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Frank_RR

Registered: Nov 2011
Posts: 1

11-21-11 01:34 AM

I thought I would consult you guys before calling in case there was some info I may need. I started with Broad St trading 4 months ago before word of this 56 test and I really liked them but I have no reason to take 56 and do not want to be labeled a professional. I still have my original 5k deposit on lock up for another 8 months and was wondering if there was anyway around that. If not that's ok, I signed the paperwork after all but it would be nice because I don't know if they will even be in business in 8 months

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EvOTrAdEr

Registered: Sep 2010
Posts: 249

11-21-11 04:50 PM

the lockup has been in place for a really long time, way before the series 56. it's sec rule 15c3-1. if you want to look it up, there's quite a few thread on the lockup issue.

did broad st tell you there's no lockup?

They've been around a long time. I was a customer of theirs in the past. they run a very solid firm. they're not going anywhere.

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ScalperJoe

Registered: Mar 2010
Posts: 608

11-21-11 08:39 PM

Quote from Frank_RR:

I started with Broad St trading 4 months ago before word of this 56 test and I really liked them but I have no reason to take 56 and do not want to be labeled a professional.

Being "labeled a professional" just means you're a member of an exchange and thus paying higher fees for data.

The registered firms that don't have the 1 year "lock up" require the Series 7, so either way a license is now required if you're based in the U.S.

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hitnrun

Registered: Sep 2011
Posts: 514

11-21-11 10:56 PM

you could consider broad st international

a overseas based entity

no license required . make a few calls & you will get the facts

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