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A floor broker also known as a “pit broker” is an independent member of an exchange who is authorized to execute trades for clients on the exchange floor Floor brokers are primarily active on.
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It turns out that there are many types of traders on the trading floor Here are the most prominent ones – Floor brokers Floor brokers are the most common type of traders They trade on behalf of clients A floor broker can be an employee of the company or an independent consultant.
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What Is a Floor Trader?
A floor broker can be A salaried employee of a brokerage firm who handles the orders of the said firm An independent professional who is employed by multiple brokerages and receives a commission for her/his efforts Retail clients rarely contact floor brokers directly.
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