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At the volume of retail though how impactful are those price improvements over the long run?

My gut tells me it can’t be much, but I have zero data to back that up on and would love to find some.



Not much, but it's not like trading is expensive these days. IBKR usually charges me 1 dollar per transaction, unless I trade many thousands USD worth of securities at a time. Improvements (of which there may be none) should be in the same ballpark.




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