What is a broker?

A broker or a brokerage is the company who buys and sells stocks for you at the exchange. Because day trading requires fast order execution, you really must use what is called a direct-access broker. Conventional online brokers (also known as full-service brokers) provide considerably more investment advice, tax tips, retirement planning and such, but generally do not offer the necessary fast order execution, and are therefore more suited for investors and retail swing traders.