Series 7: Two questions

Discussion in 'Professional Trading' started by mytime, Apr 8, 2011.

  1. mytime


    I got series 7 from STC version 2005, and hold look at it the other day, sould't take me much time to finish reading it.

    I got spare time and time being take test for self-achivement, But i have o intento of trading at least for 2-3 years, as i work.

    Two question?

    1- What are downsides of gettig series 7 licensed? Ex. you pay more for exchange fees as a pro......what else i should be awere of?

    2-What things i need to know if i stay inactive for few years, like
    taking exam again, payig anual fees, registerig myself with brokerage

    any advice will be apperciated
  2. austin111


    In order to sit for the exam, you need to be sponsored by a FINRA Broker Dealer.
    If you leave (or terminate) from a B/D you have 2 years from the time your U4 is inactivated to get back with a B/D.
    Yes you will pay professional Data Service rates on EVERY platform you trade on.
  3. mytime


    1-What if i stay with the broker or don't terminate, but don't trade for two years?

    2-what benifit brokers recieve from me being affiliated with their firm, if i don't trade?

    3-what happens if my U4 inactive for more than two years? sit for new exam...?

    4- In order not to pay professional fees for exchanges and plateforms, can i cancel my series 7 pro status?

    5- can i easly shift from my existing broker who spomered me for series 7 to another broker?

    Thanks again
  4. cstfx