MT5 Trade Copier Feature
Why would a copier become manager of other's money ?
IMHO, copy trade does not relate to managing other's money. Each copier can decide her/his own risk or target, s/he simply trying to imitate someone's trades.
But... I'm not a lawyer, thus please don't take it seriously.
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If one were to use the trade copier feature and enable another trader to have my trade executions automatically happen in their account, would I NOT be violating SEC rules and regs if not licensed to manage another person's trades? What is it about the trade copier that exempts one from being licensed if you are in effect managing another person's money?