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>or they are making a killing on crypto fees. They don't charge commissions to trade crypto. Not sure where they're skimming the money but the terrible order f
by fnordfnordfnord 5y ago
>or they are making a killing on crypto fees.
They don't charge commissions to trade crypto. Not sure where they're skimming the money but the terrible order fills you get there gives me an idea.
- edoceo 5y agoFront-running?
- fnordfnordfnord 5y agoA rose by any other name...
- gruez 5y agoNo need. It's just like those "commission free" currency exchange places you see at airports and tourist areas. There might not be a commission, but the spread is several percent, and they make all their profit off that.
- ralph84 5y agoThere are no regulations on execution quality for crypto. RH treats crypto as forex and quotes their customers a huge markup on the bid/ask spread (think airport forex booth type spreads). RH customers can only trade with RH and their crappy spreads. RH won't match customer crypto orders against each other.
- raziel2701 5y agoIn the S-1 they write: "For the three months ended March 31, 2021, 17% of our total revenue was derived from transaction-based revenues earned from cryptocurrency transactions, compared to 4% for the three months year ended December 31, 2020." So they do charge something on crypto transactions?