Business, Legal & Accounting Glossary
A broker is someone who has a license to transact stocks, bonds, commodities, or real estate.
n. in general, a person who arranges contracts between a buyer and seller for a commission (a percentage of the sales price).
These include real estate brokers (who have responsibility over an agency and its sales agents as well as their own conduct), insurance brokers (handling more than one company rather than being an agent for just a single carrier), and stockbrokers, who are the upper-level of stock salespersons and/or the operators of brokerage houses. Brokers in the more technical fields (as above) are regulated and licensed by each state and have a “fiduciary” duty to act in the best interests of the customer. Consumers should investigate whether the broker is representing the customer’s best interest or just wants to make a sale. A “pawnbroker” is a lender for items left for security (“hocked”) at high rates.
A brokerage is a firm that hires brokers. A retail brokerage provides services to individuals, Some brokers specialize in providing service to institutional investors. Some brokers own a seat on the New York Stock Exchange.
Bond
Brokerage account
Commodities
Discount broker
Full-service broker
Mortgage broker
Real estate
Seat on the New York Stock Exchange
Stock
Stock broker
An individual or firm which acts as an intermediary between a buyer and seller, usually charging a commission. For securities and most other products, a license is required.
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This glossary post was last updated: 21st November, 2021 | 0 Views.