Im going to trade for a few people (relative) and I like that Oanda offers a feature where you can trade for others and they can pull out their money whenever they want. Has someone used this feature ? any feedback ?
However I don’t have a broker’s license, and I don’t know if Oana requires a broker’s license or not.
just go on Oanda’s live help and ask. I’m sure they’ll know for sure.
No. You aren’t a broker. You’re playing the role of a money manager. People will own their own accounts. However, they have to sign a contract allowing you the legal right to open and close positions within their account.
you don’t need a broker license
i’m a money manager too