Robinhood Responds to Accusations of Favoring Wall Street over Its Users

In search of Alpha has revealed an exposé by Logan Kane relating to free inventory and crypto buying and selling smartphone utility Robinhood. Mr. Kane alleges the corporate “takes from the millennial and offers to the high-frequency dealer” by accepting cost for order move and promoting order knowledge for “over ten instances as a lot as different brokers who interact within the follow.” Robinhood reached out to in response, explaining and defending its practices.

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Robinhood Explains Its Enterprise Mannequin and Practices

Generally known as “greatest execution,” a licensed brokerage should “execute buyer orders at the very best accessible value throughout each regional and nationwide inventory trade (nationwide greatest bid and supply, or NBBO),” a press release by Robinhood started in response to an article revealed in these pages solely days in the past. The…

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