Everything on Fintech

The ban on Payment for Order Flow (PFOF) will force a fundamental shift in how neo-brokers monetize their platforms, moving away from hidden exchange rebates toward transparent fees or integrated banking services.

Impact: Potential increase in explicit trading fees for retail investors and a consolidation of the broker market.

— from Geopolitical Volatility, AI Regulation, and the Neo-Broker Landscape · Deffner und Zschäpitz – Der Wirtschafts-Talk von WELT· Apr 21, 2026