A brokerage house featuring relatively low commission rates in comparison to a full-service broker. Bloomberg Financial Dictionary
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See "broker."
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discount broker UK US noun [C]
► STOCK MARKET someone who buys and sells investments for their customers at a lower cost than a full-service broker because they do not provide investment advice: »
You can obtain a rebate of 3% or more on unit trusts if you buy them from a discount broker.
► UK FINANCE BILL BROKER(Cf. ↑bill broker)
Financial and business terms. 2012.