Robinhood: "if you're not paying, you're the product"
The math of Robinhood's free trades... It's mostly about luring newbies into incessant option trading.
Robinhoods average account size: $4,800 versus Schwab's average of $274,568!
"I think it’s fair to say that the number $18,955 that was eye-popping could be a bit exaggerated, but we shouldn’t overcomplicate things. Unsophisticated investors trading opaque markets will always be, almost by definition, the most profitable customers to make markets for. Y’all are definitely still the gravy."
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