Equities prop firm w/no need for license

Hi

Is there any legit equities prop firms in the US that don't require the traders to be licensed (series 7, 56 etc.)

Thanks

 

The prop firms that require a license are broker-dealers. A prop firm that is not a broker-dealer should not take a deposit from you or market up any costs. You trade their capital. There are a number in Chicago but since your money is not 1st loss, they are hard to get jobs at.

 

for prop firms requiring no upfront deposit, they are hard to get jobs at. but if some one is really successful in trading, why does he need to use prop firm money? here it is a paradox.

 

That is another discussion. Quick answer:

Does not have enough capital to start with and make a living.
The strategy requires an infrastructure the trader can't replicate.
The trader is not comfortable using their funds.

Just a few examples of why someone would want to join a traditional prop firm or Hedge fund vs their own money.

 

I was daytrading for a 1-2 years. However, for personal reasons i have to take most of the money out of my trading acct. which leaves me with less the the $25k PDT requirement. So, i'm searching for a prop firm so i can continue trading.
I'm also not interested in going thru the whole process of getting the series 7/56 tests.

 

Not going to happen in a legal environment in the USA. I suggest you consider Futures.

 

Why can't you take the licensing exams? They are not hard.

 

I tried about 15 years ago to learn for the Series 7 and it was pretty difficult for me.

 

The study material has gotten a lot better. It's also two smaller exams now, which should make it easier for you.