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Cashcraft - Thieves Or A Broker - Business (3) - Nairaland

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I Am A Forex Rookie Please I Need Help In Choosing A Broker.. / PIX. See What Thieves Did To My Laptop / Phone Shop. / Be A Broker And Earn Big For Your Self (2) (3) (4)

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Re: Cashcraft - Thieves Or A Broker by jimmyjam: 10:42am On May 23, 2008
cashcraft is o.k i give then 60% out of 100% because there have been some good reports and there have been some bad reports. but what really needs to be done is a major overhaul of the securities industy in nigeria as a whole. meaning the laws need to be created and guidlines given that allows EFCC to go after erring stockbrokers.
Re: Cashcraft - Thieves Or A Broker by jimmyjam: 12:11am On Jun 08, 2008
Some new reasons for delay are: when you give a broker a mandate to buy or sell (i.e you tell them to buy or sell) it takes betwen 1 to 7 days for the stocks to be bought the reason for this is because the buy or sell form has to be stamped with stamp duty and signed (with use of stamp) by about 2 or 3 officials each of NSE, SEC, CSCS etc and this is why it takes up to one week to buy or sell, by which time the profit you hoped for is gone.

this means that NSE, SEC, CSCS and possibly your broker are making huge gains from your money as a i speculated.
this only leaves you with the ability to make money via quaterly dividends and bonuses and if your lucky by the stock rising for a period of 3 months.
Re: Cashcraft - Thieves Or A Broker by jimmyjam: 12:36am On Jun 08, 2008
Reasons for delay in buying and selling stocks in nigeria are: when you give a broker a mandate to buy or sell (i.e you tell them to buy or sell) it takes betwen 1 to 14 days or more for the stocks to be bought the reason for this is because the buy or sell form has to be stamped with stamp duty and signed (with use of stamp) by about 2 or 3 officials from NSE, SEC, CSCS respectively and this is why it takes up to one week to buy or sell, by which time the profit you hoped for is gone.

This means that NSE, SEC, CSCS and your broker are making huge gains from your money as a i speculated.
this only leaves you with the ability to make money via quaterly dividends and bonuses and if your lucky by the stock rising for a period of 3 month

the solution to this is to make sure your broker has an automated tading system with direct computer network linkage to NSE and CSCS this way your trades can be executed real time and you can know immediately if a stock is available or not!

About 90% of nigerian brokers are still using paper forms, while 10% are using this ATS (automated trading system) so make sure you ask your broker if they are suing ATS to trade. Also make sure you sign up with cscs for an individual investor account . that way you can log on to cscs to confirm your trades, e-dividends, e-bonuses etc
Infact there are new regulations now that firsms must notify SEC, NSE about all bonuese and dividends so also check SEC and NSE website to monitor new subsequent dividends and bonuses.
Re: Cashcraft - Thieves Or A Broker by abujabooks(f): 3:51pm On Jun 14, 2008
Cashcraft has a good research system.

I would not use them because of appalling customer service.
Re: Cashcraft - Thieves Or A Broker by jimmyjam: 4:41pm On Jun 25, 2008
yes cashcraft has a good research and informations on dividend, bonus, AGM's etc once your registered with them.

they even has direct linkage to a GTB and UBA bank account which allows you to transfer money back and forth between your brokerage account and your bank account.

these are the reasons i would give them 60-70% out of 100%.
Re: Cashcraft - Thieves Or A Broker by ausdy(m): 1:56pm On Sep 23, 2009
CASHCRAFT FOR LIFE grin
Re: Cashcraft - Thieves Or A Broker by consultmartins(m): 7:33am On Apr 12, 2010
I think i have heard and seen enough.

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Re: Cashcraft - Thieves Or A Broker by DisGuy: 6:43pm On Apr 08, 2013
still alive?
Re: Cashcraft - Thieves Or A Broker by ekmike(m): 4:01pm On Dec 08, 2013
cash craft has been suspended, pls beware. dis is a big mess. jst wen I tot i shld become an active player in d stock mkt all dis starts hapenin.
http://businessnews.com.ng/2013/09/27/sec-suspends-cashcraft-asset-management-violating-trading-rules/
Re: Cashcraft - Thieves Or A Broker by Nobody: 10:53pm On Jul 18, 2014
Please house what is the Update about Cas Craft, I have some money with them. Thankl you
Re: Cashcraft - Thieves Or A Broker by Boldbode(m): 11:28am On Oct 07, 2014
please ,Is there any update ?
Re: Cashcraft - Thieves Or A Broker by Unomah: 4:05pm On Oct 27, 2014
Hello all! This thread has been kinda dry for sometime..... Maybe due to the decline in overall market performance as I can see that most of the discussions took place in 2008. The Capital Market is still very viable and has created entry points for value investing. There was a depression! Yes! Stock prices went southwards! Yes!. These still don't underscore the fact that a lot of people are still making it 'big' in the market. Take a look at shares of DangCem that traded below below N120 in 2008 and is currently trading above N220. Also, a closer look at the share price of Nestle will want to make you invest in the Capital Market. A stock that traded below N300 currently trading above N1000... now that's about 300% Return on Investment. No financial institution would have been able to afford that..... Still not convinced that the market is experiencing an up rise? Analysis carried out on market performance last year proved that there was an appreciable 45% increment over the preceding year's figure. For more information on the Nigerian Stock Market, kindly call Success on 07081181586. Have a lovely day.
Re: Cashcraft - Thieves Or A Broker by SteamBlue(f): 11:27am On Jun 21, 2016
When I first stumbled on this post about cashcraft, I thought it wasnt true but I have just had m own share. Just been defrauded by cashcraft and I can tell anybody now, don't ever attempt to invest your money with cashcraft otherwise, they will deduct your money and tell you it's prorated! A word is enough for the wise!

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