The whole market is centered around the idea of big finance fleecing normal people out of their money. They don’t produce anything or add anything substantial to the economy, but they rake money in from everyone else who does. Of course it’s a tool for them.
This ^ and it’s also a poor tax toll booth. You don’t have to pay commissions to trade on their platform which means they have zero obligation to give you best execution (in their mind), in fact they make the other half of their dough via what’s called order routing. They are paid to route your orders to whichever clearing firm has the contract. Throw in rehypothication (levered securities lending) and it’s like printing money, until of course people get buyers remorse like they are now. There’s a reason the owners started in high frequency trading.
The whole market is centered around the idea of big finance fleecing normal people out of their money. They don’t produce anything or add anything substantial to the economy, but they rake money in from everyone else who does. Of course it’s a tool for them.
You are 100% correct
Robinhood=Wall Street's version of a RINO who pretends to be the hero of the little man
This ^ and it’s also a poor tax toll booth. You don’t have to pay commissions to trade on their platform which means they have zero obligation to give you best execution (in their mind), in fact they make the other half of their dough via what’s called order routing. They are paid to route your orders to whichever clearing firm has the contract. Throw in rehypothication (levered securities lending) and it’s like printing money, until of course people get buyers remorse like they are now. There’s a reason the owners started in high frequency trading.
Robinhood and Dominion
Red pills every fucking days. I love it!