Coinsetter is a licensed exchange in New York City. They provide basic exchange services for the beginner as well as advanced trading features for more experienced traders. Coinsetter uses non-USA banks so cash transfers in and out incur fees of about 0.20%. Bitcoin deposits do not incur a fee but they are done manually. Bitcoin deposits are done manually during business hours. Customer support is very responsive.
Coinsetter uses “maker-taker” fees with rebates. This means if you set an order (“maker”) and it is filled then you get a rebate on the fees paid by the person who fills the order (“taker”).
Coinsetter also has margin trading and requires a 20% equity. This allows users to “short” Bitcoin by selling Bitcoin bought on margin credit. of course this is very high risk and this is for experienced traders. Since the Bitcoin price can change drastically in a matter of hours or minutes any time of the night or day money can be lost (or gained) very quickly.