algoalpha examines quantitative models, algorithmic strategies, and the mathematics behind price behavior. All content is focused on understanding how systems work, why they fail, and how to reason rigorously about markets.
Zero-commission trading has transformed how millions of people invest. Platforms like Robinhood, Webull, and even traditional brokers now offer commission-free trades, making it easier than ever to buy and sell stocks without paying fees. But here's the reality: trading is never truly free.
While you won't see a commission charge on your account statement, you're still paying....
In 2012, a Canadian trader named Brad Katsuyama noticed something strange. When he tried to buy shares for his clients at Royal Bank of Canada, the price would mysteriously jump the instant he clicked "buy." The shares he saw available on his screen would vanish before his order could reach them.
What he discovered would eventually become the subject of Michael Lewis's bestselling book Flash Boys and spark one of the biggest debates .....