Which characteristic is true for brokers in financial markets?

Brokers in financial markets primarily function by acting on behalf of their clients to facilitate trades and investment transactions. This role involves executing buy or sell orders for clients and ensuring that these transactions are carried out at the best available market prices. They earn a commission for their services, which reinforces their position as intermediaries between buyers and sellers.

This characteristic is essential because it highlights the broker's obligation to represent the interests of their clients rather than investing their own capital. Unlike dealers, who take positions in the market and can profit from price changes, brokers focus solely on the client transaction and the associated commission.

The other characteristics, such as taking positions, offering prices based on market trends, or acting without client orders, do not accurately reflect the fundamental role of a broker, which is to act as a facilitator and advisor in the trading process. As such, the correct understanding of a broker's function in financial markets is best captured by recognizing their role in executing trades for clients in exchange for a commission.