Legal Question in Investment Law in Florida

Gold spot market trading
I am looking to trade the spot market for gold and silver. I would like to bring on clients and use leveraged positions. I understand that the physical market is not regulated. There are several firms doing this and taking advantage of clients. Where can I get information on setting up this business with the help of an attorney. I wish to remain within the legal rules. Thank you in advance...John

Asked on 12/11/08, 2:05 pm

Warren Markowitz Warren R. Markowitz, Esq

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Re: Gold spot market trading

If you are looking to become a commodities dealer, you will need to register with the CFTC, the Commodities and Futures Trading Commission.

Also, if you are going to be managing investments for others you will need to register with the state as an investment or commodities advisor.

As for the leveraged positions, a financing relationship will be needed otherwise how will you leverage the positions.

I have experience in creating investment advisors, so if you need my assistance please contact my office to discuss things in greater detail.

Answered on 12/11/08, 6:29 pm

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