What is a Broker?
Last updated
Last updated
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A broker is a person who helps traders, sellers, or purchasers complete transactions. Consider a broker as a middleman who makes sure that everything goes smoothly and that everyone has the information they need. The Broker simply trades on your behalf.
Brokers can generate revenue in a number of ways. The most popular approaches are mark-up fees, commission fees, and advising fees (also called spreads). Within the context of Fuel Switch the Brokers generate revenue through commission fees that is set by the user. Commissions represent a portion of the total sale. For instance, if a Broker had sold RECs on your behalf, the Broker would get 5% of the money depending on the commission percentage that was set by the user.