Hi all, I was hoping someone who has been trading with a business entity (LLC or partnership) for more than a year can provide some feedback. If you start a partnership or LLC with 2 traders (one trades futures, the other equity - 2 separate brokarges) ...is the entity considered "professional" or non-professional when it comes to the exchanges fees on the equity account with the broker? I'm getting mix answers from both brokers. thank you very much
If you are not registered and are not sharing the data with a whole office I'd stay non-professional as long as you can. There is an entirely different set of rules & regulations (and much higher fees) with Professional level subscriptions. I also don't know the specifics of your situation so can't really comment. PM me if you want me to send you the text from my NYSE invoices that define professional/non-professional. Cheers.