brokerage license

[cactus_trader]

Quote from Don Bright:



My suggestion is chatting with a Clearing Firm first - they can help with a lot of this. Minimum capital varies from as little as $5million (I'm told) to around $25 million with bigger firms. Again, this is somewhat subjective, I suggest you call around. I haven't had to do this in quite some time, LOL.

All the best,

Don

ETC clearing, I believe has the lowest capital requirement.

Wedbush Morgan has the dead low commissions and overall best deals around for clearing firms, but they will not allow you to mark up commissions so this will not work for the broker/dealer model prop model.

 

[MZG]

Quote from LEAPup:

So, so true! Great post!
I'll have to say, I knew several guys who retired from the retail brokerage World (wirehouse guys) back in the late 80's-mid 90's. Those guys were much more respected back then, made big money, and lived "the life" if you will. Today? Wow! What a change!

I had a 1.5M/year producer stealing my leads out of my desk when I was a rookie. Times have changed...

LEAPup

I sent you PM. I hope you give me some input. Happy New year