There is a “very smart” businessman in New York who felt that honoring signed agreements was not necessary. He wrote a whole book about it. The Chinese have studied this book extensively to understand how this businessman thinks.
Payment for orderflow is awesome:
A market maker pays your commissions for you because they think you are stupid. If you aren’t stupid don’t you want to trade with someone who thinks you are?
They still have to follow reg NMS so you are guaranteed NBBO. You might not get as much price...
7000 people is all it took. Makes you think... sell a service (not necessarily porn) and a small group of interested parties can turn into good income.
How many traders here earn 750k year?
Yes. Futures use SPAN.
BAT31 doesn’t know what he’s talking about and then being arrogant about his ignorance.
.... and he called me a troll in another thread.
It’s can be more risk if you scale it up, which he obviously did.
Bottom line:
guy didn’t know what he was doing. Robinhood enabled him.
Robinhood infrastructure sucks.