An LLC is a flow-through entity, this means any income received by the LLC flows directly through to the LLC owner/members. The income is then taxed at the individual income tax level. There is no income taxation at the LLC level.
Basically, forming an LLC does not provide you with any real tax advantages. Generally, people form LLC's for liability protection. It does, however, require you to file additional tax returns if you are a multi-member LLC. If you are a single-member LLC you are treated as a disregarded entity meaning your federal filing will be no different than it currently is.
Depending on your state you may or may not have additional filing requirements as a single-member LLC.
As far as restrictions on trading/investing laws within an LLC, you should contact a local business attorney that specializes in investments.
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