Series 3 Info

[brownsfan019 17]

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

NFA

/

CFTC

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/

[Soultrader 12]

Excelllent post brownsfan. Very resourceful. I am also currently in the process of studying for my JSDA Examination which is the Series 3/Series 7 in Japan.