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I would not be handling any client monies. My broker handles all that side of things. I would only be trading, I trade for myself and my trades are copied to others accounts. I would receive a commission based on performance.
My broker is based in Australia and is fully regulated by ASIC under the Australian Financial Securities License (AFSL 385620). It is they who have suggested I trade a MAM (Multi Account Manager) account. I just want to be sure I'm not braking any UK laws by doing so as I am based in the UK
No.The broker explained it to me thus:"You are the trader and it is your MAM. Clients will not be able to contact you directly and will go through us if they have any questions. From our side we would simply be facilitating connecting clients to your MAM as an executing broker."They also said I would need to ascertain what the laws are in the UK in regards to licensing and trading on behalf of others.