Broker
شركة السمسرة
A broker is a licensed firm that executes buy and sell orders in the market on behalf of investors in exchange for a commission. In Egypt, brokerage companies must be licensed by the Financial Regulatory Authority and be members of the Egyptian Exchange to trade on it. Investors open a trading account and a unified investor code through a broker before placing orders.
Example
You place an order with a licensed brokerage, which routes it to the exchange and, once executed, arranges settlement. The shares are registered to you centrally rather than held in the broker's name.
Why it matters
A broker is the only route a retail investor has to the exchange, and the licence is what makes that route supervised. Commission and the quality of execution are both part of what you are paying for.
A common mistake
Choosing purely on commission. The lowest published rate is not the lowest total cost once minimum charges, execution quality and the reliability of the platform are included.