ZENDINA, Do you have the Series 3 license? If not I don't believe any reputable firm will let you trade their capital. That is without some sort of contribution of your own. Regards, Tanp21
Great Question, I have my series 7, 31 (managed futures), and 63 licenses but do not have the series 3. I did not know that I would need the 3, but I bet it wouldn't be hard to get. Thanks for your post and input. It is much appreciated! Dina
ZENDINA, The Series 3 is not hard to get. You don't need a firms sponsorship in order to take the exam however you will need to register with the NASD ($75). The test is not as hard or long as the Series 7, about 2.5 hours, however the test has 2 sections and you must pass both. It is not a cumulative test in that regard. I am in the process now of getting ready to take the exam so I thought I would give you the info to get you started. PM me if you would like more detail. Regards, Tanp21
At Refco Trading Services, you DO NOT need a series 3. The manager needs a series 3 if hes dealing with own account customers. No contribution is necessary,but clearly you have to be highly motivated. A thorough interview process is involved,and you will be taught the technicals necessary to succeed. There is ongoing discussion with each trader to keep him/her on track. pm me with any other questions.
Everyone's knowledge and help is awesome! I live near Sacramento, CA. Does anyone know of any good futures prop firms that have a remote program? Thanks! Dina
Why do you need "prop"...just trade a retail account remote through a prop business for futures. That is what I will start doing after the first of the year...I want the tech support and the more direct relationship with a clearing firm. Chris
Hi Chris, I've been grappling with the same question and I posted my questions earlier on this thread. If there is a futures prop firm that will let me trade their money without any capital contribution from me, that would be helpful to me now, since my own account is small. I would love to trade larger amounts and share my profits as needed. Dina
I have been using REFCO'S PRO-TRADER PLATFORM for a few months now and it is very stable and pretty quick. They also give you access to a ton of research on any commodity or financial futures market in the world.
I never came across a firm that let you trade stickly there money (prop) but allowed you to trade remote unless you developed a relationship with them first by trading in their office. All the firms I know of require you to move to Chicago. I looked for the same thing awhile back from CA too, but came to the conclusion I would have to move for the right opportunity.
There have been mentions of alot of "prop firms" in Chicago. This may be a loaded question, but in general, is there a minimum education, experience level to be "hired"?