Robinhood CEO defends payment for order flow, says practice is ‘here to stay’

Comments

• Imgonnatrythis@sh.itjust.works ⁨11⁩ ⁨months⁩ ago

  Assume their client base is all dicks and idiots at this point so why not? Indont understand why anyone trusts their money to these clowns.

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  • Kalkaline@leminal.space ⁨11⁩ ⁨months⁩ ago

    Just because dicks and idiots are getting scammed doesn’t make it right.

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  • min_fapper@iusearchlinux.fyi ⁨11⁩ ⁨months⁩ ago

    Because they don’t know better

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    • foggy@lemmy.world ⁨11⁩ ⁨months⁩ ago

      It’s because in 2008 we decided that some financial institutions were “too big to fail,” so now every institution wants to have a fucking credit card attached to their business model to catch the wave of that “too big to fail” dollar.

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  • jmp242@sopuli.xyz ⁨11⁩ ⁨months⁩ ago

    I mean I don’t trust Robin Hood, but do they sell the securities for more money? Or is it just they try and get you to make more trades? I’m not even sure how a broker would do that beyond making the fees 0. I mean, maybe if they were managing your investments for you, but they’re a discount broker where you do self directed trades right?

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    • min_fapper@iusearchlinux.fyi ⁨11⁩ ⁨months⁩ ago

      www.youtube.com/watch?v=bP74RBTE8kI

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• NewPerspective@lemmy.world ⁨11⁩ ⁨months⁩ ago

  Wait, Robinhood survived their GameStop bullshit?

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• mannycalavera@feddit.uk ⁨11⁩ ⁨months⁩ ago

  PFOF is banned in the U.K

  Laughs in Britishness

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  • Fades@lemmy.world ⁨11⁩ ⁨months⁩ ago

    As it should be. It’s banned in many countries for good reason

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• Fades@lemmy.world ⁨11⁩ ⁨months⁩ ago

  That is fucking bullshit, these fucking thieves run the markets

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• Cheesus@lemmy.world ⁨11⁩ ⁨months⁩ ago

  I mean what do you expect from a brokerage that charges nothing for trades? It’s not like they’re a giant brokerage who can make up no cost trades with financial advisory fees

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  • bobs_monkey@lemm.ee ⁨11⁩ ⁨months⁩ ago

    The article says that most of RH’s revenue comes from interest generated on client’s cash balances, and about 5% is from routing.

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