Subscriber Account Status
When an investor logs into his or her brokerage account, a series of questions are presented. Answers to these questions help determine if the investor is a Professional or Non-Professional Subscriber, as defined by the exchanges.
Professional Subscribers
An investor who opens a specialty brokerage account is automatically considered a Professional Subscriber. These specialty accounts include:
- sole proprietorship,
- partnership,
- corporate,
- limited liability company,
- exempt or non-exempt charitable organization,
- pension/profit sharing plans, and
- SIMPLE IRA plans
There are instances where an investor who opens a trust, investment club, or estate account is automatically considered a Professional Subscriber; however, the system generating the subscriber status questionnaire will determine if this is the case. Generally, a holder of one of these account types is considered a Professional Subscriber when more than one authorized trader is active on the account.
An investor may also be considered a Professional Subscriber depending on his or her occupation. These occupations can include an employee of a broker-dealer, an employee of a bank, an employee of an investment advisor, an investor registered with the SEC, FINRA or CFTC or an investor registered or associated with a state securities agency, securities exchange or association, or any commodities or futures contract market or association.
Confirm Your Professional Subscriber Status
To confirm your registration status, please visit www.finra.org > FINRA Broker Check.
Professional Subscriber Advantages & Disadvantages
Stock exchange rules dictate that Professional Subscribers are unable to obtain free, real-time streaming quotes. Professional Subscribers are eligible to purchase real-time streaming quotes. The costs for this service vary per firm. Your local Scottrade team can review pricing options with you.
A Professional Subscriber who does not purchase real-time streaming quotes will receive quotes on a 20-minute delay. Static, real-time quotes are provided to a Professional Subscriber at the point of order entry and when building option chains.
Non-Professional Subscriber Advantage
A Non-Professional Subscriber receives free, real-time streaming quotes on the various trading platforms the investor subscribes to.
Get Real Time Streaming Quotes
If you are a Professional Subscriber and would like to purchase real-time streaming quotes, please contact your local Scottrade team.
