a u.s. citizen you don't have many choice I guess

Which broker would you recommend, btw, I'm not US citizen. What the impact if NFA take action like my 1st post mentioned.

[Obsidian]

find a non u.s. broker and you are fine I guess...you can try thinkforex