futures prop

ZENDINA,

Do you have the Series 3 license? If not I don't believe any reputable firm will let you trade their capital. That is without some sort of contribution of your own.

Regards,
Tanp21
 
Great Question,

I have my series 7, 31 (managed futures), and 63 licenses but do not have the series 3. I did not know that I would need the 3, but I bet it wouldn't be hard to get.

Thanks for your post and input. It is much appreciated!

Dina
 
ZENDINA,

The Series 3 is not hard to get. You don't need a firms sponsorship in order to take the exam however you will need to register with the NASD ($75). The test is not as hard or long as the Series 7, about 2.5 hours, however the test has 2 sections and you must pass both. It is not a cumulative test in that regard. I am in the process now of getting ready to take the exam so I thought I would give you the info to get you started. PM me if you would like more detail.

Regards,
Tanp21
 
At Refco Trading Services, you DO NOT need a series 3. The manager needs a series 3 if hes dealing with own account customers. No contribution is necessary,but clearly you have to be highly motivated. A thorough interview process is involved,and you will be taught the technicals necessary to succeed. There is ongoing discussion with each trader to keep him/her on track. pm me with any other questions.
 
Everyone's knowledge and help is awesome! I live near Sacramento, CA. Does anyone know of any good futures prop firms that have a remote program?

Thanks!
Dina
:)
 
Why do you need "prop"...just trade a retail account remote through a prop business for futures. That is what I will start doing after the first of the year...I want the tech support and the more direct relationship with a clearing firm.

Chris
 
Hi Chris,

I've been grappling with the same question and I posted my questions earlier on this thread.

If there is a futures prop firm that will let me trade their money without any capital contribution from me, that would be helpful to me now, since my own account is small. I would love to trade larger amounts and share my profits as needed.

:)
Dina
 
I have been using REFCO'S PRO-TRADER PLATFORM for a few months now and it is very stable and pretty quick.

They also give you access to a ton of research on any commodity or financial futures market in the world.

:)
 
I never came across a firm that let you trade stickly there money (prop) but allowed you to trade remote unless you developed a relationship with them first by trading in their office. All the firms I know of require you to move to Chicago. I looked for the same thing awhile back from CA too, but came to the conclusion I would have to move for the right opportunity.
 
Quote from mr.nononsense:

Refco Trading Services has prop trading in chicago. They are opening a 120 seat arcade in january. They have a great training program geared to both newbies and guys coming off the floors and want to trade upstairs. When you become proficient, you can trade in any of their other offices throughout the world. Also more offices in US are in the works. check out www.refco.com,and look for the discussion on Refco Trading Services.
More...

There have been mentions of alot of "prop firms" in Chicago. This may be a loaded question, but in general, is there a minimum education, experience level to be "hired"?
 
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