What is the down side of having Series 7 license?

Discussion in 'Professional Trading' started by jimclark, Sep 24, 2007.

  1. One interesting question:

    What is the down side of having Series 7 license? I understand certain fees/higher will apply...but what else other than that?

  2. funny...but really what are some of the negatives of having a Series 7? Especially if you trade part-time...
  3. pdwst33


    I can't see how there would be a "negative." Other than having to study for a test and take the continuing ed every few years to renew it, what could be negative about it?
  4. It is just a license so what negatvies could there really be except for having to take that test and learn obscure rules about municipal securities... :D
  5. pdwst33


    Speaking of the Series 7...I've had mine for 7+ years as I'm currently at a member firm. But I do plan on leaving soon and trading for myself. I'm unaware of a way to keep my license going forward. I don't "need" it apparently to trade on my own (I think this depends on which prop firm you decide to go with), but since there are no negatives in having the license, I sure would like to keep it if possible. If anyone knows how to do this...please let me in on it.
  6. You need to belong to a Firm, take your Continuing Ed under their sponsorship, etc. to keep it active. Not any other way that I can think of.

  7. What about higher fees due to being licensed?
  8. Surdo


    When you run ahead of an order or "use information" that you shouldn't, they have a copy of your fingerprints.

    If you do not need to be licensed, you are better off without it.

    Ask a stupid question, get a stupid response!

    el surdo
    #10     Sep 24, 2007