PFOF economics
Robinhood sends orders to wholesalers (Citadel, Virtu) who pay for the flow. That + interest on balances = revenue. Users pay $0.
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PFOF economics
Robinhood sends orders to wholesalers (Citadel, Virtu) who pay for the flow. That + interest on balances = revenue. Users pay $0.
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Real-time market data
Consolidated tape (SIP) is delayed 15 min for free retail data. Robinhood buys pro-grade feed, streams to users.