Is Gessler, head of the SEC, trying to end zero commissions?

Discussion in 'Wall St. News' started by zdreg, Oct 22, 2021.

Are old line firms trying to eliminate zero commission model

  1. yes

    3 vote(s)
  2. no

    4 vote(s)
  3. I am so smart that I have a work around zero commissions

    2 vote(s)
Multiple votes are allowed.
  1. Nobert


    I don't know what kind of, propaganda, you're speaking about, while about eToro i wrote from personal experience, yet, be it your way.
    #11     Oct 22, 2021
  2. 2rosy


    so this thread is just your opinion. misinformation is everywhere :finger:
    #12     Oct 22, 2021
  3. zdreg


    I won't deny the possibility that that you didn't get your fill but in a fast moving market as in dwac etc it might happen. If you don't have colocate things happen.There is however no reason to extrapolate. The same thing could have happen without order flow. If you have that concern, which I doubt you have, route your oder to arca etc.
    #13     Oct 22, 2021
  4. zdreg


    nonsense. point to my misinformation instead posting your opinion as to my previously stated numbers. you are the one providing opinion but no facts.

    Here is my previously post which you conveniently disregarded:Assume 100 tickets per days at $2/ticket on 100k Account. That would be an additional 50k per year with a ticket charge or 50% charge to capital. There is no way that I believe I am going to save that 50k without order flow. I trade stocks with.01to .03 spreads.
    #14     Oct 22, 2021
  5. Nobert


    Now i am using another broker, i do pay commissions, but fills are alright.
    #15     Oct 22, 2021
  6. zdreg


    I don't why or how often you had issues with your pfof broker. However you should have entered a customer dispute issue with your broker. There is an audit trail. This is an extremely comparative business with sub penny executions.

    By the way a 5% move in a penny stock is nothing usual and you may have been getting whipped sawed.
    #16     Oct 22, 2021
  7. Nobert


    It wasn't a penny one. Anyways, nevermind zdreg.

    Have a good weekend.
    #17     Oct 22, 2021
  8. MrMuppet


    oh god...I don't know what's worse: a wholesaler who fleeces clients by getting a look at their orders for a small fee without the obligation to execute or a guy who defends this practise because he's gotten a couple of good fills by accident
    #18     Oct 22, 2021
    d08 and qlai like this.
  9. zdreg


    I didn't defend the practice because of a good fill by accident. Furthermore where do you come to the conclusion that orders that cross are not being executed. It is automatically executed and often between the bid and ask if matched off.

    FYI these wholesalers execute to 4 decimal places as opposed to MM or exchanges who deal in penny for 2 decimal increments.. The retail traders benefits.

    FYI mm or exchanges are good for only 100 shares therefore you have no reason to beef.

    In addition Robin Hood feeling blowback from traditional wall street and its influence at the SEC said it was willing to accept the elimination of subpenny execution (4 decimal place execution) in a compromise to maintain payment for order flow. Guess who would benefit? The traditionall MMs who deal in .01 increments.
    Last edited: Oct 22, 2021
    #19     Oct 22, 2021
  10. %%
    OK, LOL;
    #20     Oct 22, 2021
    Nobert likes this.