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My Leeloo 150K Funded Account Journal


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My Leeloo 150K Funded Account Journal

  #61 (permalink)
userque
Chicago IL
 
Posts: 180 since Apr 2016
Thanks Given: 573
Thanks Received: 130


Flash Gordon View Post
Trade copying is illegal in the United States (no grey area here), with the exception of "you" having multiple accounts "just in your name only " and you apply software to copy the trade from one machine to the other to copy just "your" wholly owned trading accounts, -best, -fg

There is a whole copy-trading industry in the U.S.

Collective2.com, for example, where subscribers pay in order to copy another's trading signals. That is just one company that does it.

Also, IB has:

Friends and Family Advisors
Manage, trade and report on multiple accounts from a single master account or take the first step toward starting or growing an advisor business.


Footnote:
Many states have requirements that advisors register if they have any paying clients. Some allow advisors to have a de minimis number of paying clients. The rules vary from state to state. For example, Nevada has informed us that it requires that Nevada-domiciled persons be licensed as Investment Advisors to engage in this program per NRS 90.330. You must review the rules of your state and those of your clients to determine if you need to register.

Or did I miss something from the discussion?

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  #62 (permalink)
Flash Gordon
Burlington, North, Carolina/USA
 
Posts: 19 since May 2019
Thanks Given: 16
Thanks Received: 15


userque View Post
There is a whole copy-trading industry in the U.S.

Collective2.com, for example, where subscribers pay in order to copy another's trading signals. That is just one company that does it.

Also, IB has:

Friends and Family Advisors
Manage, trade and report on multiple accounts from a single master account or take the first step toward starting or growing an advisor business.


Footnote:
Many states have requirements that advisors register if they have any paying clients. Some allow advisors to have a de minimis number of paying clients. The rules vary from state to state. For example, Nevada has informed us that it requires that Nevada-domiciled persons be licensed as Investment Advisors to engage in this program per NRS 90.330. You must review the rules of your state and those of your clients to determine if you need to register.

Or did I miss something from the discussion?

I was referring to the scale that LeeLoo seems to be attempting. They clearly state "no power of attorney required" -best, -fg

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  #63 (permalink)
Flash Gordon
Burlington, North, Carolina/USA
 
Posts: 19 since May 2019
Thanks Given: 16
Thanks Received: 15



pfsthib View Post
So if I have several accounts and want to trade in all of them it’s illegal for me to do that with a trade copier?


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No, not at all. You can copy trade your own "owned" accounts and a limited number of "family" accounts (I think 15, not sure) all you want. -Best trading, -fg

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  #64 (permalink)
Ghappy21
plano TX/USA
 
Posts: 52 since Feb 2021
Thanks Given: 5
Thanks Received: 66

Santom, I enjoyed the thread but it stopped several months ago. How are things now? Are you still with LeeLoo? What are your thoughts about how difficult it may be to avoid liquidation, if one is being conservative? Any negative surprises with LeeLoo?

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  #65 (permalink)
mluka
Montréal, Canada
 
Posts: 35 since Jan 2014
Thanks Given: 12
Thanks Received: 11

So... no more news? What really happened???

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Last Updated on March 6, 2022


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