Series 7 or no Series 7? Whats the difference between these prop firms in terms of advantages to the trader?
Thanks,
Trader0123456
Thanks,
Trader0123456
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Series 7 or no Series 7?
- Thread starter Trader0123456
- Start date
Anyone for this question? Is there any advantage to obtaining a Series 7 license?
I understand that a Series 7 is for firms with memberships on certain exchanges, but is there an advantage for a prop firm to have a membership on such an exchange, for example, better fills, or is there no advantage?
for the firm yes
for you no
for you no
Quote from Trader0123456:
I understand that a Series 7 is for firms with memberships on certain exchanges, but is there an advantage for a prop firm to have a membership on such an exchange, for example, better fills, or is there no advantage?
s7 are required by the prop firm if it is under a certain exchange. PHLX firms require it
cboe/cbsx firms do not require it
no real advantage such as fills, leverage etc. simple as "who is the prop firm's SRO"
Thanks for the consensus. I was curious whether a prop trader becomes registered at the FINRA Broker Check once the U-4 is submitted from a CBSX-registered firm (as the fingerprint card is for FINRA). I know that Assent requires its traders to have the Series 7, for example, but a lot of the other shops seem unable to sponsor.