I am a private Forex trader who wants to expand into a small online hedge fund. Note: This is not code for a pyramid scheme or ponzi scheme. I am talking about trading real money.

What is the legality on this? How much money can I trade before having to register with U.S. Securities?

You can have any kind of hedge fund you want.

The key is you need certain registration, the right fund docs, the right corporate structure, and the right legal advice which can cost you $10-50,000 in total depending on your structure.

The hardest part is you will have to find qualified investors who are willing to invest with you.

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