Bright is good. you only need to deposit 80 million dollars and you can engage in "pairs trading". you also get 2 donuts and a hot cup of coffee if you trade at an office. just kiddin don. (about the donuts)lol
My understanding is that the desk fee is pro-rated for a partial or full elimination of the desk fee based on the monthly volume you do.
I guess we need to find a firm thats a member of the CBOE where we don't need the series 7 (see other thread). Hopefully someone will come up with a list for us... -Guru
I am currently with Assent and they now requires the 7 and 55. Back then when I was echo, only 7 is required. If someone is looking for a good prop firm with good platform, I would recommend Assent since their platform seems more stable (I used to have all kinds of problem with echo's platform). Don't know too many llc company out there that does not require 7 since the bust on Tuco.
Yeah I know they will prorate that fee but I want to start very small while I learn. Maybe I will be better off just saving another 10k and putting 30k in a retail account.
From what I understand you need the series 7 if you are trading daily with less than 25k. Something about a combination account. Did not understand. I have heard about WTS World Trade Securities. Don't Know if they are affiliated with the World Trade Center. Good Question!!! Have heard about Pac Pacific Coast Trading their prop 7 I don't think you need the 55 on them not shure. I am currently studying 7 A couple more. Any info on personal experiences would be aprechiated
I think 55 is primarily for NYSE member firms (not 100% sure). And Missouri. Seven is required for all traders (by us and most major firms), and some states require a Series 63. The following states require additional examinations: Series 63 in Massachusetts, Michigan, Missouri, Nebraska, Nevada, Texas and Virginia; $82 fee. Series 55 in Missouri; $80 fee. State Registration fee â This only applies to traders in the following States: Colorado - $8 Massachusetts - $75 Maryland - $35 Michigan - $65 Missouri - $50 Nebraska - $40 Nevada - $110 New Jersey - $30 Tennessee - $50 Texas - $235 Utah - $50 Virginia - $30 Don