difference between Retail firms and prop firm

[amm]

What is difference between Retail firms and prop firm?
What means prop firm?


(prop firm. The place for proprietary traders and those who want to be. )
>>>I dont understand above sentense.

 

[amm]

I am not an american citizen, I dont live in USA and I am not an american.
I know I can open account in retail firms,
Buy can I open account in prop firms?

 

[momoneythansens]

Just a few of the many times this has been discussed before:

NewbieQ: Retail firm vs Pro Firm

Prop vs Retail

Prop and retail what is the difference

Use ET search to find more relevant threads.

Good luck.

MoMoney.

 

[Don Bright]

http://www.traders.com/Documentation/FEEDbk_docs/Archive/062001/Abstracts_new/bright/brightpro.html

The draft (more detailed) is here. It's a couple of years old, buy may help.

http://www.stocktrading.com/protradingarticle5.htm

Don

 

[amm]

Is it difficult to get Series 7 licensing?

 

[Don Bright]

Quote from amm:

Is it difficult to get Series 7 licensing?

LOL....since every retail stockbroker has passed the exam, how tough do you think it could really be, LOL.

Seriously, it is tedious, but there are several ways to cram for it.

Don

 

[TRADERBM]

If you study for 2 weeks (conservatively) , you can easily ace it.

Its not that bad at all. Its actually pretty good to get a general knowledge of things.

 

[Surdo]

What firm is going to sponsor him?
He is not a US citizen and does not live in the US?
I believe he is a High School kid in Europe.

 

[Don Bright]

Quote from Surdo:

What firm is going to sponsor him?
He is not a US citizen and does not live in the US?
I believe he is a High School kid in Europe.

We have S7 traders worldwide. Many have taken the exam here, many outside the Country. We sponsor all of our traders, of course.

(My Compliance Officer is very diligent about which countries we can, and which ones we cannot).

Don

 

[Surdo]

Thanks Don!