Unliscenced prop traders: pro or non pro

I am considering joining a prop firm as an unlicensed trader; However i fully intend on keeping and maintaining retails accounts for swing trading and as back up accounts.

I also intend on keeping esignal.

Now my question is. As an unlicensed prop trader would i still be considered professional in regards to exchange fees with my retail accounts and esignal.

Thanks in advance.

 

NO

 

How can you be an unlicensed proprietary trader?

 

Once you get a series 7 license, you would start paying professional prices for quotes I believe.

Since when does passing a series 7 test make a person a professional?

 

By definition that they state on the forms.

 

If you were with a prop firm, have a 7, then leave and the 7 is inactive, do u pay professional or nonprofessional fees if you trade a retail account?

 

spyderman,

You can call the NASD at 1-800-999-6647

They're very helpful. They'll tell you the exact story.

Good Trading,
gotta_trade

 

In Canada the prop shops don't require any licensing.