
Robinhood Is the New Juul - philipkd
https://medium.com/philosophistry/robinhood-is-the-new-juul-6fadb7e4cd71
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perl4ever
"Getting fees for routing comes at the cost of getting the best price for your
purchase orders"

That's implying everyone else does it, but if it was legal and standard
practice, Robinhood wouldn't have gotten in trouble for it. The dynamic seems
similar to being taken in by a crooked politician - the pol says "everyone
else is a crook", people vote for him, he is proven to be a crook, it doesn't
matter because people continue to believe everyone else is just as bad.

"the real opportunity isn’t for people like me and you, but for brokerages
that are roping us in"

Haha not necessarily:

"The price of the May 2020 contract dropped to an unprecedented negative price
of $37.63...Several Interactive Brokers LLC (“IBLLC”) customers held long
positions in these CME and ICE Europe contracts, and as a result they incurred
losses in excess of the equity in their accounts. IBLLC has fulfilled the
firm’s required variation margin settlements with the respective
clearinghouses on behalf of its customers. As a result, the Company has
recognized an aggregate provisionary loss of approximately $88 million."

