Trading glossaryReviewed 16 July 2026
Definition
A broker is a regulated intermediary that receives or executes customer transactions in financial instruments and may provide custody or related account services.
In market context
A broker can route an order to an exchange, market maker, or other venue, and may act in different capacities depending on the product and transaction. Services, protections, conflicts, fees, and execution duties vary by jurisdiction and account agreement. Customers should verify authorization, understand how assets and cash are held, and distinguish a broker from an exchange, adviser, issuer, or unregulated platform.
Source
Use the primary source for fuller regulatory or market context.