what are the differences between a 'broker' and 'dealer'?

Question

what are the main differences between these two?

thank you in advance

Answer 1

A Dealer is
An individual who acts as a principal or counterpart to a transaction. Principals take one side of a position, hoping to earn a spread (profit) by closing out the position in a subsequent trade with another party.
In contrast, a Broker is an individual or firm that acts as an intermediary, putting together buyers and sellers for a fee or commission.

Answer 2

The big difference is the Broker does not own the product, or service you are in the market for. . A Dealer sells his, or hers product, meaning Ownership. A Broker generally earns their income from A percentage or flat fee of what the product or service is. For example if you buy a House from Broker,they usually work for 6-8 % of the price of the house. They generally don't own the house, they "broker" the sale. Another easy way to look at it is simply the broker is the middle man. A seller>>Broker<< A buyer / A Dealer>> broker<< buyer