Great thread about the retail trading landscape. One thing I would add is that even if PFOF goes away it's highly unlikely that we'll go back to a world with $5/trade commissions because it was both a bad customer experience and not necessary for the brokerages to make $$$https://twitter.com/HideNotSlide/status/1404780934562471943 …
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The point here is that not only does consumer psychology favor zero commission, but retail brokerage economics do as well. They are in the business of collecting retail dollars and generating net interest from that base. They are not in the "trading" business per se
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free trade models failed before consistent pfof, people tried, of course..
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but yes, some people seek out firms that dont accept pfof and will pay a commission for that exact reason.. its small % of retail, and they tend to be cranks and terrible clients who want all your time..
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