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A stockbroker is a licensed financial professional that facilitates transactions between buyers and sellers. The majority of stockbrokers today work for brokerage firms and help millions of retail and institutional investors with their transactions. 

Stockbrokers may also be known as investment advisors or registered representatives. Today, stockbrokers’ pay is mostly based on commission. Among stockbrokers, there is also a difference between full-service brokers and discount brokers. The difference is that the latter execute trades but do not offer investment advice.

Today, most online brokers are discount brokers as they charge clients a set commission for executing trades. However, more and more discount brokers are starting to offer premium services that are based on higher fees. 

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