FSA license / OPM

[macrotrader98]

Hello,

what do I need to be able to trade clients money in the UK? What are the costs and how do I become a registered advisor? I am currently not based in the UK, but I want to move there within the next 1-2 years. I will probably want to start a company and open a hedgefund or managed account structure. My current estimation is that I need 5,000 GBP and 6 months to get started.

 

[MrGecko]

unless you want to be an IFA (which you don't), you'll need to be Mifid compliant, which aint easy. You'll need an experienced team behind you and - if memory serves - at least 70 grand that you plonk away, depending on how you are classed.

 

[macrotrader98]

Right. 70 grand seems a bit high for me. What are the requirements in terms of experience?

Is it the same for managing a few accounts? As far as I understand in some states of the US it is possible to manage up 15 accounts / 25 m$ without becoming registered.