# Free Trading Isn't What You Think It Is (Wall Street CEO Explains)

Page: https://stenobird.com/podcast/founder-s-story-648906/free-trading-isn-t-what-you-think-it-is-wall-street-ceo-explains
Text version: https://stenobird.com/podcast/founder-s-story-648906/free-trading-isn-t-what-you-think-it-is-wall-street-ceo-explains.md
Podcast: [Founder's Story](https://stenobird.com/podcast/founder-s-story-648906)
Published: 2026-07-01T16:26:26+00:00
Episode link: https://bleav.com/shows/founders-story/
Audio file: https://clrtpod.com/m/pscrb.fm/rss/p/mgln.ai/e/1184/afp-969439-injected.calisto.simplecastaudio.com/a7765f3f-02e4-4ded-bca1-01a20b7f82a5/episodes/000debb8-cbc4-4226-9668-b2a6a7802e9b/audio/128/default.mp3?aid=rss_feed&awCollectionId=a7765f3f-02e4-4ded-bca1-01a20b7f82a5&awEpisodeId=000debb8-cbc4-4226-9668-b2a6a7802e9b&feed=NVPdHs07
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Duration seconds: 1323

## Resource

Daniel Robbins sits down with Daniel Schlaepfer, President and CEO of Select Vantage Inc., to unpack the hidden mechanics of modern trading, from “free” trading apps and off-exchange market making to funded trader programs, AI, and why human judgment still matters. Daniel shares how a random subway newspaper ad changed his life, how he rebuilt a trading business from the wreckage of a failed firm, and why his company’s regulation-first culture helped create one of the strongest risk and compliance platforms in the industry.

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## Transcript

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