Brokerages that typically charge less than full-service brokerages because they do not offer investment advice from analysts and brokers. Typically, discount brokers buy and sell stocks for their customers without recommending choices. Some may offer general investment advice, news or other services.
A firm that buys and sells investments for the public without giving any advice (in contrast with a full-service brokerage, which executes trades and provides advice). A discount brokerage typically charges lower commissions or trading fees than a full-service brokerage.
A brokerage which executes buy and sell orders at commission rates lower than a full-service brokerage, but which typically provides fewer services such as research and advice.