Isn't this considered a "not so very good" brokerage? What are the actual costs per trade or per share? From someone who has been there, done that. I can read, too, but what someone writes doesn't always tell the whole story or tell it unmbiguously or obviously. On the face of it, looks like a pretty good deal, especially for the level 2 data.
I am not a customer, but if you don't need speed and/or DMA, why pay commissions? As long as the broker sells order flow (or intrenalizes), they need to prove that their execution quality worth the commissions they charge. They can't and won't.
Robinhood: Payments for Order Flow 2018, Up 227% http://alphacution.com/us-equity-pa...il&utm_term=0_98541b806d-4d33f081a4-204597581
Are there any statistics which show that PFOF results in worse execution quality than internalization? I have not seen any. My view is that if the broker doesn't invest in it's infrastructure (retail brokers have no incentive to), then I would rather HFTs do the internalization and routing ... At least they know what they are doing and have the tech to do a decent job. I doubt retail brokers even have the data feeds required to do it properly. There, got it off my chest.