Do you need a license to trade currency?

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I've read that you need to pass the Series 3 exam in order to trade currency for others, specifically here in the USA.

Is there any truth to this statement? Or is it just "recommended" that you have a Series 3?

 

Used to be that you could trade for anyone with just a POA. But with all the new regs, and more coming, I don't know of a single US FCM that will allow you to use their MAM unless you are registered. Technically the rule of under 15 still applies, but they want you to be registered. If you're just going to trade for a couple freinds or family you'll probably be okay, but you won't get the MAM.

Not only passing the series 3, but you'll have to join NFA as well.

This only applies to USA, by the way.

JJLL:
I've read that you need to pass the Series 3 exam in order to trade currency for others, specifically here in the USA. Is there any truth to this statement? Or is it just "recommended" that you have a Series 3?
 

some countries have banned forex

Some countries like India and Nepal dont allow their residents to trade forex due to the fluctuation in their home currency

 

Are you referring to trading for yourself or others?

 
JJLL:
I've read that you need to pass the Series 3 exam in order to trade currency for others, specifically here in the USA. Is there any truth to this statement? Or is it just "recommended" that you have a Series 3?

Hello,

This rule is different from country to country. Some people are trading for others via several methods without any license.

 
JJLL:
I've read that you need to pass the Series 3 exam in order to trade currency for others, specifically here in the USA. Is there any truth to this statement? Or is it just "recommended" that you have a Series 3?

I haven't heard anything so far with regards to this issue and as far as I'm concerned there is no licenses required to trade currency in my country. maybe other countries have different rules. I am interested in how the government intends to find out if people do forex trading or not.

 

You don't need it

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