Re: Online Forex Trading?

Question

Do I need a license to start an online Forex Trading Service? I live in the US.

Answer 1

do you already have a platform?  if not yet, you may inquire from this site. they have launched a Portfolio Manager system onboard their own platform so you can easily and professionally run your own Forex Portfolio, by managing your clients' trading accounts onboard a designated platform and leverage the potential. theirPortfolio Manager section allows individuals, who wish to trade on behalf of several traders, as well as for themselves, to run a comprehensive Forex trading suitable for a group of traders and is a perfect sub-platform to enhance your Forex business activity, while operating onboard a world leading platform.

Answer 2

There is too many competition for online Forex Trading service.

Answer 3

no, but you would need a lobotomy to think that you can make any money in forex (regardless of what infomercials you see at 2:30 in the morning tell you).

Answer 4

No. It;s just a retail account like a stock or futures account.

Answer 5

Pursuant to the Retail Forex Transactions Regulatory Guide by the National Futures Association (NFA) (page 3, section titled "Account Managers") and the CFTC Division of Trading and Markets Advisory Concerning Foreign Currency Trading by Retail Customers (page 3, section titled "Managing Retail Off-Exchange Foreign Currency Accounts" ), a person that manages the funds of retail customers held by an enumerated entity under the Commodity Exchange Act (banks, broker-dealers, FCMs - Futures Commission Merchants, affiliates of broker-dealers or FCMs, insurance companies, financial holding companies or investment bank holding companies), solely to trade in off-exchange foreign currency futures and options contracts, would not be required to register with the Commission as a CTA, but may do so voluntarily. See also the CFTC Staff Interpretative Letter No. 01-91.

Hope this helps,

Jim http://jsforex.blogspot.com

Answer 6

If you mean to be forex broker, then sure you will need license.

If you mean being forex trader, then you don't need license, all what you need suitable broker, suitable system and sure some money to begin .

Being forex trader not difficult , but being forex guru is the difficult thing .

but also not difficult with the new automated forex systems that trade for you like forex gurus without any human intervention .

I recommend this system for any forex trader :

http://the-forex-tracer-review.blogspot....

Check it if you want the forex success

Answer 7

No license is required; all I did was buy a trading system and let it do the work. This way I could keep working and have two streams of income with no extra effort on my part. Now have I have enough money saved that I never need to work again if I choose not to.

If you're looking at a trading system what you do (and what I did) is make sure the trading system has a 60 day money back guarantee first; then make sure you can use a demo account. A demo account let's you play the trading game with "play money" so you can see if you can profit from the trading system without investing your real cash.

Use the demo account for 59 days and if you see you can make profit you keep the system and invest your real cash. If there's no profit to be made you get a refund and try another system; there's literally no risk when buying one.

If you're interested I found reviews of the top 3 Forex trading systems: http://forex-funnel.the-perfect-solution...