When do you need to take the Series 3?

Discussion in 'Index Futures' started by pistolpt, Jul 16, 2012.

  1. I wasn't clear at what point you need to have your series 3 license.

    I can trade futures in my personal account at IB, but not sure if I can do so as an advisor (not registered).

    The websites I've seen are pretty vague. Anyone have any advice?
  2. Stok


    You can manage < 15 clients and you do not hang yourself out as an advisor, you do not need to register or the 3 (also check State laws). If over 15 clients, then you need a 3 and NFA registration with DD.

    This is what IB's Friends & Family is for.
  3. Ya that's what I am running now.

    Another problem I had is that some sub-accounts aren't even large enough to hold one contract. If the margin for 1 futures contract $8,000 and you have $5,000 in one sub-account, they can't even participate. Sucks.