discount broker:
(plural: ‘discount brokers‘)
a person/broker who is paid to help in arrangements between buyers and sellers;
a stockbroker who gives discounts on commission fees, but do not give any personal advice or suggestions as to which market is good to invest,
Sharon Brooks, discount broker, Providence Realty Group, Gerogia
Financial experts are in the opinion that an investor needs a discount broker, but before choosing a discount broker, it is important to check on that brokerage reputation, probably through other investors.
An investor using a discount broker will be doing all his/her online trading him/herself through his/her discount broker’s platform and from time to time get in touch with their customer service for some advice or suggestion.
The most important point every investor should know before starting a trade transaction is that there is a difference between a discount broker and a full service broker. A discount broker charges as little as $5 for a trade and so does not do more than accepting a sell or buy option; but a full service broker, on the other hand, may charge as much as a $100 but takes care of researching the market, meets the client in person and acts like a financial planner!
