" >dealer, its goal is to profit through prices or spreads. As a result, traders typically place limits on how their orders are filled when they transact with
A financial intermediary that may function as a
" >dealer or as broker
, depending on the type of trade. When a client enters an order, broker
" >dealers can choose to broker
a deal with a counterparty, or buy or sell the security directly from the client.
However, there is an inherent conflict of interest. As a broker, it should seek the best prices for the client, but as a