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Re:SEC charges Robinhood $65M for misleading customers about... by pclmulqdq on Thursday December 17, 2020 @11:09PM (#25463743)
IBKR does some of its trading off-exchange like the PFOF types, but they do it in-house, not on a paid-for basis. If you see "SMART" in the routing of an order on IBKR pro, often that order went to one of their darkpools or was filled by them off-exchange (at a price better than the NBBO).

The price improvement per share also sometimes comes from exchange rebates that they pass through to customers.

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