sorry my example for John should have shown the SubLLC take as 700. I also think that you would need to charge a desk fee to everyone in order to not appear as a 100% payout.
I don't see what all the fuss is about. I am with an LLC of Assent. There are two options it seems for traders 1. Pass your 7. Cap up, Open a prop account start at 20:1 intraday/2:1 overnight. (traders are happy with this and adjusting to the changes of having to get licensed. To work in the financial industry you have to at least have your 7 to show credibility why not get it at a prop firm) It might be harder for the firm go get traders now but Assent does sponsor for it being they are a self clearing broker/dealer. 2. Open individual account. Minimum 30K 4:1 intraday/ 2:1 overnight - This deal sucks plain and simple. Maybe I am missing something about all this nonsense with the Sub-LLC's
I have heard the the Canadian Securities Course means that you dont need a series7 to trade in the States, does anybody know if this is true?
its not just the 7, its the damn 55 and the 63 that we also must contend with. anyone know if behind closed doors,the 7 is enough at assent?
For the little guy it may be tough but workable. Most llc's(that are still open) are hanging on till they get news and then they will pull the plug. Man this business has changed. The llc was the bookie and the bookie is being shut down. Now if you hit a tough two to three months you will be gone for a small trader. Good luck guys bedtime
Yeah I've heard the 55 is much harder than the 7 but who really knows. Someone said you could trade just nyse stocks (prop) at assent with just a 7 but I don't know if thats the case? I really wish we had more options out there. Echo's software fees seem really high but at least you only need the 7. -Guru