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Let me walk you through the basics step by step. Do you know how much an exchange membership is per year?

Fees are required to be a member per trader, every year. AND to get the preferred leverage minimum equity is required, which is more than 25k.

My mistake then. I thought you said once you get the 7, you get extended leverage, which is not true.

He is correct regarding the series 7 but incorrect about the leverage.

Just because you have a 7, doesn't make you an exchange member. LOL...There are requirement and it isn't cheap. If I am not mistaken, it is something like 5 million cash...I will look it up. Now lets talk about a portfolio margin account, this has a rules different than a regular margin...

Assent alone has more than 1500 traders itself. That isn't including Hold, RBC or some others out there.

You aren't going to be able to get nice leverage even with a 7. The SEC explained that the PDT rule applies even if have a 7, so a BD cannot extend leverage to traders above and beyond the 4 to 1. Once a deposit is taken, it is looked at as a retail account. To be honest, I hope I am wrong...

Please tell which school you went to... How much margin do you get?

No totally operate as business as normal, doesn't it say below that, in no event a trader can withdrawl more than 50% of the net capital? Is that what you call business as normal? As far as facts, there are many problems with this suit. Whether you are licenesed or not and you are acting...

This is a joke. How many investors do you have? What is your AUM? What Ivy league school did you attend? Did you buy your degree? What type of fund are you?

You might want to read up, they did freeze the assets of Tuco and everything must go through a receiver.

Green today, huh? How is that turning out for you?

That is correct. What the BD can do, as does GS, MER and so on. Is let the trader trade firm capital, NO DEPOSIT and split the profits.

Well the problem is they are acting a broker dealer and in order to do so, they need to register as one.

Well there is cash changing hands. This is what happens. We will use a regular llc. They open a retail account and get 4 to 1 leverage. (I know don gets more but that will only confuse people). Say I open an account with 250k, so I have 1 million in BP. Now I can bring 10 traders on with 5k...

I HAD much more than that up with Assent. BUt I have decided to close my account and stick with futures. The SEC is going to be making an example out of a few people.

You are correct. If you have a deposit up, that deposit will be looked at as a retail account no leverage can be extended beyond 4 to 1. This rule is set by the Federal Reserve and they must comply.

This Article says it all and is so true. http://www.cnn.com/2008/US/03/14/beckfloridamichigan/index.html

Do you ever stop? If I recall correctly, you are still holding your positions from a while ago and if you still have them and are trading on margin, you have no money left. So please just stop running your mouth. You know if you just admit to yourself that you are lying to yourself...