I have a few questions if anyone has the time to help me out. 1) If I understand things correctly, if I trade with a US based prop firm that is a broker/dealer, I am required to get a Series 56. Is this correct? 2) If I trade with a US firm that is NOT a broker/dealer, what sort of licensing would I be required to get? Would I need to be an Investment Adviser? 3) If I am trading through an LLC with another trader or two. Are the individuals that make up the LLC required to get a series 56 or become investment advisers? Or can the LLC be licensed and that would cover whoever worked or was a partner in the LLC? Thank you for your time. .