Brokerage firms are financial institutions that help you buy and sell securities. They act as an intermediary between the buyer and the seller. Depending on the brokerage firm that an investor or trader chooses, orders could be placed through telephone, internet, or smartphone. Here trades mean buying and selling shares, derivatives instruments, mutual funds, IPO, etc.
Brokerage firms may charge per buy, sell, or lot per order basis. When an order is placed through the call and trade facility of a broker, then it could be more expensive than per order or per lot per order basis. An order placed through call and trade is an assisted order system where an executive of the brokerage firm places demands per the directions of an investor or trader.
Full-Service Brokerage Firm
A full-service brokerage firm provides various financial services, including brokerage, customer service, research, advisory, and other related services. Additional services may include wealth management, portfolio management, financial planning, etc.
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