Deep discount broker,
Definition of Deep discount broker:
A deep discount broker is an agent who mediates trades on exchanges between securities buyers and sellers at even lower commission rates than those offered by a regular discount broker. As one might expect, deep discount brokers also provide fewer services to clients than standard brokers; such brokers typically provide little more than the fulfillment of stock and option trades, charging a flat fee for each.
A brokerage firm offering very low fees, typically in exchange for little more than order execution and do-it-yourself investor resources. Deep discount brokers are most often Internet-based services, although a few brick and mortar stockbrokers also offer a deep discount option. Compare to Discount Broker; Full Service Broker.
Full-service brokers are licensed financial broker-dealer firms that provide a large variety of services to its clients — including research and advice, retirement planning, tax tips, and much more. All brokers will execute trades for their clients, but a full-service broker will also research various investments and give advice.
How to use Deep discount broker in a sentence?
- Deep discount brokers also provide fewer services to clients than standard brokers; such brokers typically provide little more than the fulfillment of stock and option trades, charging a flat fee for each.
- With the advent of online trading, deep discount brokers have grown in popularity. Deep discount brokers may even offer other services besides equity trading, such as the ability to write checks on the account, execute trades over the phone, or the availability of research information about stocks, bonds, and mutual funds.
Meaning of Deep discount broker & Deep discount broker Definition