The companies, products and regulatory developments shaping the broker industry.
A CFTC impartial-access interpretation and Robinhood state-specific sports-contract agreements now sit on intersecting legal timetables. The records reveal competing compliance demands, not an established violation.
Robinhood's Q3 filings show a $146m increase in event-contract revenue against $150m in total company net revenue growth, alongside an agreement for a potential equity interest tied to directing selected contracts to Crypto.com venues.
Robinhood UK customers can request eligible US IPO shares before public trading with zero commission; allotments and post-listing prices remain uncertain.
CMC and eToro both provide structured incident APIs. Robinhood’s former page directs users elsewhere, while IBKR emphasises data-centre status and reset windows. The differences limit any reliability ranking.
Monthly filings show retail-facing FCMs carrying customer assets under futures, foreign-futures and cleared-swaps rules. The product label alone does not reveal the legal protection.
Robinhood and Webull publish gross-style calculations, while Public and SoFi describe percentages of net proceeds—making headline rates non-comparable.
A comparison of five large brokerage disclosures shows why excess-SIPC per-customer limits cannot be read without the aggregate policy cap.
Q3 filings show a $543.2 million routing-company total and an almost exact 80% downstream pass-through, while Webull adds a separate $114.2 million.
Robinhood moved more than $6bn from bank sweeps into broker-dealer free-credit balances and expressly linked the change to margin lending. The shift altered the legal location, protection framework and earnings role of customer cash.
Fractional, dollar-based, recurring, overnight and managed-account orders are excluded from Robinhood’s public held-order percentages, leaving the scale and execution of those workflows unquantified.
CFTC and SEC filings show a $479.6 million annual increase in adjusted net capital, much larger customer-fund pools and a prediction-market revenue line that expanded more than tenfold.
Customers kept the same displayed yield, but the cash crossed an accounting and protection boundary from programme-bank deposits to broker-held free credit balances.
Trading 212, eToro and Interactive Brokers all use 50% in their lending economics, but one refers to received interest, another to revenue net of third-party costs and another to a market-based collateral rate. Robinhood uses up to 15% of gross revenue.
Borrowed securities and collateral expanded sharply, but lower average rates and higher costs turned an $87m quarterly contribution into a $19m loss.
Robinhood reported $173 million of event-contract transaction revenue versus $120 million from crypto and $399 million from options, a material reshaping of its brokerage business.