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 Thanks Alley
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 up..so be prepared to dish out a good 2-4k approx for that. Good Luck...............
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.
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.
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...