With the move to $0 order fees for online brokerages, not surprised to see more tie-ups. Even running the business at break-even, MS gets to market their other products to all E-Trade's customers.
That said, what's the current economic model for independent online brokerages?
Sell order flow? Rate arbitrage off uninvested assets?
That said, what's the current economic model for independent online brokerages?
Sell order flow? Rate arbitrage off uninvested assets?