Advice needed

[lee762]

Guys sorry if this sounds a silly question.

I know that to trade a clients money you have to be registered and authorised, but if you are mirroring the clients money with your own do you still have to be authorised.

Here is an example;

client come to me with £10k to invest, I sign an agreement with them to say that I will use my money to trade on their behalf and will take a % of the profits. They in turn place the funds into an escrow account under their control and as long as the funds are there the trade will happen.

I know this sounds a totally crazy concept but would still like to know.

Thanks

 

[mike.]

client come to me with £10k to invest, I sign an agreement with them to say that I will use my money to trade on their behalf and will take a % of the profits. They in turn place the funds into an escrow account under their control and as long as the funds are there the trade will happen.

So, you take all the losses while the money in escrow is completely safe ?

where do you want the cheque sending ?

 

[DitterPD]

Can you elaborate, I don't quite what's the catch.

 

[lee762]

Can you elaborate, I don't quite what's the catch.

there is no catch im just trying to find out the legal aspect of the deal.
do I have to licenced and registered.

 

[ffsear]

I think the one way would be for the client to open an account with his 10k then give you POA over the account.