Would it be idiotic to try to start a CTA with less than $500,000 in starting capital? I read on a website that these are the general costs (not that much money in my opinion). What other approximate costs would I be looking at? I figure why not get your performance published, and hope to gradually attract assets as your trading results yield more capital and slowly add investors. Itemized costs, am I missing any other major costs? NFA Registration $1,100 Fingerprints: $10 Series 3 Exam Fee: $120 Series 3 Study Materials: $100-$300 Hiring Regulatory Advisor: $4,000 – $7,000 Regulatory Advisor: if you hire a firm like this they will also likely assist you with performance reporting and accounting services which will create ongoing monthly/quarterly costs for your CTA. Again, you can do these things on your own but I would suggest against it.