UK Accounting Glossary
A deep discount broker is a financial professional who executes stock trades at highly nominal commission fees. The services of a deep discount broker are extremely limited. A deep discount broker will typically go no further than implementing basic securities and option trades. Thus, a deep discount broker may not be a viable alternative for investors seeking financial advice or a broker recommendation. Usually, a deep discount broker charges a constant fee for trades of all sizes. Though, the greatest benefit of working with a deep discount broker is paying an extremely reduced commission rate. Hence for some, a deep discount broker offers a more cost-effective alternative to higher-priced full-service brokers. Today, the World Wide Web is a primary source of deep discount broker solutions.
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This glossary post was last updated: 7th February 2020.