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Robinhood's no-fee model has real costs: 'That is what scares me'

Robinhood's no-fee model has real costs: 'That is what scares me'
CNET
37 mins ago
© Robert Rodriguez
During a heated congressional hearing in February, Rep. Alexandra Ocasio-Cortez ripped into Robinhood CEO Vlad Tenev, grilling the Silicon Valley executive over how his fee-free trading app makes money.
As Tenev appeared via Zoom before the House Financial Services Committee, the Democratic member of Congress, from New York, zeroed in on "payment for order flow." It's a financially wonky term for a controversial practice in the trading world that lets big investment firms pay brokerages like Robinhood for routing traffic to them. Then the firms make the trades on Robinhood's behalf.

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