Well, on the face of it, it seems like it. In the United States of America, there is nothing that makes Swing trading illegal. If you are in a Swing trading account, you are free to do as you wish, including selling. However, if in your swing trading account you are trading and doing no work or not doing any work at all, then any and all work you do as a Swing Trader on the trading platforms would have to be legal (unless you are also doing a lot of work in the account or a lot more than nothing).
But here’s what is illegal in most states:
– Stock-based trading. Trading shares in an account is illegal if the account is opened for the purpose of trade execution, or is used to make a profit for your own account’s trading account.
– Non-proprietary trading. Trading in non-proprietary securities is also classified as illegal.
– Commodities trading. This is the type of trading that a Swing Trader does. Commodities trading and Swing trading are prohibited unless the Swing Trader meets one or more of four exceptions:
– The Commodity Futures Trading Commission prohibits trading of commodity futures and swaps that involve “exchanges, agents, brokers, dealers, clearing agencies, dealers, wholesalers of commodity futures and swaps, or any other person or entity.”
– The Commodity Futures Trading Commission only allows a Swing Trader to engage in commodity futures and swap-based futures trading in a “consolidated volume activity” if the Commission has determined in good faith that there are sufficient volume and liquidity in such activity to allow all of the other activities in which the trades are made to meet the Commission’s standards.
– The CFTC allows only one Swing Trader on the trading platform at a time.
– No swap dealer or futures contract dealer is allowed to provide a brokerage account within the United States.
Basically everything that the Securities and Exchange Commission (SEC) prohibits you from doing is also what Swing Trading is prohibited from doing.
It is always a good idea to talk to an attorney if you are uncertain about whether you qualify as a Swing Trader because you will almost certainly get different answers than what you get from the SEC. The SEC doesn’t do the same sort of hard research that attorneys do. So it is always best to seek the counsel of a financial professional who understands the law as it is written.
The World Health Organization warned Monday
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