Payment for Order Flow (PFOF): How Free Trades Work
Payment for order flow (PFOF) is how zero-commission brokers get paid. Here’s exactly who pays whom, what Rule 606 discloses, and why regulators disagree about it.
payment for order flow
Dark Pools Explained: How Off-Exchange Trading Works
Dark pools now match nearly half of U.S. stock trades — and most retail orders never touch a lit exchange. Here is how they actually work.
Market Makers, Bid-Ask Spreads, and Why Liquidity Matters
Every stock trade passes through a market maker who profits from the bid-ask spread. Here’s how market makers work, what payment for order flow means for you, and why liquidity affects every investment decision.