Broker is an individual or firm that charges a fee for executing buy and sell orders of an investor. A full-service broker provides a large variety of services, including research and advice. Discount brokers offer web-based platforms, without research and advice. Clients are charged a flat fee for each trade, irrespective of its value. Full-service brokers charge fee as a percentage of the total turnover. For the cash market, rates vary between 10 paise and 30 paise for delivery-based trades, and below five paise for intra-day trades.