Do I Need A Series 56 to Open An Account?

No not necessarily it depends what kind of brokerage account you would like to use.  United States citizens are required to pass either their Series 56 or Series 7 exam prior to trading in a proprietary brokerage account.  Citizens of other countries are not subject to this rule at this time.   Traders in retail accounts are not required to have any particular licensing.

Daniel Major

B.S. Degree in Economics and Finance. Professional day trader. Live and work in Manhattan, NY, NY.

Page Updated: September 8, 2013

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