prop firm in philly saying you need the 55 and 62 to trade prop but not the series 7? i may have the 62 wrong but definitely the 55. anyone shed some light on this? what is the 55 and 62 exams like?
You absolutely need the series 7 for a PHLX firm, you don't need the 55 at any firm any longer, but you may also need the series 63, it is for the state. This link will explain all the exams http://www.stcusa.com/Content/Securities/SecuritiesLicensing.aspx
I am not sure what 55 and 62 exams are, but if you insist on an answer, I would say 55 exam is 8 times more difficult than Series 7 (because 7x8=56), 62 exam would be 9 times more difficult (7x9=63).
The Series 62 Exam is required for persons acting as a limited registered represntative in corporate equity and debt securities. Our Series 62 course covers all of the topics that are needed to pass the Series 62 exam. still a pain in the ass... might as well take the 7. if you change firms.... the 62 may not work at your new firm.
As I recall, and I'll double check, I think the 55 is required for member firms of the NYSE vs. a Regional exchange (Chicago for us). Don