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Robinhood Denies Favoring Wall Street Investors Over Millennials

Published 09/21/2018, 12:44 PM
Updated 09/21/2018, 02:01 PM
 Robinhood Denies Favoring Wall Street Investors Over Millennials

Robinhood Denies Favoring Wall Street Investors Over Millennials

The US-based stock and cryptocurrency trading app Robinhood has refuted a recent Seeking Alpha article that its brokerage policies work in favor of Wall Street companies and to the detriment of app’s users. Robinhood executes client orders at the best available price across any stock exchange, the company has said in a blog post on Tuesday.

Several days ago, Seeking Alpha contributor Logan Kane said that Robinhood “is making millions selling out their millennial customers to high-frequency traders.” Kane analyzed the company’s filing within the US Securities and Exchange Commission (SEC) and compared it to other brokerages. Robinhood rebates look smaller than the other players but the trading platform provides rebate data per dollar not per share like its competitors and, in reality, it makes massive profits, Kane sai...


This article appeared first on Cryptovest

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