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What is a discount broker?

A discount broker is nearly synonymous with online brokerages as a result. A discount broker is a stockbroker who carries out buy and sell orders and charges little or no commissions for the service. Discount brokers don't provide the investment advice or guidance that's provided by full-service brokers.

Do you need a discount broker?

Historically, only wealthy individuals could afford a broker and access to the stock market. Discount brokers provide people from different financial backgrounds access to the stock market. Since discount brokers are primarily online-based, individuals seeking more personalized advice should consult a full-service broker.

Why should you use a discount stock broker?

• Variety. Another advantage of using a discount stock broker is the selection of investments to which you have access. That may include not only stocks, mutual funds, ETFs and bonds but you may also be able to buy IPO stock, commodities, or options.

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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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