A discount broker is a brokerage company that acts as an intermediary for securities trading and offers is used to offer its services for a lower commission fees. At the same time discount brokers provide less consultations, investment reports and market researches.
When discount brokers came in to the market they brought a lot of mess for traditional brokers which faced an increased competition. Most of the discount brokers have universal and practical trading platform and any investor that opens a brokerage account can trade stock and other securities online by himself without interference of broker’s employees.
However, in these days discount brokers get mixed up with traditional brokers. All the brokers now are offering online investing and all of them are trying to stay competitive. The introduction of discount brokers that became possible together with computerization has changed brokerage business. And winners should be those brokers that will offer the best services at reasonable prices (fees have to be low, but not necessary the lowest ones).
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