Why can US brokerages have zero fees?

PFOF (Payment for order flow) Order flow payment (Payment for order flow: PFOF) involves retail brokerage brokers, such as Robin Hood (ticker: HOOD) and TD Ameritrade (has been acquired by Charles Schwab, ticker: SCHW) to sell their customers’ market orders to third parties (represented by Citadel Securities and Virtu Financial), the third party executes these … Continue reading “Why can US brokerages have zero fees?”

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