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All the discount brokers will go back to charging $5 trade. Will be a big loss for retail investors.

> Will be a big loss for retail investors

You mean it will be a big loss for retail traders

If you’re investing monthly or dollar cost averaging into a position. Those $5 per trade add up.

Careful, you might turn into a Boggle-head if you follow that logic too far...

Fidelity doesn't get paid for order flow, and it has $0 trades.

Fidelity sells access to their dark pool which is default execution for orders at their brokerage. They make money off their order flow just like RH.