Those who are struggling with transaction fees when trading US stocks on Binance may have missed the key point. In the early market, exchanges did not rely on trading fees to make money - the top priority was to grab volume and occupy the market first. In that year, the spot transactions of bitcoin in three major domestic institutions (Huobi, OKCoin, and Bitcoin China) had been free of charge. This "free lunch" once made China account for more than 90% of the transactions in the world. It was not until January 2017 when the central bank interviewed the three institutions that the official announced that they would start to charge 0.2%. Transaction fees have never been the winner in the early market. When the top exchanges all come to grab the cake of tokenized US stocks, the fees will naturally be fought down by price wars - the futures war of that year saw contract fees roll up from 0.3% to 0.03%, which is a vivid example. Can you use a newly opened sector and buy Nvidia in USDT 24 hours a day? The value far exceeds that fraction of a point. Moreover, in the early days of this type of plate, the real cost was not transaction fees, but the buying and selling price difference and premium caused by thin liquidity. What we should really focus on now is whether this opening has been opened and whether it works well. On the other hand, if the license threshold is too high and the top players are unable to enter for a long time, it may form a monopoly and the fee rate may not be able to be lowered