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brownsfan019

Series 3 Info

By brownsfan019, in E-mini Futures

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brownsfan019    17

brownsfan019
Posted

Cooter posted a great youtube video in the Series 7 thread, so I thought it would be good to have a thread on the Series 3 since it pertains to futures trading. Hopefully we can make this thread a comprehensive resource on the Series 3.

 

Q: First, why even consider getting your Series 3?

A: As a trader, you may be interested in the 3 for a couple reasons:

1) If you plan to trade OPM (Other People's Money) you may have to register with the
/
by LAW. It's important you understand the rules and requirements when trading OPM, even if it's just family and friends!

 

2) You want to broaden your knowledge on the futures biz as a whole.

 

Q: How do I know if I should register?

A: I suggest always directing questions to the NFA as their support people are very helpful and friendly. Here's a good link on the NFA site about who needs to register: http://www.nfa.futures.org/registration/who_has_to_register.asp

 

For sake of discussion, it's safe to assume that if you plan to become a CTA, CPO, etc. that you will need your Series 3.

 

Q: Do I need to be sponsored to take the Series 3?

A: NO! As of July 2007, you can take the Series 3 without being sponsored by a member firm. This is VERY different than other tests administered by the NASD.

 

Q: How do I study for the Series 3?

A: There's a handful of companies out there that sell Series 3 study material. I used Securities Training Corporation http://www.stcusa.com/

 

Q: Once I know I need to get my 3, how do I sign up?

A: Trying to do this on your own is a pain the butt b/c the NFA does the test through the NASD. It can get very confusing; however Cooter found a great YouTube Video that walks you through this!!! I suggest just watching this!

 

Helpful links:

NATIONAL FUTURES ASSOCIATION (NFA): http://www.nfa.futures.org/index.asp

COMMODITY FUTURES TRADING COMMISSION (CFTC): http://www.cftc.gov/

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