An exchange is like an association. All traders are members.

Anyone who wants to become a distributor must apply for membership.

Generally, there are many member units in an exchange, and the products they operate are different according to the company category.

Agents are branches of dealers scattered all over the country, which are used to open up markets for dealers and safeguard customers.

Take China Gold and Silver Exchange as an example: China Gold and Silver Exchange is an exchange with many member units: AA, A 1, A2, B, C, D and S, among which AA, A 1 and C members are qualified for spot gold trading. Like Liu Fu Jewelry, it belongs to a B-class member and can trade physical gold and silver.

I think you can understand. I hope it helps you. I hope it can be adopted. thank you