Good day,I am a part time Online Forex T...

Asked by Anonymous on 03-07-2023 13:11:57
Question posted in the General Law category relating to KwaZulu-Natal

Good day,

I am a part time Online Forex Trader using an FSCA Regulated and South African based Forex Broker. My trading account is registered using my company credentials and I am using my business bank account to transact to and from my trading account.

Am I allowed to trade on behalf and using funds from close family members and friends (specifically: Wife, Sister-in-Law, Daughter, Son-in-Law, Stepson, Stepdaughter and one close friend). I have no intention to do this as an extended business and will not provide any financial services, nor do I have any intention to trade for any other individual.

If yes, how do I handle the payouts from my business bank account to their bank accounts and how do I report these payouts?

Thank you in advance,

Sameul Barnard

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