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What is the difference between a broker and a dealer?

Sometimes they act as a broker. This means they help clients buy or sell a security, like a stock. As a middleman, they help you buy the shares from whomever is selling them, and in return you pay a brokerage commission. At other times, they act as a dealer. This means they are actual participants or principals in a sale of securities.

Are discount brokers better for self-directed investors?

Discount brokers are better suited for self-directed investors who are willing to do their own research if it means they'll be charged less for each transaction. How Does a Broker-Dealer Work? Broker-dealers work as both brokers and dealers.

What's the difference between a full-service broker and a discount broker?

Full-service brokers can help you create a financial plan and decide what investments to buy. Discount brokers can offer trading services at a low cost. Full-service broker-dealers may charge high fees for ancillary services beyond trading. Discount brokers usually don't provide investment guidance.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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