Brokerage margins: What does the 12% brokerages offer that a 7% brokerage doesn’t?


The general use is to just do some basic SPY wheeling. For context, I personally don't care if:

  • Brokerages selling my order flow.
  • Brokerages “shutting down” a stock while it's meme peaking (I don't put serious money into meme stocks).
  • A brokerage has on-the-phone customer service.

(I realize other people care about these factors, and I'm not saying they are unimportant in general. They are just unimportant for me atm.)

These factors aside, what am I giving up going with Robinhood vs Fidelity (which seems to be a very well-liked brokerage)?


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