Discount Broker is a type of stockbroker who help clients buy and sell shares at a reduced or fixed rate. Unlike full-service brokers, Discount Brokers do not provide investment tips or analyses to their clients. They just provide a trading platform through which the clients can buy and sell the shares as per their preference.
Discount Brokers are most suitable for independent traders or investors who do not want to depend on others for tips or investment advice. Investors or traders who are actively trading on a regular basis mainly choose to go for Discount Brokers as Discount Brokers charge lower brokerage or fixed brokerage.