HFT make their money from front running client orders... flash orders. liquidity.? what liquidity these HFT aren't in the game to provide liquidity they are program to make money trading in front of client orders. the frequency and low commissions high leverage is impossible for retail human traders with retail accounts to replicate these HFT programs don't participate in penny stocks. penny stocks is another rigged game too. with penny stocks you have lots of zero volume days and not worth the time for these HFT no money on the table to skim off
yes they do. on stocks with 10+ cent spreads they subpenny all the time. if there is any type of size displayed it will always be subpennied. reserving with 100 shares can be somewhat effective to counteract the fraud.