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Questions and StoriesCategory: QuestionsIs It Legal to Manage Other People’s Forex Trading Accounts?
Nnaemeka Victor asked 2 months ago
ogahilla replied 2 months ago

To manage Forex accounts of other people is legal under some acceptance of terms and conditions by the owner of the accounts and the manager.

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20 Answers
Kenneth Ogbonnaya answered 2 months ago

Not at all. If your friend, family or acquaince trusted you to handle his or her forex trading account, I don’t think is bad.

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Leno Jean Pierre answered 2 months ago

It is not a matter of legal, rather a matter of confidency.if You trust anyone you can ask him to manage your trading account. It depends on yourself and relationships between you and your account manager.

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Jackson Mugarura answered 2 months ago

I think it’s legally acceptable since someone may want to deal in forex but may not manage to do it themselves.

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Kenneth Ogbonnaya answered 2 months ago

Is not illegal to handle other people’s accounts in forex trading.

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Edward Duffy answered 2 months ago

I would suggest that this one would depend on the terms and conditions of the broker and also the laws in the respective country.

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Kenneth Ogbonnaya answered 2 months ago

No. It is really legal to handle anyone trading account so far such person trusted you with such responsibility.

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Kenneth Ogbonnaya answered 2 months ago

Is normal to trade for anyone who wants you to trade for him or her.

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Leno Jean Pierre answered 2 months ago

It normal and depends on the relationship between you and the person Who wants you to manage his trading account.

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Leno Jean Pierre answered 2 months ago

There is no law of that. If you have confidence in the person’s you want you to manage your account, you can do it, but your are responsible for any inconvenience that might came out.

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Ahmad Khasan answered 2 months ago

Managed Account is legal and a lot of companies have offered this kind of service. Also, there many related services from forex managed account. In essence, when a person can not trade forex himself, he prefer to use other people opinion to make trading decision. Then it can take form as managed account, copy trading services, trading signal, etc.
 
It is legal, as long as the people whose account you managed authorize that.

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Kenneth Ogbonnaya answered 2 months ago

Helping a family member or friend to trade when the individual trusted you with such responsibility, I don’t think is illegal to help him to trade.

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Gareth White answered 2 months ago

I think you would have to provide some impressive stats for someone to have confidence in you to manage their FX account. Plus if they did you would need contracts in place for how you are to be paid and clauses to protect you if it goes wrong

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Kenneth Ogbonnaya answered 2 months ago

There is nothing wrong with managing other people’s trading accounts. To me if the owner of the account trusted you to the extent of giving you his trading account credentials to manage the account for him, I do not think is a crime.

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Leno Jean Pierre answered 2 months ago

You can give you trading account to anyone that you trust to manage your account. There is no law about this according to me,what matter is your relationship with that person. I have seen many people who gave their trading account details to their mentors to manage it and share the profit.
All depends on you.

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Leno Jean Pierre answered 2 months ago

If you know a good manager that can manage your account and make profit for you, give him your account details if you trust in him. Many people have been doing it and earn more without knowing anything in trading.

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Kenneth Ogbonnaya answered 2 months ago

Is not illegal to handle other people’s forex accounts if such person worth your trust. If a friend or family member trusted you with his forex trading account, I don’t think is crime or illegal .

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Kenneth Ogbonnaya answered 1 month ago

Yes it is legal, but it has to be on someone you trust very well, who can be honest to manage your account for you, since the person don’t have access to your money

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Leno Jean Pierre answered 1 month ago

Nothing wrong all, just he has to be a person You know and want you to succeed,a person who is willing to get you out of poverty.

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Eli Davis Keinamura answered 1 month ago

As long as you trust your manager , managing your account,it’s okay.The challenge is if your account has greatly reduced and it comes to zero,will you accept his words.

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Leno Jean Pierre answered 1 month ago

Yes Mr Eli,you spot on, as well as you thrust the person, you can give him your account details to manage it,but You should also accept all consequences that might happen to your account.

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