The fee paid to a
broker to
execute a
trade, based on number of
shares,
bonds,
options, and/or their dollar value. In 1975, deregulation led to the creation of discount brokers, who charge lower commissions than full service
brokers. Full service brokers offer advice and usually have a full staff of
analysts who follow specific industries. Discount
brokers simply
execute a client's
order -- and usually do not offer an opinion on a
stock. Also known as a
round-turn.