Helpful tips

Is it legal to trade on behalf of someone else?

Is it legal to trade on behalf of someone else?

You cannot trade securities for others without becoming licensed as an investment professional. Investment professionals must be registered with the Securities and Exchange Commission or have a federal license.

Can I manage someone else’s stocks?

Yes. You do have to have that person’s permission of course. One way to do it is to get a power of attorney. Then you can basically trade stocks on that person’s behalf.

Can I manage someone else’s crypto?

When you want to trade crypto or other assets for anyone other than yourself, you need an account that allows you to hold other people’s money. Banks are very cautious when it comes to those trading on behalf of others or managing investments without a license.

Can I hire someone to day trade for me?

Yes you can hire anyone you wish to trade for you as long as you are the one making the decisions.

Is Buying Bitcoin for someone else illegal?

You can’t prove that you don’t know something. But someone else can prove that he owns those bitcoins. It doesn’t mean that you don’t own them too. So, the only way to buy bitcoins and the be able to prove that you are not the owner is to sell them to someone and get a receipt.

What is it called when someone manages your money?

fiduciary Add to list Share. A fiduciary is a person who holds assets in trust for someone else. That person has a fiduciary duty to take care of the money. Fiduciary can either be a noun to refer to the caretaker or an adjective to describe the trust.

Can you pay a trader to trade for you?

Can I hire someone to trade forex for me, on my behalf? I hear you ask. Yes you can. In fact, hiring someone to buy and sell in the forex market for you is a becoming a popular thing to do and increasingly more so as folk, like yourself, discover them.

Who will day trade for me?

Overview: Top brokers for day trading in August 2021

  • Fidelity. Fidelity Investments provides the core day-trading features well, from research to trading platform to reasonable commissions.
  • Interactive Brokers.
  • TradeStation.
  • TD Ameritrade.
  • E-Trade.