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IntermediateStock Alerts + Tools0:46Accounts

Who Pays for Your Free Trade

Payment for order flow means a firm pays your broker to handle your order, which is where the revenue from commission-free trading comes from.

0:46 · 6 scenes

This lesson is part of a Stock Alerts + Tools plan.

What the lesson covers

  1. 0:00Commission-free trading is not free. Somebody is paying for the order.
  2. 0:05The arrangement. Your broker sends the order to a wholesaler, and the wholesaler pays for it.
  3. 0:15Why the wholesaler wants it. Retail orders are less likely to be informed, which makes them safer to trade against.
  4. 0:24The genuine debate. You often get a slightly better price than the public quote, and it is not transparent.
  5. 0:33What you can check. Brokers publish execution quality reports. Very few customers ever read one.
  6. 0:41Know how your broker is paid, then check the execution reports.
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Educational content only. MadStockAlerts provides market commentary, research, and educational content. It is not personalized investment advice, and nothing here is a recommendation to buy or sell any security. Trading and investing involve substantial risk, including loss of capital. See the Risk Disclosure and Customer Agreement.
Educational content only. MadStockAlerts provides market commentary, research, and educational content. It is not personalized investment advice, and nothing here is a recommendation to buy or sell any security. Trading and investing involve substantial risk, including loss of capital. See the Risk Disclosure and Customer Agreement.
Who Pays for Your Free Trade — MAD Academy Training Video · MadStockAlerts