The Series 57 exam – The Securities Trader Qualification Examination (TD) – assesses the competency of an entry-level Securities Trader to perform their job. The exam measures the degree to which each candidate possesses the knowledge, skills and abilities needed to perform the critical functions of a Securities Trader. See more at: http://www.finra.org/industry/series57#sthash.XlWjrJZy.dpuf
Yes. You must be a legal U.S. Resident with a Social Security Number or ITIN.
Yes. You can download the Fusion, Lightspeed or Sterling trading platform on your home, office, or laptop computer and trade from anywhere. Integra Capital specializes in servicing remote traders all over the country
Yes. You can trade at T3’s headquarters in the financial district of Manhattan, NY. Our state-of-the-art trading floor is preconfigured with trading desks for 70 traders. There may also be availability to trade from one of our branch locations around the country.
Fusion, Lightspeed and Sterling. Your choice. You can trade both stocks and options with Fusion or Lightspeed. Sterling offers stock trading, but not options.
No. Funds in a proprietary trading account are never SIPC insured. If a proprietary broker dealer goes out of business, a traders funds are at risk of being lost. Therefore, financial strength and integrity are important elements to consider when choosing a prop firm.
As of 2017, the Integra Capital division of T3 Trading Group has under 50 traders, with hundreds of U.S. traders in total at T3. This provides you with the dual benefit of a boutique firm for personalized customer service, and the financial strength and resources of one of the largest proprietary trading firms in the country.
An existing Series 57, 56, or 7+55 license, or we will sponsor you for the Series 57.
Yes. We will sponsor you to get the Series 57 License.
Yes. All capital deposited to your trading account needs to remain in your account for 12 months from the date of deposit. All profits above your deposit amounts can be withdrawn at any time.
$5,000 to trade stocks and ETF’s intraday (9:30 am – 4 pm). $15,000 to hold positions after hrs / overnight. $25,000 to trade options.
This is a non salaried position. Most traders receive 95% of their net trading profits.
You email a simple profit withdrawal request to your manager by the second Thursday of each month. T3 will send you a check or wire on the following Tuesday. If you want to make an “out of cycle” withdrawal you can, but there is a $100 charge to do so.
Intraday Leverage for stocks & ETF’s = 30 to 1. For example a 5k deposit = $150,000 buying power. Overnight Leverage = 6 to 1 with a max of 2 to 1 per position. For example a 15k deposit = $90,000 total and $30,000 per position. Depending on a traders experience and buying power needs, we may be able to provide even more leverage.
Yes. Traders with account equity of at least $15,000 are allowed to hold after hours / overnight positions in accordance with agreed upon risk parameters.
There are no interest charges for borrowing our funds intraday. Overnight leverage rates for long positions = The Fed Funds Rate + 3.75%, and for short positions = The Fed Funds Rate + 0.75%. (Divided by 365 days for one day).
The Series 57 Exam is $120.
Everyone is different; however, it is common for traders to pass the Series 57 exam after studying for about 60 hours.
The exam has 125 questions and you have 225 min to complete it.
At a testing center such as Prometrics, with locations all over the U.S. https://www.prometric.com/en-us/for-test-takers/pages/locate-a-test-center.aspx
You need to wait 30 days between attempts with a maximum of three attempts. Each time you take the exam it costs the same $120.