Silicon Valley start-up Robinhood may have turned the stock-trading business on its head, but the old-school brokers are fighting back. Slashed trading commissions, new offers such as fractional trades, as well as record market volatility, helped incumbents Fidelity, Charles Schwab, TD Ameritrade, E-Trade and Interactive Brokers capitalize on a new class of retail investors. Most notably, trading revenue isn’t taking the hit so many on Wall Street expected when major brokers announced they would no longer charge for trades. In fact, all the major brokers, expect Charles Schwab reported record trading revenue in the ... (full story)