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You lost me at "Simply borrowing the cash won't make sense - it will not return a decent enough return to cover interest and risk and there are no intra-day loans that we are aware of." If you can't make a profit with a small cash account, how exactly is this "scalable" ???

Many people live at home or have financial support from family. Others that are truly devoted will do the grunt work and get another job or work really late at night (I know of a programmer who SENDS emails at 4am). In order to be successful with anything in life you have to look for opportunity...

It seems like they have a more thorough review here: http://www.prop-trading.com/series-56-study-guide/ However, you should not rely on this. You will fail. Take the time and read the book & do the practice exams. Studying from an outline or someone else's notes makes your chances of failing...

ScalperJoe, I want to add that even SIPC insurance has 99 years to pay you back so there is always risk involved in trading markets. Just look at the soviet union. Even megapowers fall and markets collapse. Always understand the risk you're getting into when trading. As for Broad Street...

It's up to clearing with most of the CBSX firms. The larger clearing firms like Wedbush do not allow it unless you can give them a really good reason why you need it.

never heard of them. must be new to the business. check out the reviews. this board has tons or you can google "prop firm reviews" and you'll get a bunch of links

I've tried Fusion. It's decent. I'm still with sterling but that's because there hasn't been much API development for plugins as there is with Sterling. It's free but you're still going to have to pay commissions, SEC fees, FINRA fees, risk fees, etc. Nothing is really free at the end. The...

I know the group. I would stick with NYC. I think their white plains office is run independently so you won't get the same access. I've been on the downtown floor of WTS with them a while back. Very smart and honest group. Nothing but good reviews from their traders. I've never traded with them...

Totally understandable. I think if you were to call up firms and say you're looking to switch you can get it down to $2.00 which would save you a grand a month but the process could be a bitch. If you like your broker and they have good customer service, it may or may not be worth testing the...

Looks like their hosting provider's server got infected and it spread to other sites. Doesn't help that they are on godaddy. I would expect something a little more professional from them lol.

Data fees are irrelevant to commission rates and most firms just pass them on so you won't have much luck. $3/1k is quite good considering you aren't burdened with the hefty fees and licensing requirements of on-shore traders. There's less oversight of capital but if the firm has been around and...

Nice to see information and classes for the 56 being shared. I posted some information (outlines, cheat sheets, etc) in a thread earlier this week. Best of luck to everyone looking to take the test!

sounds like you should try pop. the firms are getting so competitive that some are offering fractions of a fraction of a penny for commissions and all the leverage you can eat.

I have both of these guides including cheat sheets, notes and a handful of review guides i used to study for the test. I'm willing to let them go for $75 each in excellent condition. no tears or missing pages. no notes on the pages. PM me if interested, I will include a lot of notes and...

Many firms offer real accounts where you get a federal license to trade (series 56 or series 7) with minimum capital contributions of $1500. This means it's not a training fee. it's a real trading account and training is free. If you look through the forum, you can find plenty of $1500-$5000...

it's only for CBOE traders. The rolls you can use a series 56 for are very limited (only a CBOE broker-dealer can hold a 56). Retail firms can't. For that reason, the series 7 is a lot more flexible in that respect but covers additional securities such as bonds, etc.

Getting a degree is not the same as a business license. Getting an MS gives you a chance to get a structured approach to working on your aglos. Getting a license would be added useless fees. Might have something to do with the 8 figure incomes the FINRA execs have been getting the last few...

I never understood why people deal with Penson or LEK. just go to Wedbush.

Congratulations. I mostly agree with the dude above who wrote there really is no point to taking these licensing exams. It's just a money-making scheme for regulators and the nanny state to swipe more money out of private individual's profits. Scoring a 20 or a 90 has about 0 correlation to...

Here is the outline from the CBOE too. - https://www.cboe.org/examwaiver/Series56ContentOutline.pdf