It's more than that. I had the same experience with guys that give brokers bad reps.
That's when I started my own IB in 1992. Now I'm a branch office of HighGround Trading. Drop my Inc. with the
state of IL. had to pay each yr. to be reg. with them also. BUT the NFA fees were getting old and so was the
yearly audit expense ($1000) cuz I was a guarantee IB.
So now I pay NFA zero and the audit is maybe $35.
I still know brokers who charge $60-70 full service and I dont know now they do it.