You seem to be missing some zeroes on those ETRADE numbers. They...

You seem to be missing some zeroes on those ETRADE numbers. They had revenue in 2019 of 2.8 billion and earnings of almost $1 billion with 7.2 million traders onboard. Quite a bit different to your figures and a totally different business to Selfwealth who are budget online brokers who haven't made a profit yet.

That is the main point you are missing. Selfwealth don't earn much off each trade. With all the competitors coming like Thinkmarkets, superhero and marketech to name a few I think it'll be hard for Selfwealth to justify the $120M market cap they have now even if they become the second biggest online broker in Australia. Maybe they can but price is already too high for my risk appetite.