I recently became a registered CTA approved for trading futures and forex. With a very limited budget I looked around hard for inexpensive options. All the lawyers I talked to were asking for minimum $5000. I ended up using Dennis at www.irfutures.com. If anyone is interested in getting registered as a CTA(including disclosure document and Advisor procedures) for less than half the price of what others are quoting, can contact him. Regards.
$5000 is very good if they really do everything and do it well. The guy I normally recommend that is also an admin. charges more like $12K
If >10K is the norm, then I would definitely recommend talking to Dennis. My total cost which included fees and study guides for series 3 and 34 exams, forming a company, $2500/year to NFA for being registered as a forex firm and consulting fees for Dennis was less than $6,000.
Our disclosure document has been approved by the NFA and we are permitted to talk to potential investors. Our annual NFA dues are under $3000(I believe its only $750 if you dont trade forex) https://www.nfa.futures.org/nfa-registration/NFA-membership-and-dues.HTML
If you guys contact me, I would gladly give you a person I consider thorough and highly knowledgeable at reasonable prices. The initial costs could add up, however staying organized for your audits is key. Matt
Just saw this thread and i am also a registered CTA for 7 years now, although my primary income is as a commodity broker / VP at cannon trading. feel free to contact me with any questions, I will be happy to share info from my experience as a CTA and resources i use.