Jul. 12, 2025
Thank you for the opportunity to comment on PFOF. I am an individual household investor. I am not a trader. I use a broker that charges $10 per online trade and $40 per trade to call it into the trading desk. Trades executed on some OTC markets may cost more. It is evident that regardless of cost per trade, many trades are being bundled and routed elsewhere through PFOF and used to manipulate price discovery and suppress a Company’s ability to raise capital at “true” market valuation. This in turn kills innovation and jobs. PFOF Brokers and Wholesalers do not represent my interests and I am powerless to really know whether my broker engages in this process. Where is the oversight of BD’s who charge per trade and engage in PFOF behind the customers back? There is concern that some brokers engaging in PFOF are abusing the information of household investors while charging for each trade to the benefit of Broker dealers, Market Makers, and clearing houses. Transparency is key to the protection of all investors. Regards, S. Anderson