A broker is a corporation specialized in the trade of transferable securities.
To exert its activity, a broker must be registered at the COSOB. The latter applies for the registration of Brokers certain criteria relating to its competence, morality and capital base.
There are two types of Brokers: "full activity" Broker and "limited activity" broker.
In addition to providing order execution services, "full activity" Broker advises investors and provides portfolio management or investment services.
Limited activity broker provides only order execution services for its customers.
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