A broker is a party that mediates between a buyer and a seller. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Distinguish agent: one who acts on behalf of a principal. A "brokerage" or a "brokerage firm" is a business that acts as a broker. A brokerage firm is a business that specializes in trading stocks.^[1] A sales person working for a securities or commodity brokerage firm is popularly (but incorrectly) called a "broker." A broker in that context is, strictly speaking, an exchange member who is actually executing the purchase or sales order in the 'pit', on the exchange, as a service to the client of the firm for which that salesman works.

[edit] Types of brokers

• Aircraft broker
• Broker-dealer
• Business broker
• Commodity broker
• Contract Hire Broker (see Business Contract Hire)
• Customs broker
• Deep discount broker
• Forex Broker
• Insurance broker
• Investment broker
• IT broker
• Joint venture broker
• List broker
• Low cost broker
• Marriage broker
• Mortgage broker
• Options broker
• Power broker (term)
• Prime broker
• Product broker
• Real estate broker
• Retail broker
• Ship broker
• Sponsorship broker
• Stock broker
• Yacht charter brokers

[edit] References