Robinhood fined USD 1.25 million

Discussion in 'Retail Brokers' started by Maverick2608, Dec 19, 2019.

  1. Robinhood fined $1.25MM for allowing four broker dealers to frontrun orderflow. The CEO of one of Robinhood's brokers just bought a quarter billion dollar penthouse in NYC.

    Robinhood has now surpassed 10 million accounts.

    Makes zero sense.
     
    Nobert likes this.
  2. IAS_LLC

    IAS_LLC

    What doesn't make sense?
     
    d08 likes this.
  3. Here4money

    Here4money

    financial lobbyist writing policy
     
  4. Overnight

    Overnight

    I thought Robinhood was a broker? What is difference between broker, and broker-dealer?
     
  5. dinn13

    dinn13

  6. Overnight

    Overnight

  7. That clients open more than 10 million accounts when Robinhood offer no advantages.
     
  8. IAS_LLC

    IAS_LLC

    They offered "free" trades before anyone else
     
    murray t turtle likes this.
  9. Nobert

    Nobert

    It's like, they did that consciously, and all there is 1,25 Mil ?

    It's more a warning , than an actual fine.

    The fine should be of a size, that would cripple them.

    10 - 30 - 50 mils.

    Next time would think twice.
     
  10. schizo

    schizo

    I've always thought the latest "free trade" craze was about selling the customers' order flow to the middle man (eg. broker dealer "front running" your order). So what is considered to be wrong with frontrunning the orderflow?
     
    #10     Dec 20, 2019