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Retail brokers relaint on PFOF would have to abandon zero commissions, so will get less trading but this remaining trading would get more PI. My guess is RH would get creative with structuring new "non zero" commissions to minimize psychological effect, esp. on small tickets
Charge customers commissions, people get mad Accept payment for order flow, people get mad High compliance costs, bad Zero interest rates, bad Seems like brokerages of any kind are a terrible business to be in right now.
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