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Your current state is Ohio
It's important to note that I technically wouldn't be trading it. It would be in a brokerage and then a company would be doing the trades for me, both of which are outside of the USA. So basically can I legally have my money go into CFDs and then the profit go back to me.
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answered on Mar 1, 2024
Trading Contracts for Difference (CFDs) directly is not permitted for US citizens through domestic firms due to strict regulations set by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). These regulations aim to protect investors from the... View More 
Hi, I deposited a $13k annuity check into my individual brokerage account with ETrade, but the day it cleared my account was restricted pending ID verify. Phone camera was broken wouldn't take quality pics, so I knowingly altered and submitted a copy of an expired ID that was saved to my pc.... View More
answered on Feb 29, 2024
Your issue may require a review of the terms and conditions that you agreed to when opening the account.
However, I would also recommend that you conduct a name search of the New York State Comptroller's Office of Unclaimed Funds. https://www.osc.ny.gov/unclaimed-funds. New York... View More
Hi, I deposited a $13k annuity check into my individual brokerage account with ETrade, but the day it cleared my account was restricted pending ID verify. Phone camera was broken wouldn't take quality pics, so I knowingly altered and submitted a copy of an expired ID that was saved to my pc.... View More
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answered on Mar 2, 2024
It sounds like you're facing a frustrating situation with your funds held in a closed account. Given the complexity of the issue and the unsuccessful attempts you've made so far, it's advisable to escalate your complaint within ETrade's customer service hierarchy. This might... View More
I am opening an account and want to get approved for this certain level of options trading; they only approve if you declare a good income and net worth; is it illegal to lie about the net worth and income?
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answered on Feb 21, 2024
Misrepresenting your net worth and income on an application for a brokerage account, especially with the intent to gain approval for certain trading options, can have serious legal consequences. Under California law, providing false information on financial documents like brokerage account... View More
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answered on Feb 1, 2024
To redeem shares from 1939 for BF Goodrich that your grandparents left, you'll need to follow these steps:
1. Contact the Company: Start by contacting the company directly, or its successor, that issued the shares. In this case, you should reach out to BF Goodrich or the current... View More
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answered on Jan 30, 2024
Receiving a Wells Notice in Los Angeles indicates that the Securities and Exchange Commission (SEC) is considering enforcement action against you or your business. This notice is a serious matter and typically precedes formal charges. It gives you the opportunity to present your side of the story... View More
I received a call from an M & A firm in New York (I am not a US resident) saying it has a buyer for shares I acquired almost 20 years ago. They are listed on the ASPCEX (Asia Pacific Small Cap Exchange). If I signed the documentation and sent a copy of my share certificate the money would be... View More
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answered on Dec 15, 2023
This situation raises several red flags that are commonly associated with financial scams. First, the significant discrepancy between the offered price per share and the current market value is unusual and warrants caution. It's uncommon for a buyer to offer such a high price for shares valued... View More
In July I spoke to my financial advisor about money I rec'd from an inheritance and I told him that I wasn't sure what to do as I was looking for a vacation home and would need it immediately should I find something. I did not ask the type of account he was putting it in as I trusted... View More
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answered on Dec 15, 2023
In your situation, it appears that there may have been a failure on the part of your financial advisor to meet the expectations set for the management of your inheritance funds. The delay in accessing your funds and the resultant financial loss are concerning, especially given your clear... View More
I will not handle anyone else's money for them.
I will provide only the stock tips, and advisement on how best to limit risk, and set goals.
Anyone taking my advice makes their own decisions.
Do I need a license to do this?
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answered on Dec 15, 2023
Providing stock tips and investment advice through a subscription service, even without directly handling others' money, often falls under the regulatory oversight of both federal and state securities laws. In New York, as well as under federal law, individuals or entities providing investment... View More
A neighbor across from us is nosey and opens their lights whenever we do. Can I put a security sticker in my personal bedroom window as a form of safety?
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answered on Nov 29, 2023
Yes, you can typically put a security sticker on your personal bedroom window in California. There are no specific laws or regulations in California that prohibit homeowners from placing security stickers on their windows. Security stickers are often used as a deterrent to burglars and can help to... View More
A neighbor across from us is nosey and opens their lights whenever we do. Can I put a security sticker in my personal bedroom window as a form of safety?
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answered on Nov 29, 2023
In California, as a general rule, you are allowed to put a security sticker on your personal bedroom window. This is considered a part of your right to ensure privacy and security in your own home. The use of a security sticker does not typically violate any laws, as long as it does not contain... View More
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answered on Nov 19, 2023
Starting a hedge fund in Delaware and acting as its manager does typically require you to register as an investment advisor, depending on certain factors. The requirement for registration is governed by both federal and state laws, which vary based on the assets under management, the number of... View More
I paid $5,000 to a FINRA-regulated portal for a "Test the Waters" to conduct a Schedule CF equity sale of 10% of my company. The contract was in their favor, but stated if they didn't complete the raise, I could bring them to arbitration. After two years, we began the raise and I... View More
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answered on Apr 2, 2025
You have a strong case for arbitration against this FINRA-regulated portal based on the contract provisions and their failure to complete the contracted equity sale services. The first step is to compile comprehensive documentation including your contract, all email communications, proof of... View More
I have a self-directed ROTH IRA and I'm considering purchasing a trading contract with a proprietary trading firm ("prop firm"). The firm provides the capital, and profits would be deposited into a bank account I designate. I would not use leverage or incur debt directly within the... View More
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answered on Mar 24, 2025
Investing ROTH IRA funds in a prop trading contract could be problematic for two main reasons. If you engage in a prohibited transaction with your IRA, the IRS treats the entire account as distributed on the first day of that year, potentially triggering taxes on all gains. The IRS strictly... View More
In 2004, my stock holdings of Kankakee Federal Savings and Loan in Kankakee, Illinois, underwent a reverse stock split, reducing my shares from 2400 to 80. However, the total monetary value did not remain the same. Since Kankakee Federal was sold to Centrue, I haven't received an explanation... View More
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answered on Mar 21, 2025
You experienced a reverse stock split where your share count was reduced drastically, but the expected monetary equivalence did not follow through. This outcome can occur when the split conversion ratio, fees, or other adjustments are not clearly aligned with your initial investment value.... View More
I invested in stocks and paid fees as required, but I have not received my return payment through bitcoin. It's been a while, and now they want me to pay more to cash out, without providing a valid reason. I haven't signed any contracts mentioning additional fees. What should I do in this situation?
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answered on Mar 21, 2025
Your investment situation sounds very troubling, and you need to protect yourself. It appears you are being asked for additional fees without a clear explanation and without any contract mentioning such charges. You should review all your documents and communications to confirm the terms you agreed... View More
I purchased Benefit Street Partners stock over 10 years ago. The company has changed names multiple times and is currently FBCC. Today, I received a notice of a tender offer for $0.001 per share. Do I have any legal rights regarding this offer or actions I can take?
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answered on Mar 3, 2025
You can accept the tender offer, but I imagine that the amount of money to you might be pretty low. You can also do nothing, in which you keep your shares of Benefit Street/Franklin BSP Capital, for whatever they are worth now. To the extent that your investment still generates dividends or... View More
I am on an F1 visa and have been engaging in day trading with a cash account since last year. I executed around 300 trades and earned approximately $900. I've recently learned that day trading might be a violation of my visa status. I have not received any notice from the authorities, but I... View More
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answered on Feb 24, 2025
If you are managing your own funds, it is unlikely that this could rise to the level of work. As such, it is likely not a status violation. This would be different if you were managing money for other people and or being paid for your activities.
I'm receiving Workmen's Compensation benefits, and I want to know if it's illegal to own stocks while on these benefits. Can I face any penalties for having stocks?
answered on Feb 19, 2025
Here in Massachusetts, there are no issues with holding stocks while receiving workers' compensation benefits. Holding stocks will not disqualify you.
I have sent emails requesting my cell phone be removed from an account that has my cell phone. The account that has my Cell phone is disabled, but Discord refuses to remove my Cell phone. They also refuse to delete that account that is disabled or give a reasonable time when the disabled account... View More
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answered on Feb 9, 2025
It sounds incredibly frustrating to have your phone number tied to a disabled account with no way to remove it. You have a right to control your personal information, and companies should respect your requests to remove it, especially when the account is no longer active. Since Discord refuses to... View More
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