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Petro-Dollars are good enough for the US Government.

PFOF has always been a controversial issue, but it is technically legal, even if it is subject to abuse. If you take a look at Winston's posts on the thread I linked to earlier, he was arguing about how retail traders were getting their orders skimmed through such practices. The point is...

I am not registered with FINRA or affiliated with any exchange. Anyway, it's not as if you'd be able to substantiate the credentials of a non-premium forum member who claimed to have XYZ in his possession. This is, after all, an anonymous internet forum. Most of the questions I have made have...

If you weren't so inconsistent, maybe your position would be made more clear. As it stands, you don't have an actual position. An interesting fact: Back in the 1990s, Bernard Madoff as Chairman of the Nasdaq was one of the main lobbyists to keep PFOF legal.

Now, you're just being deceptive and picking apart phrases of speech for no legitimate reason. The real reason is that you don't have a legitimate argument, as your whole position is based on defending the current market structure. You don't have a real position. The proper Industry phrase...

This is coming from the degenerate who has contracted himself multiple times. What a track record. Go find yourself a hobby. Your posting history on this thread is available for the entire world to see. You can try to save face now, but most of the damage has already been done. Too bad.

Ask GS why they receive PFOF and ask the clients of GS about their relative quality of execution. Anyway, I have no idea who that user is, so don't bother me with this trifle forum bickering. I'm not interested.

By the way, if you want to get technical, even GS receives PFOF. The point is that their business model is not based on receiving kickbacks for PFOF, it is based on providing industry-standard execution quality. So, they may receive PFOF for a variety of reasons, but only to the extent that GS...

I don't want to defend IB, I have no interests in doing so actually, but if one of their reps want to show up and do so, then that's their business. Take it up with them, not me. Well, of course they will route orders whenever possible to save exchange fees and execution costs on their part...

They don't take PFOF, but there have been complaints lodged against IB in that they use client orders to feed liquidity to Timber Hill. IB is still a retail broker, yes, but a more unique retail broker in the sense that they compete in terms of price improvement and execution quality, so say...

Well, my take on it is that while IB may or may not internalize orders to a certain degree for its own market-making activities, it is still not as bad as most other retail brokers. So, relative to other retail brokers, it comes out ahead in that regard. It's like comparing the Swiss Franc...

So then, why are you commenting on a thread that was specifically created to discuss retail brokers that provide DMA platforms? First, you were justifying PFOF/Internalization policies, and now that you have been exposed as a hypocrite, you are moderating your position. So, tell us, why did...

Well, look at what I found from Winston on another thread: http://www.elitetrader.com/vb/printthread.php?threadid=199937 What an outrageous display of hypocrisy.

Well, what's absurd is the fashion in which you continue to justify market abuse against retail clients. That's just ridiculous. The difference is that certain brokers will specifically only order-route to dark pools as a result of PFOF, irrespective of whether or not they can locate the best...

To be fair 'brokers' that clear through Penson, aren't true brokers in the sense that they are Introducing Brokers and your actual broker happens to be Penson. Penson sets the fixed cost-per-share basis for every transaction, the Introducing Broker must place their price on top of that. With...

The point is that there are few direct access brokers left, especially few direct access brokers that are self-clearing. If you use a non-direct order through a penson IB, you can expect to be ripped off as that is in their own best interests as a result of PFOF. You are also limited to...

Oh, another thing for those that may be confused when they see the heading of this thread. Many Brokers that have advertised themselves as 'Direct Market' brokers at one point or another like TD-Ameritrade or say that they offer 'Direct Trading', but in actuality do not, so this is mainly...

I'm sure that you're well-aware that Apex is the result of penson being bailed out by peak6, but even peak6 wouldn't pay to manage the entire business, hence why penson has sold their futures trading and clearing division to Knight Capital. Yes, I know that all Introducing Brokers have the...

Let me clarify that I am aware of IB's market-making subsidiary Timber Hill as well as DMA. However, in the case of Lightspeed for example, Lightspeed acts as an introducing broker for Penson, this means that all trades are technically conducted through Penson, are they not? However the...

Well, I sincerely doubt that you will get the best fills with a PFOF 'broker' considering the intense conflict of interest. That's the nature of the business. Anecdotal evidence from various forums including ET as well as third-parties that have verified price-improvement and execution between...