I have a question regarding a subject that those in this thread might be able to help answer.
As a U.S. citizen/resident, to many others peoples money one would normally need to register as a CTA requiring taking the Series 3 and Series 34 for forex.
Commodity Trading Advisor (CTA)
According to this though, one can be exempt from having to do so if: “You have provided advice to 15 or fewer persons during the past 12 months and do not generally hold yourself out to the public as a CTA or”
IMPORTANT PART But I can’t find any information regarding compensation. Lets say you already trade retail forex and a friend/family member wishes for you to directly manage their account, and you don’t do this for than 15 people, are you allowed to be compensated for managing the person’s account, aka a performance fee?
Many websites seem to have varying information, in which I’ve also seen the number of $250,000 as another limitation to the exemption thought I don’t currently see it listed on the NFA website.
For reference here is another informative link