First and foremost, I am on your side so don't take the next sentence personal, but do take it seriously. "Fairly reputable" you realize is an oxymoron statement. (you can google the word) If you are going to prop trade you are required "by law" to have a Series 57 license, "before" you even execute your very first live trade,..period, period, period. You can easily google the official US government website(s) about this. Now I am sure you're new employer will wrap this cost (yes there is a fee, plus fingerprint, credit, and federal background check fees, plus a testing center fee) into the training cost they will want you to pay them, as you also have to have a properly registered firm, which is your (fairly reputable) prop firm sponsor you, to even be allowed to take the exam. Prop firms run the gamut from fairly good to fairly illegal. I used to prop trade equities myself with several different firms. Today, I am still a full-time trader as my sole income. Statistically, for some it works, for most it does not. Good Luck, and feel free to stay in touch. Kind regards, HG
Great response. Being in Chicago, this "fairly reputable" firm sounds like Great Point Capital/Tower Hill Trading. The 57 is required by law. If you aren't taking it then move on. That place is a chop shop for new aspiring traders as yourself.