Stock broking firms which charges brokerage/commission as per percentage on turnover (buy value +sell value) are called traditional brokers
Stock broking firms which charges brokerage/commission at discounted rate are called discount brokers example: Rs. 20 /trade or paying brokerage upfront for unlimited trades.
A stockbroker who carries out buy and sell orders at a reduced commission compared to a full-service broker, but provides no investment advice,
A traditional broker will provide a full fledged services like PMS, Advisory/Tips , Mutual Funds, Insurance (General & health), customer Support & Call & trade etc.
Where has discount brokers do provide services like Customer Support, call & trade facility, Mutual Funds etc but not the Advisory or PMS services. All these services provided through online unlike the traditional brokers.
Traditional Broker who following trend since many years.
Discount Brokers who have very low brokerage and different way like Rs 500 per month unlimited trading etc.