Robinhood Denies Favoring Wall Street Investors Over Millennials

Cryptovest

Published Sep 21, 2018 12:44PM ET

Updated Sep 21, 2018 02:01PM ET

Robinhood Denies Favoring Wall Street Investors Over Millennials

The US-based stock and cryptocurrency trading app Robinhood has refuted a recent Seeking Alpha post on Tuesday.

Several days ago, Seeking Alpha contributor Logan Kane said that Robinhood “is making millions selling out their millennial customers to high-frequency traders.” Kane analyzed the company’s filing within the US Securities and Exchange Commission (SEC) and compared it to other brokerages. Robinhood rebates look smaller than the other players but the trading platform provides rebate data per dollar not per share like its competitors and, in reality, it makes massive profits, Kane sai...


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