The spelling of the word "broker" is a result of the English language's complex orthography. The word is pronounced /ˈbroʊkər/, with the first syllable 'bro' rhyming with 'go' and the second syllable 'ker' rhyming with 'her'. The spelling of 'broker' includes the letter 'k', which is not strictly necessary since the sound represented by 'k' is already present in the letter 'c'. However, the 'k' was added to the word's spelling in the 16th century as a way to show its French origin.
A broker is a person or entity who acts as an intermediary between two parties involved in a financial transaction. They facilitate the buying and selling of various assets, including stocks, bonds, commodities, currencies, insurance policies, and real estate properties. The primary role of a broker is to connect buyers and sellers, often using their expertise and market knowledge to help both parties achieve their objectives.
Brokers usually work on behalf of their clients and are responsible for executing their orders. They may offer advisory services, providing insights and recommendations to assist clients in making informed decisions. Additionally, brokers are expected to maintain confidentiality and act in their clients' best interests.
Brokers can be classified into various types, such as stockbrokers, insurance brokers, real estate brokers, and mortgage brokers, depending on the industry in which they operate. They are regulated in many jurisdictions to ensure compliance with specific legal and ethical standards.
The role of brokers has evolved with technological advancements, and online brokerage platforms have become prevalent. These platforms allow individuals to trade directly in financial markets without the need for a physical broker. Despite this, brokers still play a vital role by offering specialized services, personalized advice, access to financial markets, and leveraging their network of contacts.
Overall, brokers play a critical role in facilitating transactions across a wide range of industries, acting as intermediaries and advisors to help ensure smooth and efficient financial operations.
One employed by merchants to buy and sell for them; one who deals in second-hand goods.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
The word "broker" originated from the Middle English term "brocour", which came from the Anglo-Norman French word "broceur". This French term was derived from the verb "brochier", meaning "to broach" or "to trade". The word "brokage" appeared in English during the 14th century, referring to the fee or commission charged for arranging or facilitating a trade. Over time, "broker" evolved to describe a person or entity that acts as an intermediary, facilitating transactions between buyers and sellers in various industries.