Do you need a license to be a day trader?

Question:

Do you need a license to be a day trader?

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Answer:

A day trader job is risky, and sometimes a license is required to do this job well. A few states in the USA do not require a license for a day trader, but most states do. Also, many people get credentials or certificates to become more trustworthy. There are two types of day traders one can find now. They are professional day traders and individual day traders. Professional day traders work for other financial institutions, but an individual day trader works alone, and they must possess great knowledge about the financial market. Both traders require a few security licenses sometimes so that the people can trust them. There are many associations available in the USA where they provide these licenses. The General Securities Registered Representative is where one can get a security license. A person needs to pass an exam called the Series 7 exam to qualify for the license. The trading job is all about taking risks and working hard for hours. One must have a vast knowledge about the risks; otherwise, they will lose a lot of money.

For more information about Day Traders, check out this article:Info on Becoming a Day Trading Broker

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