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Re:SEC charges Robinhood $65M for misleading customers about... by argonaut on Thursday December 17, 2020 @10:11AM (#25456224)
Schwab also receives payment for order flow (AKA selling your orders): https://www.schwab.com/legal/order-routing-1. In fact, every retail brokerage I'm aware of receives payment for order flow. Schwab also has outages although not as bad as Robinhood was this year.
Re:SEC charges Robinhood $65M for misleading customers about... by ummonk on Thursday December 17, 2020 @02:25PM (#25459295)
Is Interactive Brokers not considered a retail broker?
Re:SEC charges Robinhood $65M for misleading customers about... by argonaut on Monday December 21, 2020 @09:25AM (#25495180)
IBKR has two tiers. Their free "lite" tier (targeted at retail) receives payment for order flow. Their Pro tier (which charges a monthly fee) does not.
Re:SEC charges Robinhood $65M for misleading customers about... by d33lio on Thursday December 17, 2020 @10:19AM (#25456305)
Sure, but they don't promote buying crypto as an "investment". Tbh, I don't really have the patience to argue over this.
Re:SEC charges Robinhood $65M for misleading customers about... by vel0city on Thursday December 17, 2020 @12:25PM (#25457727)
> An investment is an asset or item acquired with the goal of generating income or appreciation. Appreciation refers to an increase in the value of an asset over time. When an individual purchases a good as an investment, the intent is not to consume the good but rather to use it in the future to create wealth. https://www.investopedia.com/terms/i/investment.asp

Buying Beanie Babies or tulip bulb futures or cryptocurrencies because you expect the value to increase over time is absolutely an "investment". They might be good or bad ideas to invest in, but they're without a doubt an investment.

Re:SEC charges Robinhood $65M for misleading customers about... by renewiltord on Thursday December 17, 2020 @11:10AM (#25456860)
Then don't, because clearly you made incorrect claims to start with.
Re:SEC charges Robinhood $65M for misleading customers about... by ehejsbbejsk on Thursday December 17, 2020 @10:30AM (#25456416)
I hate to break this to you but front running happens all the time in finance. In fact that’s the entire business model for bulge bracket trading desks. I know it’s easy to point fingers at RH but what they’re doing is very benign.
Re:SEC charges Robinhood $65M for misleading customers about... by vel0city on Thursday December 17, 2020 @12:22PM (#25457690)
Actually, brokers like Schwab do have mobile apps. They might not be as polished or pretty as RH but a lot of the bigger brokers have mobile apps which let you trade from your phone.

https://www.schwab.com/mobile

Re:SEC charges Robinhood $65M for misleading customers about... by gen3 on Thursday December 17, 2020 @10:25AM (#25456365)
Just FYI, Schwab does have a mobile app. I don’t like the vertical charting as much as Robinhood, but you can still trade stocks and options through it. If you want to trade bonds or some of the more exotic stuff you need the website.