discount brokerage firm

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Discount Brokerage Firm

A brokerage firm that provides transaction services predominantly or exclusively. That is, a discount broker provides clients with little or no research or investment advice; rather, it specializes in completing the transactions for which clients ask. Discount brokers usually rely on computer programs to find matching offers or bids. They charge lower commissions than other brokers and rely on a high volume of orders for a profit. See also: Deep Discount Brokerage Firm.

discount brokerage firm

A brokerage firm that discounts commissions for individuals to trade securities. Most discount brokerage firms offer limited advice but reduce their fees by 50% or more compared with full-service brokerage firms. Compare full-service brokerage firm. See also May Day.

Discount brokerage firm.

Discount brokerage firms charge lower commissions than full-service brokerage firms when they execute investors' buy and sell orders but may provide fewer services to their clients.

For example, they may not offer investment advice or maintain independent research departments.

Because of the information and online account access on most brokerage websites, differences between full-service and discount firms are less apparent to the average investor.

References in periodicals archive ?
Traditional and discount brokerage firms, however, appear to be only in the early stages of serving this market.
NEW YORK -- Corporate Insight, the leader in providing competitive intelligence, analysis, and consulting services to the financial services industry, announced today it has completed a landmark study that analyzes the customer experience opening cash management accounts at 20 leading full-service and discount brokerage firms, banks and mutual fund companies.
NYSE: ASC), a leading provider of technology-based outsourcing solutions to government and commercial clients worldwide, to provide the first combined front and back office solution for investment companies who sell their mutual funds through discount brokerage firms.
The company's OMS (Order Management System) software is currently being used by over 600 brokers at one large New York firm, and its Internet application, E-TRAN, is being used by two national deep discount brokerage firms to allow customers to place trades and access account information through the Internet.
Quick & Reilly, one of the nation's largest discount brokerage firms and a leading Internet broker, announced that effective immediately it will offer its brokerage clients free Internet access virtually anywhere in the U.
Quick & Reilly, a leader in Internet securities trading and one of the nation's largest discount brokerage firms, announced today the rollout of live, 24 hour online customer service with a broker.
NasdaqNM: PRME) -- a leading eMarketing visionary in the eCRM arena, today announced that Quick & Reilly -- one of the nation's largest and most successful discount brokerage firms and a FleetBoston Financial Corp.
NASDAQ,EASDAQ:PRME), a leading eMarketing visionary in the eCRM arena, today announced that Quick & Reilly - one of the nation's largest and most successful discount brokerage firms and a FleetBoston Financial Corp.
Phase3 is used in a service bureau, facilities management or in-house license environment by full service retail firms, institutional broker/dealers, discount brokerage firms, bank Section 20s, correspondent clearing firms, and ECNs.
Well known to professional investors for 16 years, the company distributes its services through more than 100 on-line vendors, including discount brokerage firms Ameritrade Holding Corp.
NEW YORK--(BUSINESS WIRE)--April 5, 1999--Quick & Reilly, one of the nation's leading discount brokerage firms, and Morningstar, Inc.
subsidiaries include one of the nation's largest discount brokerage firms, Quick & Reilly, Inc.