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?
True, but at the same time, you can use the DDE links from the Clearing Firm to make your own charts, spreadsheets, etc. Eliminate double payments for data in some cases. Don
I'd be willing to wager that a retail broker, who has every trade, your ATM card, credit card, IRA, 401K, Last will and Testament (or at least your beneficiaries), probably knows a heck of a lot more than this "big brother" cares to know about his traders, LOL. Bear in mind that I am not a fan of too much gov't intervention in our lives either, just a necessary evil much like a drivers license, IMO. Don edit: This was just a fun response to Scorpion's post, but I guess he deleted it while I wasn't looking, LOL.
hey don, having fun.. lol. i new you would have a response. pay prof fees in most cases.. in being licensed you have rules to comply with, full disclosure on all investment related activities, your under scrutiny in general, being licensed is not intended for daytraders, too many hassles. required by some to join their firms because of their requirement with the exchange, you give up some freedom as a independent trader with being licensed . its a heavily regulated industry & your just joining the mayhem for no good reason, most would avoid it if they could. two each his own.. imo.
I agree with the "to each his own" - and for those who want to just daytrade small with a broker, great, not a problem with me at all. I just had to debate the thought of some big brother type of an affair with getting a S7 license. As I said, a necessary thing for getting use of capital, tax benefits, etc. There are always offsets, a yin for each yang I guess. Geez the market is slow today, I may have to get into the "Religion and Politics" threads....NOT]/b] LOL. Don
Who says? We can trade the same day they come out, and some traders (who spend a lot of money with retail brokers) can actually participate in the opening print. Don
don, if your firm did not require a trader to be licensed, you would probably be the first to say, don't bother, but unfortunately your biased.. i know people who are licensed & have to jump thru hoops at times, even opening a personal account being a employee of a firm, you must get permission to, i am sharing from a viewpoint of full disclosure & whats involved with being licensed, real case scenarios, people can believe what they want, all must follow the rules thats all. be aware of what is expected of you & if thats ok with you , go for it.. i rather have multiple accounts & not answer to no one, do as i please, no limitations.