Series 7 Certification

Discussion in 'Prop Firms' started by Alley, Oct 24, 2009.

  1. Alley


    Is there any Prop firm who provides

    1. Training and metnoring for the Junior traders
    2. Who allow to trade with the firm's capital ?
    3. Who sponsors series 7

  2. Any legit, daytrade prop firms like Bright and Echo offer all that you ask; but you "usually" need to have at least $5000.00-$10,000.00 as security deposit to trade their capital once you're done with training/mentoring.

    oh, and by the way, most times, their training is NOT free. Its a few hundred to a few thousand bucks from what I hear. Plus depending on what city you live in, you might have to travel to take their training courses(think training/travel/hotel expenses). it all adds be prepared to dish out a good 2-4k approx for that.

    Good Luck...............
  3. Alley


    Thanks for the reply. What's their website??
  4. that is what it would cost to get private (series, etc.) training, so seems fair...
  5. Alley


    Is there any other firm that sponsors Series 7 certification??
  6. sub0


    The easiest way to get series 7 licensed is to find a 100% commission firm like Wadell and Reed or Raymond James. Maybe even Ameriprise. Since many of them don't guarantee a base salary, they'll sponsor you. You'll likely have to cover all your test fees though and licensing costs. Could end up running around $300 for the test, $300 for the study materials, $200-$300 for additional costs, for a total of around $800-$1,000.
  7. Maverick Trading. After a while if, you show promise you can trade firms capital ( 70/30 or 80/20 split). You have to start with your own capital and just with all others there is a fee for training( they are not a charity), they do sponsor for series 7. No, I do not trade with them, I sat in on one of their webinars.
  8. Alley


    Thanks a lot for all your help. Any more comments ?
  9. haven't done this yet, but one of the creators of passthe7 suggested to me that I should consider taking the 65... no need for sponsorship... it allows you to keep the license and bring it wherever you go, or nice to have it self employed...
    #10     Oct 25, 2009