What are the pros and cons of a discount brokerage (such as Wealthsimple, Robinhood, etc.) compared to a more established brokerage (such as TD WebBroker, etc.)?
Why do companies such as Wealthsimple charge so much less in commission fees than big banks? Is it because the banks can get you more favourable stock prices when making trades?
Edit: The answer to the question What's the differences between a discount broker and a regular broker?, while helpful, doesn't go into as much detail about the advantages and disadvantages as I'd (preferably) like. It mentions investment advice but is that the only advantage of an established brokerage?