How Much Does It Cost To Trade On Wall Street?

How much does it cost to trade on Wall Street? Okay, so right now, in order to trade on Wall Street, you need to have a seat on the stock exchange. Right now, in the old days, in 1903, 1,366 seats were issued. Back then, they were worth 20,000, 30,000. They went up in price based on the economy, based on the need for market trading. In 1929, after the crash, they went down to 13,000. Then they went up in the 40s and 50s, they were in the 100, 200,000. Then in 1985, they were worth 183,000. They went up to 300,000, 1.2 million. In 1995, I think it was, the NYSE went public, a seat was $8.5 million, right? Everybody who owned a seat, it's a very exclusive club. You could not buy a seat with someone else's money, you had to have the money yourself. But in order to trade, you needed to have a seat. I always leased a seat, I paid as little as 5,000 for the lease and as much as 75,000 a month to lease a seat to give me the right to trade stock on the floor of the stock exchange. How much is it now? So right now, it's probably about $5,000 or $6,000 a month to lease a seat. It's a different structure, right? The company went public in 1995 and then things sort of changed. But in order to trade on the floor, first of all, you need to be sponsored by a company and you have to have a lease. So a lease is now probably $5,000 to $7,000 a month.