check out this idea

Discussion in 'Prop Firms' started by quinson, May 10, 2010.

  1. quinson


    Hi everyone,

    I'm trying to make the jump to the financial world and I have been sending out tons of resumes. I got a call back from a prop trading firm and it was really the first time I had ever heard of such a thing.

    Did a little more research and found this place. I'm learning a lot.

    Here's my idea: Can I just put up the deposit this firm was talking about and sit on it while I get sponsored for the Series 7? Is that even a good idea? Will fees and things like that just eat away at my deposit? Will they even let me just be an inactive bump on a log while getting licensed?

    Probably plenty of things I haven't thought about but just thought I'd ask.
  2. DT3


    I'm pretty sure no series 7 firm will accept your deposit before you pass the 7
  3. alot of prop firms are dropping S7 requirements these days. you might wanna look into these firms.
  4. No "parking" of licesess is allowed. Most firms will have a monthly fee that negates any advantage anyway. But, I'm curious...if you wouldn't be trading, why bother to get a Series 7 anyway?

    Don :confused:
  5. quinson


    I was thinking getting a Series 7 might give some advantages for moving into other areas of the financial world
  6. Most "other" financial institutions won't allow you have have a professional trading set up at the same time. Just FYI.

  7. quinson


    I was thinking just do the year lockup, get licensed, and then start exploring other places. Is it very hard to exit once that time runs?