The mobile investing app revolution popularized zero-commission trading — all funded by PFOF arrangements routing to Citadel Securities.
Robinhood: primarily Citadel. Webull: Citadel and Virtu. Public.com: eliminated PFOF in 2021 (equity). Stash: routes to PFOF brokers. M1 Finance: routes through PFOF arrangements. Acorns: routes through PFOF arrangements.
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