Hi-

It is important to have an understanding of how your Broker executes/routes your orders to ensure best execution.  A starting point, is to review publicly available information on order execution and routing.  SEC Rules mandate that firms publish, on a public website, specific data that relates to order execution (Rule 605) and order routing (Rule 606) practices.

Brokers are able to provide low/free commissions by leveraging order flow.  Typically, by receiving payments for routing order flow to wholesale market makers, internalizing order flow to generate trading revenue, or routing order flow to venues (public and dark) based on cost rather than execution quality.

Best -Ken

On Wed, Dec 17, 2014 at 11:05 AM, Yaniv Sneor <[address removed]> wrote:

Trevor,

Just make sure that they don't use dark pools, which would be one reason why they could offer the service for free.

Yaniv

On Tue, Dec 16, 2014 at 7:52 PM, Trevor Little <[address removed]> wrote:

I must have signed up for access to Robinhood https://www.robinhood.com/ a while back and forgot about it. They sent me an invite today and it looks pretty slick. No commission stock trading and real time quote free. No minimum balance.

What are your thoughts on it? For a casual trader any downsides?

They sent me 3 invites so the first 3 to request will get one.

-Trevor

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