||Brokers are called as agents as they play a role of inter-mediator between a buyer and a seller for carrying out the transactions.
||Dealers are called as the market makers for the securities he neither conducts business on behalf of his clients.
||Broker is a person or firm that acts as a financial intermediaries in secondary market who handles the buying and selling of securities in the secondary market.
||A dealer is a person or firm who will buy and sell securities on their own account, whether through a broker or otherwise.
||Brokers charge commissions for their services on every deal which is usually a percentage of the actual transaction amount.It does not matter whether the deal has a positive or negative impact on his clients. His commission is ensured as a percentage share in the trading amount.
||A dealer does not get any commission as he does the deal on his own behalf. His earnings are the amount of profit he makes in the deal. As he deals in the transfer of assets, he must have his own assets which he can download at a later stage if required.
||Brokers have generally restricted freedom and rights in comparision to dealers.
||Dealers have generally more freedom and rights in comparision to brokers.
||Brokers does not require any special knowledge and experience.Brokers acts as a facilitator as they only deals on behalf of his clients.He is not responsible for the decisions taken by his client.
||Dealer need to have special knowledge and more experience because they have more responsibilities Many dealers had been brokers earlier in their lives and after gaining a certain amount of experience they have graduated into dealers,
||In case of assessibility whenever a person wishes to deal in the stock market the first person he contacts is the broker who deals for the client and he is also sometimes referred to as the agent.
||In case of assessibility, a dealer need not be accessible to the public,however any person can directly deal his shares with the dealer without going to the broker .
||The broker has to abide by the guideline laid down by the controlling authority.
||The dealer too has to abide by the laid down rules but he has certain additional responsibilities too.