changing from professional status

Discussion in 'Retail Brokers' started by Sanjuro, Feb 25, 2004.

  1. Sanjuro


    when you join a prop firm, you need to pass the series 7
    which makes you considered a professional trader.
    the quote fees like take a huge jump compared to nonprofessional.

    suppose you end up leaving the prop firm, do you become
    nonprofessional after your series 7 expires or do you always
    remain professional?

    is there any way to change back to nonprofessional after?
  2. My understanding is that as soon as your firm "U-5's" you (terminates you)...that you are off the hook as a professional. You can't be treated as a pro if you're not aligned with a firm.

  3. Toonces