What is difference between Broker and Dealer?



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What is difference between Broker and Dealer?

1 Answer(s)


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Broker:
-Executes customer’s orders
-Charges a commission
-Must disclose the amount of the commission
Dealer:
-Participates in the trade as a principal
-Charges a markup or markdown Makes a market in the security
-Must disclose the fact that they are a market maker, but not the amount of the mark-up or markdown

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