I didn't think the 55 was all that hard. To your orginal question, you can have the 7 and only trade listed securities with Assent.
Thats good to hear... How is trading prop with assent? Anyone doing so now? Decent leverage, etc? -Guru
I previously traded remotely at Assent and had a series 55 exam, I took mine for another prop firm... Worldco. It was a test that I had to study a few weeks for, and it was fairly difficult for me. This is probably because I usually do not study extensively and tend to rely on the process of elimination on multiple choice exams...such as the series 7. This does not work on the series 55 exam. A buddy of mine who was also at Worldco, still trades remotely thru Assent...he came over from Generic a PHLX registered firm and loss his series 55 registration. Assent resticts him to listed stock trading and he constantly complains about it...since he claims that a lot better fills often occur for listed stocks on the Nasdaq...or some ECN. Assent has let him know that he should get the series 55 registration, but he only trades part-time and has not had the time to study for the exam. The leverage at Assent was great, some of the best that I had heard of, but they also lock-up your money for one year and if you trade remotely your home actually becomes like an extension of one of their offices. This is not an issue... just gives them permission to inspect your records if they want to.
\ It is in the agreement that they can lock up your money up to one year. I didn't have a problem getting my money. They are a great company and very respectable firm.
Managers need 24. Unless Assent has an internal policy I'm unaware of. FWIW, we only require a 55 for Missouri residents at this point in time. Don