Can I pay a trader to trade for me? (2024)

Can I pay a trader to trade for me?

Yes that is possible. It is called investment management. You sign a contract with a professional trader & investment manager for X amount of time and X amount of return.

Can I pay someone to do trading for me?

If you are new to the world of forex trading, we recommend working with a reputable forex trader from Guru to avert risks associated with this type of market. You can also learn from your hired expert and follow their actions as they manage your account.

How much does it cost to hire a trader?

Can I get someone to trade on my behalf?

You can't trade stock for someone else. That's illegal unless you're an investment professional. There are a lot of legal requirements to manage other people's money. Stocks and investments fall under this rule.

Can I pay someone to do stocks for me?

You can hire a broker, an investment adviser, or a financial planner to help you make investment decisions. You can also get investment advice from most financial institutions that sell investments, including brokerages, banks, mutual fund companies, and insurance companies.

Where can I hire a day trader?

How do I find a good trader?

Look for a tradesperson with relevant qualifications and accreditations, and check if they're part of national trade schemes. Schemes include TrustMark, Competent Person Scheme, Consumer Codes Approval Scheme, or schemes run by other national trade associations.

What does fidelity charge for trades?

$0.00 commission applies to online U.S. equity trades, exchange-traded funds (ETFs) and options (+ $ 0.65 per contract fee) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal).

How much money do day traders need?

First, pattern day traders must maintain minimum equity of $25,000 in their margin account on any day that the customer day trades. This required minimum equity, which can be a combination of cash and eligible securities, must be in your account prior to engaging in any day-trading activities.

Can I trade on behalf of my mother?

Yes you can open an account in your mothers name. But you cannot link your bank account to her trading/demat account. You would have to first transfer funds to your mother's bank and from there to her trading/demat.

How much does it cost to have someone invest in stocks for you?

Most full-service brokers charge 1% to 2% of the total purchase price, a flat fee, or a combination of both, for stock purchases. They offer investors financial planning and investing advice as well as making transactions for clients.

Should you pay someone to invest for you?

It will also depend on how much money you have to invest. If you have strong financial acumen, and experience investing, then you might be fine investing your own money. If you have less than $50,000 of liquid assets then you may also want to consider going at it on your own as the fees might not be worth it.

How do I legally trade stocks for someone else?

Can you buy stock for someone else? Besides gifting stock you already own, another option is to buy a new stock and then transfer ownership of it to someone else. After making the purchase with your broker, you can initiate a transfer to the recipient's account, usually accomplished with a transfer authorization form.

Is it legal to be a day trader?

While day trading is neither illegal nor is it unethical, it can be highly risky. Most individual investors do not have the wealth, the time, or the temperament to make money and to sustain the devastating losses that day trading can bring.

How much does a private day trader make?

Do banks employ day traders?

Many day traders are bank or investment firm employees working as specialists in equity investment and investment management.

Who is the top 1 trader?

Who is the best trader right now?

Rakesh Jhunjhunwala

He's become a hero in the Indian trading world because of his ability to predict market movements and invest in a diversified portfolio.

Who is the best female trader?

What is the downside to Fidelity?

thumb_down_off_alt Cons

Though Fidelity largely avoids nuisance fees such as charges for transferring an account out, its margin rates and options fees are higher than brokers that cater to active traders. Its desktop trading platform, Fidelity Active Trader Pro, could use an overhaul.

Is Charles Schwab or Fidelity better?

You can't go wrong with either. However, the more active or sophisticated investors might prefer Charles Schwab's somewhat greater range of tools and analytical data. More casual investors might have a better experience with Fidelity's streamlined user interface and intuitive approach.

How much does Charles Schwab charge per trade?

Online listed stock and ETF trades at Schwab are commission-free. Online options trades are $0.65 per contract. Service charges apply for automated phone trades ($5) and broker-assisted trades ($25) for stocks, ETFs, and Options.

Can you make $100 a day day trading?

You're really probably going to need closer to 4,000 or $5,000 in order to make that $100 a day consistently. And ultimately it's going to be a couple of trades a week where you total $500 a week, so it's going to take a little bit more work.

Why do you need $25,000 to day trade?

Why Do You Need 25k To Day Trade? The $25k requirement for day trading is a rule set by FINRA. It's designed to protect investors from the risks of day trading. By requiring a minimum equity of $25k, FINRA ensures that investors have enough capital to absorb potential losses.

Can you day trade with $100 dollars?

Yes, you can technically start trading with $100 but it depends on what you are trying to trade and the strategy you are employing. Depending on that, brokerages may ask for a minimum deposit in your account that could be higher than $100. But for all intents and purposes, yes, you can start trading with $100.