Definition of discount broker in US English:

discount broker

noun

  • A stockbroker or brokerage firm that charges a reduced commission on transactions but typically does not provide investment advice or other services.

    ‘whether you decide to deal with a full-service or discount broker, there are many options out there’
    Compare with full-service broker
    • ‘It's the cost of distributing funds - through financial planners, brokers, even discount brokers - that's rising.’
    • ‘Chelsea Financial Services became the UK's first discount broker nineteen years ago.’
    • ‘Sellers who use discount brokers don't always understand what they're getting into, Nelson says.’
    • ‘The discount broker's commission is much less than the traditional 6 percent charged by full-service brokers.’
    • ‘My personal preference would be to transfer my funds to a specialist discount broker.’
    • ‘But if you know what you want, you should buy your fund through a discount broker or fund supermarket.’
    • ‘There is a considerable advantage in less paperwork and time in using an on-line discount broker.’
    • ‘All the funds in my portfolios can also be purchased from many on-line discount brokers.’
    • ‘Like short-term investors/traders, day traders basically use online discount brokers to facilitate their trading.’
    • ‘In 1995 Schwab was the country's leading "discount broker" in an industry dominated by Wall Street giants.’