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For those young traders aspiring to make it in private-equity, there is a lot of hope and opportunity still left out there. The following list are some of the youngest hedge fund managers in the world. What's interesting is how many of these fund managers have a trading background. I think it's...

there is also a group downtown by market and 38th or somewhere near the UPenn area where the banking sector is downtown but the name slips my mind. I will get back to you if the name strikes me again. it was a small group of prop traders, not a firm.

Def. true

You can ask Bob about the proper procedure with his firm. He is on the boards sometimes. The bright brothers are honest men and his firm is reputable and has been around very long. There are others like JC but who knows what's going to happen soon.

no props offer insurance, including US b/d's. You are trading with them at your own risk. The issue with not wanting a license is you are restricted to firms outside the U.S. where there is not much oversight

not related in terms of ownership or accounts. I meant related in terms of providing services to trader off-shore. For a long time, it seemed to be acceptable to operate under foreign exemptions. Judging by what I have seen this year, this isn't the case. There is a good article up about the SEC...

Most likely none. if you have an excellent record, there is a good chance you would want to trade your own capital or start your own firm. This would eliminate a lot of barriers that would be put in place in terms of regulations and corporate policies etc. etc.

see the other posts about ibworldwide, nonko, lake street, etc. the international firms are being pursued and shut down. The wise thing to do would be pull your money out and find a registered U.S.-based firm to trade with.

I personally prefer Fedora. My brother was a developer on the project years ago and I think it's an excellent system for business,personal or other use. Would be great to have some trading apps but the distribution isn't large enough to warrant it. Both are great Operating Systems though.

Again, the exemptions do not apply to firms collecting commissions. Anyone's best bet is to call the SEC directly and not take anyone's word on this site. Ultimately, this is the only one to get clarity on this subject that isn't clear here.

You are the one spreading misinformation. Go look up the thread on Lake Street Trading. The traders were specifically told the laws require anyone trading in these environments to be licensed. The SEC shut them down. TMGC may have semn the writing on the wall as others like IBWorldwide and...

You can try Nevis. Nonko just popped up in 2013 and is using US hosting servers which leads you to believe the address is in the U.S.. You can see the information below. They just came into business in 2013. These firms are being pursued heavily by the SEC. They simply don't want unregistered...

You are absolutely right. The SRO determines the licensing requirements. With CBSX, it is 56 or 7 can waive the 56. With FINRA firms it's a 7 usually. If they are a NYSE firm (some market makers) it is a 55. It's different from firm to firm but generally speaking, the 7 is more widely accepted...

The 56 will be cheap and quicker. The 7 has all the 56 material plus additional topics like bonds, futures, currencies, etc. Overall, the 7 is more well-rounded and gives you ability to move around in the financial industry. It is used as a blanket license for securities professionals. The 56 is...

See the post about Nonko which is structured very similarly. All these firms are being pursued heavily by the SEC. call the SEC and make sure the firm is able to hold your account and legally collect commissions. Do not listen to the shills on this forum trying to promote their own international...

]Nonko is working with Lewis Firm Trading in Las Vegas. This is already ridiculous. These firms think they can lie and misrepresent themselves as unregulated off-shore entities simply because they have a po box in some distant remote island? The people on this board have to stop being so...

Nonko is working with Lewis Firm Trading in Las Vegas. This is already ridiculous. These firms think they can lie and misrepresent themselves as unregulated off-shore entities simply because they have a po box in some distant remote island? The people on this board have to stop being so...

The clearing costs is charged to the firm as a fee from their broker. There is a difference between marking it up and it being charged to your firm. If a firm pays .003 per share and charges their traders .003 per share and don't markup any ECN or other fees, they are exempt. If they markup...

they can only be exempt if they DO NOT collect a commission (transaction-based or trader-based or similar) but rather make profits through PnL made through accounts with a registered broker-dealer with proper supervision. The oversight then falls on the B/D and not the firm. In Nonko and Lewis...

This means nothing. Regulatory services is determined by the issuing state/jurisdiction of the securities. If you have traders trading US stocks and are making a commission on trades, you must register as a broker-dealer. Even foreign companies must be a registered broker-dealer. Nonko and...