Legalities of running a Signal Service in Australia

[cencored]

Hi guys,
I'm new here but I would consider myself a seasoned trader.
I have become good enough to consider establishing my own signal service to investors.
My plan is to connect my trading platform with the ones of my investors and copy trades over into their accounts.

What I am wondering is what are the legalities of running a signal service in Australia? Do I need an AFSL? Can I just run a disclaimer on my website?
I do not want to be sued obviously in the unlikely event of a crash

Can anyone shed some light on this please?
Thank you in advance.

 

[tech/a]

You'll need a licence.
And a disclaimer.
A thick skin.
and a good solicitor.

Other than that your good to go.

 

[Trembling Hand]

https://trade.collective2.com/

 

[cencored]

Lol Tech/a. You made me laugh.
You serious though?
I'd prefer to run my own trade signal service as the 3rd parties take a good chunk of the profits. Of course on the other hand, there is no risk for me as they take that on...

 

[skc]

Once upon a time (~8 years ago) I used a signal service which some guy came up with. The arrangement was to use a specific retail broker who placed the orders using Interactive Broker. All subscribers had to sign up for Interactive Broker and sign some form which basically allow the retail broker to control their account. It was certainly cluncky but it worked despite plenty of teething problems. Too bad the strategy didn't produce much return and probably didn't attract enough capital... it kind of just whittled and died after about 7 months. It's not something I'd sign up to again personally, but it doesn't mean yours won't be successful.

I can give you the contact details of the guy who provided the signal service if you are keen.

 

[tech/a]

Once upon a time (~8 years ago) I used a signal service which some guy came up with. The arrangement was to use a specific retail broker who placed the orders using Interactive Broker. All subscribers had to sign up for Interactive Broker and sign some form which basically allow the retail broker to control their account. It was certainly cluncky but it worked despite plenty of teething problems. Too bad the strategy didn't produce much return and probably didn't attract enough capital... it kind of just whittled and died after about 7 months. It's not something I'd sign up to again personally, but it doesn't mean yours won't be successful.

I can give you the contact details of the guy who provided the signal service if you are keen.

Think I know the guy

 

[cencored]

That sounds like a PAMM account if it's with a broker. I was thinking of doing my own thing and then attract more and more investors gradually. However I need to be sure that I've got all the legalities covered first.