Trading other people's accounts

What are the legal procedures one needs to follow to start trading other people's accounts for them? I've got a few people who are interested in having me trade their money.

How much can you legally trade as an individual?

I'd like to hear from those who know and those who have done it/are doing it presently.

Thanks very much guys and gals!

-fighter

You can become a signal provider at zulutrade for free , just go their website and register a signal providers acccount. If you are good you wil earn money.

yeah, I have linked my MT4 and my signals to zulutrade and I'm getting 1 pips/trade since my account is with aaafx it also gives me full refund in cases when needed. if you not using mt4 there are also other options to trade your signals, but I vaguely remember. I am sure, if you ask, they will give you more detailed info.

What country?

If USA, then this should give you a good start: http://en.wikipedia.org/wiki/Registered_Representative

better ask the financial advisors around you

p.s. Zulutrade is NFA registered ans as far as I know all brokers inside are min country registered and more.

Just let them open an account in the broker they prefer, ask the broker the POA, let them sign, and u'll be legally ok to trade their accounts.
and ask a good profit-sharing, the 1pip bs of zulutrade is simply non-sense, come on.

You should take help of your local forex consultance regarding it. As each country have their own rule and regulation for forex trading.

I think the best way would be to use pamm system.
Alpari pamm, LiteForex pamm.. More and more brokers offer this.

I traded for a friend a couple of years ago. If the account stays in the owner's name and you don't charge (friends, family etc) then there is no regulation. If you are charging and pooling funds you need CTA and series certs.

This is for US. Other countries I don't know.

I stopped trading for him after a year. I was letting my account suffer trading his. If you are not pooling funds it is a nightmare switching between accounts for entries and exits. Unless you trade daily and higher so you have plenty of time to enter it is more trouble than its worth. Especially since I was doing it for free.

Thank you for your replies everyone! Lots of great info there!

I love forex factory!

-fighter

you can also use local trade copiers to transfer your trades to other accounts, I used to manage my wife's and brother's accounts with this

and I believe that there are no special legal procedures which you need to manage someone's account, especially if this is an account of you family member or friend.