Brokers, Dealers and Remisiers - What's the Difference?

The next step, after you have decided on the shares to buy, is to look for an agent.There are three classes of agents in the Singapore context.

The Stockbroker

First there is the stockbroker who is a beneficial owner of a stockbroking house that is affiliated to the Stock Exchange of Singapore. The stockbroker must also hold an SES seat.

The Dealer

Next there is the dealer who is a full-time employee of a stockbroking house. He receives a monthly salary plus a variable bonus that is usually based on his performance and the profits of the stockbroking house.

The Remisier

Then there is the remisier, a self-employed individual attached to a broking house whose income is based on the commissions on trades that he handles. The remisier rents a working space from the broking house, making use of its administration services for a fee, and places a security deposit with the house as well as guarantees payment from his clients.


These agents provide similar services for you. They look for a seller if you want to buy shares or a buyer if you want to sell shares. They are market traders, buying and selling shares in the same way as anyone would buy or sell any commodity.


Ask your friends or visit exhibitions and the various brokerages for introductions to agents. Arrange to meet them at their trading rooms and have a chat with them before you decide to deal, or use their services. Personal rapport and mutual trust is important. You are entrusting the agent that he will provide good service and advice; your agent must trust you too that you will keep your word and pay up. Remember that you are entitled to good service, however small your trades; after all, you are paying for service when you pay commissions.
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