Broker is a professional market participant that carries out transactions with a particular set of tools either on behalf of and on account of the client, or in its own name and on the client's account on the basis of commutative contracts with the client.
A broker is a person or a legal entity licensed to conduct operations in the securities market on behalf of clients. Brokers are divided into three groups. The first group includes brokers who charge higher commissions and render the full range of services (full service brokers), including participation in IPOs and providing reports on the companies. The second group refers to brokers that offer a limited range of services (discount brokers or simply discounters) and charge average commissions, but do not provide all the services. For example, they do not provide recommendations on the purchase/sale of certain types of securities. And finally, there are deep discount brokers which basically only execute orders of clients who do not need additional services.
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