When new long-term securities are sold for the first time, it is called primary market. In the primary market, the companies directly issue the securities to the investors. The primary market is used to establish a new business or expand the existing business ventures.
Primary capital market hires investment bankers who secure commitments from large institutional investors.These guys are the ones making indirect investments.
Small investors are unable to buy securities because the company and its investment bankers prefer to sell all of the available investments as quickly as possible to meet the required volume.
Their main focus is on marketing the sale to large investors who can buy more securities at once.
The secondary market is secondary. Here formerly issued securities are bought and sold.
Small investors have a better chance of buying or selling securities in the secondary capital market because they are no longer prohibited from the IPOs due to the small amount of money they represent.
The convenient thing about the secondary market is that anyone irrespective of the amount of money he has can buy the securities. They should just be able to pay the investment amount to secure their securities.