What is main difference between Broker and Dealer



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What is main 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