CTA in USA

moka2

Established member
529 14
IS it not true that legaly speaking to promote any "Trading System" related to say Futures in USA one has to be a CTA
If it is then how come there are many so called "Chat Rooms" Trading rooms etc
Who do charge a fee and strictly speaking give financial recommendations ( Buy / Sell recommendations)
How come?

Is anybody bothered ?
If you were to do this in Australia and ASIC looks at you you may end up in Jail!

Wher is consumer protection in USA?
 

wackypete2

Legendary member
10,229 2,053
It's not true. You no not need any type of license to publish a financial newsletter (or chat room) as long as you are giving the same information to everyone. If you give any advice to a specific person or advice about an individual's financial health then you would need to be licensed by FINRA.

A better way would be to tell people what YOU are buying/selling and not what THEY should be buying/selling.

Always use a disclaimer about past success does not mean future success.

Consumer protection generally refers to illegal, unlawful, or unsubstantiated claims.

Peter
 
Last edited:

rsh01

Experienced member
1,184 299
If you were to do this in Australia and ASIC looks at you you may end up in Jail!

Wher is consumer protection in USA?

ha ha moka2, are you having a laugh?

the gold coast, the biggest financial products related scam hosting region in the whole wide world. bigger than nigeria (imo based on trading forums).
 

moka2

Established member
529 14
Consumer protection generally refers to illegal, unlawful, or unsubstantiated claims.
WOW so oen can get away by "tell people what YOU are buying/selling and not what THEY should be buying/selling."
I must go to Gold Coast and let the "White shoe Brigade" Snake Oil peopel selling softwares from Race predictions to Sports arb betting people to forget ASIC and go to US of A LOL
Freedom
 

moka2

Established member
529 14
LOL there was company selling Stock trading Blax box software which listed on ASX Stock Exchange .. I think it was called Tomato Technology .. based in GC
 

moka2

Established member
529 14
Yes teh point was I was trying to find out of anybody has had the same question.. just the other day through one of minor Futures rtroker I attended a seminar by a NON CTA person claiming great success in last 7 moinths etc but when asked show me the proof .. all sort of evasive answers
SO teh pointis is this all legal!
 
 
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