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Re: Robinhood fees. Who cares about the fees that the wholesalers pay -- It's about the end-user experience. And for that matter, you don't seem to understand t
by hendzen 8y ago
Re: Robinhood fees. Who cares about the fees that the wholesalers pay -- It's about the end-user experience. And for that matter, you don't seem to understand the full picture on how routing/fees work with retail orders for US equities. Robinhood orders typically get routed to wholesalers like Virtu, Two Sigma or Citadel that actually execute the orders at the prevailing market price on public exchanges. Robinhood gets PAID for that, not the other way around.
Do you really expect the typical person to set a bunch of passive limit orders on GDAX until they get filled? What kind of user experience is that? I would be willing to wager that 95%+ of Coinbase users are just buying and selling directly on Coinbase (and paying the extremely high fees) and have no idea what GDAX is.
- __blockcipher__ 8y ago>Do you really expect the typical person to set a bunch of passive limit orders on GDAX until they get filled? What kind of user experience is that? I would be willing to wager that 95%+ of Coinbase users are just buying and selling directly on Coinbase (and paying the extremely high fees) and have no idea what GDAX is. Of course that's the case. I never said everyone does that. I said it's a no-brainer to do it.