I have noticed that there seems to be a huge uptick in entry-level retail stock trading platform adverts, like Etoro and RobinTheHood.
Previously the interfaces were a bit to technical and the fees too high. I don't know how it exactly is in The US, but I had to pay $200 / year to The IRS to be able to trade. I also can't remember the trading prices, but seem to remember UK stocks or shares has a £8 execution order + whatever fee. For the average Joe that might have a few hundred notes to punt, that could be a considerable single-digit percent fee. $1,000 is your entry for stocks and even more for bonds. Many bonds can only be bought in $100,000 batches, some $10,000.
So such platforms have brought low-information people to the gambler.
Does anyone have any insights into this? Who is behind this?
It all seems very convenient, since central banks have gone into a mode in which they are doing everything they can to hold the economy up for maybe another decade, before it crashes and they execute the next phase of The Great Reset.
In the US, it's zero commission trades and zero IRS fees outside whatever your taxes are. That's for junk platforms like Robinhood, which take about $.01 skim off your entries, both in and out. I can't speak to their options trades for skimming but it's crazy to me that people use that crappy platform for any serious trades.
Having dealt with some of their ranks, they seem to be staffed by idiots who don't fully understand trading or technology. I always assumed they were a bit of a ploy to get more liquidity into the markets, along with apps like Acorn.