Foundation · Lesson 3
The Broker's Role
Your broker is not your friend, nor your enemy — they are a counterparty with specific incentives. Understanding those incentives is your first line of defense.
Author
Somchai Wattana, CMT
Peer reviewer
Elena Marchetti, Ph.D.
14 min readPublished March 22, 2026Reviewed April 12, 2026
Brokers route your orders — and profit from the spread. Know both roles.