Because they are mobile internet companies that choose brokerage as a business model, rather than a brokerage choosing mobile internet as a channel.
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Futu is one of IBKR’s institutional customers. Majority of the more difficult-to-build functionalities that require domain knowledge sit in IBKR’s infrastructure. It’s easy to build Futu or tiger, but not easy to build IBKR. Look at what happened to Robinhood.
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