Hi guys,I've been trading for a few years now and over the last...

Hi guys,

I've been trading for a few years now and over the last 12-18 months have made some giant strides.

So much so I know that I want to become a full time trader.

Problem is, I don't have enough capital to replace my current salary. So, I'm left with the issue how do I get to a point where I can reach my salary as quick as possible?

I'm heading down the path of trading other's money. At the moment I have agreements with two reputable brokers (One in Sydney and another in London) whereby their clients can have my trades copied in to their accounts for them. It is a bit of a loophole where the broker and client assume the majority of the risk.

I'm now thinking if it was worthwhile establishing my own trading company in Australia where I would actually manage clients money. I think their would be several benefits of this. As a company, straight away I have more credibility and am able to attract larger investors. It also gives me a vehicle to market myself via the web etc. I guess the drawbacks are the regulations and having to acquire a licence.

So, I have a few questions for anyone willing to take some time out of their day to answer them?

- If you were in this situation what would you do?
- How hard and expensive is it to set up a financial services company?

I'm starved for information on how/what to do. I've found a few examples in the US but some of it doesn't really correlate to Australia.

Any info would be greatly appreciated!!

Thanks in advance.

Cheers,

Les