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It's a gambling company. Their S1 claims they are a "safety first" company. It's laughable that this even needs to be said. They've gamified trading at the expe
by anonu 5y ago
It's a gambling company. Their S1 claims they are a "safety first" company. It's laughable that this even needs to be said. They've gamified trading at the expense of the little guy and the benefit of wall street. They claim they've returned $1.7bn in price improvement over less than 2 years but this masks the real effect that HFT is probably making multiples of this on their flow.
I myself have filed a FINRA complaint against them 3 years ago for sending an order that was supposed to trade at the open but instead traded in the pre market session. In their attempt to make trading "easy" they removed basic long standing assumptions around how you trade. I lost money because my order was executed early. FINRA requested the complaint be addressed by RH. Guess what... They never responded. Great way to treat your customers...