I am still waiting for Robinhood to come to Aus and hopefully also allow trading on ASX stock via their platform.
Wonder what their angle is? Every broker has their angle whether it is high commissions or a prop team trading against their clients and sometimes even interfering with order entry, often just after some cross trading and prior to a significant move..
Nobody polices the proprietary order entry systems which are heavily 'eavesdropped' in my experience... in some cases even before you submot to market so it goes way beyond HFT frontrunning. Well maybe that has quietly been clamped down on now HFT is available, but quietly is the word as you cannot have confidence shaken in 'the system'. See recent Judicial scandal.
Geez, these days the lit market responds instantly to the entry of a blind/dark centrepoint order that doesn't even get a fill and hence supposed to be impossible to know they exist and yet... someone knows.
There are rules but apparently loose and open to interpretation.
