Beware of Order Routing on these New "App" Brokerages | |
Weyoun
(OP) User ID: 78625468 United States 02/18/2021 12:55 PM Report Abusive Post Report Copyright Violation | I placed two buy orders, one in "app" brokerage and one in traditional brokerage. Same equity, same share amount, same price. Except, i placed the "app" one earlier, like 20 minutes earlier. The price eventually went down, touched my order price, and went back up. You would expect the "app" order, placed earlier, to trigger first right? Nope, the traditional brokerage order triggered first. The "app" one never did. The price moved back up and the "app" order, placed earlier, is still sitting there unexecuted. |
Anonymous Coward User ID: 80050376 United Kingdom 02/18/2021 12:58 PM Report Abusive Post Report Copyright Violation | Hi Op, interesting thread, thank you. Could you list as many of these platforms as you can for me please? Not the largest ones, the small and medium sized ones. Cheeky to ask but I have started working for a payments comp0any and these platforms are one of the target markets I've been assigned to understand. You'd be saving me a shit load of time. Thanks in advance mate. |
Pukeko
User ID: 73782873 United States 02/18/2021 01:00 PM Report Abusive Post Report Copyright Violation | |
Weyoun
(OP) User ID: 78625468 United States 02/18/2021 01:14 PM Report Abusive Post Report Copyright Violation | Hi Op, interesting thread, thank you. Could you list as many of these platforms as you can for me please? Not the largest ones, the small and medium sized ones. Cheeky to ask but I have started working for a payments comp0any and these platforms are one of the target markets I've been assigned to understand. You'd be saving me a shit load of time. Quoting: Anonymous Coward 80050376 Thanks in advance mate. Go to any mainstream website that has a finance or market news section, disable your ad blockers, and you'll see these new "app" brokerages advertising all over the place. They are supposeldy "free." No fees. But how do they get the money to operate and run so many ads and so many promos? When something is "free", it's becuase the user base is the product. They route the orders to who-knows-where so their real customers, big money, who pay for the orders to be routed to them, front-run the orders. |
Anonymous Coward User ID: 80050376 United Kingdom 02/18/2021 01:38 PM Report Abusive Post Report Copyright Violation | |