Yes, actually. It's called the Securities and Exchange Act.Quote from marwanco:
I'm I missing something?
It says somewhere that when you do the kind of trading you just described the SEC comes after your neck.
But even if it wasn't illegal, you'll PAY 0.3 to remove and get paid 0.20 to add... and your gross is 0 (youbuy/sell at same price) so you're just feeding the ECN.