Quote from peilthetraveler:
The series 7 is very hard. Requires about 100 hours of study no matter what these other liars may say. And dont believe the guy that says you can get 10:1 intraday with 5k without a series 7, because margin requirements say you cant do that. If you are getting 10:1 its probably trading futures and not equities.
Once again, people do not know what they are talking about.
You can get more than 1:10 without the licensing at min 2 firms in NYC. The groups under those firms have capital up to get the BP, it worked the same way in the licensed groups.
The days of Series 7 & Series 55 equaling anything special are over. Being NASD licensed is just extra hassles from regulation and wastes of time with the testing.