If you manage some of your funds through a corporate entity that you own 100% yourself that does not offer any services to others and you do not take out any salary, you of course pay professional data fees for the corporate entity, but do you also have to pay professional data fees for your personal account as well assuming no other reasons to qualify for professional fees?
Equities, yes. Futures, depends. Equity markets only provide non-pro data to a "Natural person" trading their own money and not registered in the industry. Some futures exchanges and market data providers in futures, have an exception for a small company. Any Inc or LLC is not a natural person.
Thank you Robert. I just want to make sure I understand. So for equities you mean that one would have to pay professional fees twice. Once for the corporate account and one more time for the individual account. So double.
You pay per user login. If your broker allows you to toggle back and forth on one login, you should only pay once, the pro fee.
In this case two logins. The individual account would represent a natural person trading their own money and not registered in the industry. The corporate account would pay the professional fee.
If I had an LLC, IRA, Roth IRA, joint account, and Individual account all at the same broker, with the same platform, I would only pay once. If you choose to have two IDs and two logins, you will likely pay Pro for the LLC and non- pro for the other. I will always be pro for data on all my accounts.
My experience: IB = Professional. Tradestation = You need to talk to them and you have to prove you are only trading the money of your own LLC, no other people money. Tradovate = You can select non professional (your word)
For equity markets, what about trusts? For example, a revocable living trust in which the grantor, trustee, and beneficiary are all the same person? And what about an irrevocable trust, where the trustee is not a beneficiary, but the trustee is not a professional fiduciary, does not hold a securities license, and is not compensated for serving as trustee?
https://www.nyse.com/publicdocs/nyse/data/Policy-Non-ProfessionalSubscribers_PDP.pdf. This is the best I can do in a public post.