rtharp, correct. It is quite steep actually: http://www.naet.net/page493831.htm + monthly fees of $1000 and up (max $3000) + other charges up the wazoo (cancellation, one time setup, etc.)
Speaking of fees, this "firm" also charges $0.25 per cancellation plus other fees for SOES and SNET orders. The top membership fee is $3000 per month, although you get reduced amounts for referrals. Any site that gives you refunds for referrals immediately sounds very suspicious to me.
BTW, this is an instatrade office. i guess his business is really drying up and this is his way of trying to drum up new suckers!!! can you say Bucket Shop???!!!!!!!
Sounded a little too good to be true!! Anyway, thanks for all of your input. I'm new to this site and find the discussion area extremely helpful. Any thoughts on a firm that has very low rates for someone doing 100,000 a day?
jefftrader How many trades a day? I use www.cybertrader.com pro version and if you do 500+ tickets a month the price is down to $9.99 a ticket with no ECN charges on ISLD and a couple of other ECNs. Ken
The site says NAET is not a broker-dealer? Who do you trade through then? ...and for NYSE, they charge you: $1000-3000 per month "membership" + .0029-.0047 per share clearing + $1.25 per trade or .00175 per share for software + .003 per share execution + one-time fees + equipment charges + who knows what else Do they think people are retarded?