I opened an acct with a broker and paid N50,000 for stocks purchase, i was bought stocks worth N42,950
from d Alert i got from NSE-CSCS. Does anyone know how much i ought to pay as total commission to buy stocks of that value? again, what is the total percentage charged for buy deals and that of sell deals?

the total % should be a maximum of 5%, so u shouldn't be charged more than 2500,

Ask your stockbroker to give you the details of the transaction

ObamaUS:

the total % should be a maximum of 5%, so u shouldn't be charged more than 2500,

The 5% should be for buying and selling i suppose?

the 5% is the commission charged for buying and selling

Find out details from your broker it is either you have some money left in your account or the shares were bought at higher prices than what you are using to calculate now, you know the bears are back now, just ask for transaction details. It is about 2.5% buying and 2.6% seliing all charges inclusive, so you have to buy and sell the same stock to get charged +- 5%

detopshot:

I opened an acct with a broker and paid N50,000 for stocks purchase, i was bought stocks worth N42,950
from d Alert i got from NSE-CSCS. Does anyone know how much i ought to pay as total commission to buy stocks of that value? again, what is the total percentage charged for buy deals and that of sell deals?

Detopshot can you kindly link me up with your broker. I need a broker urgently. Thanks

@freshmoney, u can contact KAPITAL CARE AND TRUST SECURITIES, call daniel on 08033771392

total charged for a buy order executed is 2.36% while that of a sell order is 2.63. totaling 4.99. this charges have been reviwed downward but are yet to reflect on the new transactions as brokers are still negotiating with the NSE and SEC. ask your broker for what is called an in-house account statement. its usually printed on demand

this is the charge structure for all brokers in nigeria for every standard buy and sell transaction
BUY SIDE SELL SIDE
SEC FEE = 0.30% NSE FEE= 0.25%
COMMISSION =1.35% COMMISSION =1.35%
STAMP DUTY=0.075% STAMP DUTY=0.075%
CSCS TRADE ALERT=0.06% CSCS TRADE ALERT=0.06%
CSCS TRnsaction fee=0.3%

TOTAL=1.785% TOTAL=2.035%

this is max any broker will charge you for a stardard service of buy and sell. anything above is is fraud

let me add that the percentage is of what they buy for you or sell for you. pls always requet for your contract note after every transaction. thanks

HI NAIRALANDER,

I NEED INFO ON 1ST BANK SHARE, ARE THEY DECLARING DIVIDEND AND WHEN?, ANY BONUS ISSUE & @ WHAT RATE? WHEN ARE THEY CLOSING THEIR BOOK FOR LAST YEAR AUDITED ACCOUNTS?

UR RESPONSE WILL BE HIGLY APPRECIATED PLEASE!!!

For me they charge 3% when am buying and the same when am selling.As for the poster you need to ask your broker how much they're charging you and sometimes when you order for a stock,take for example like today,the price must have changed as at when it's been bought most especially when you don't buy it the same day you signed the mandate.

The same thing happened to me when I first started trading back in 2007,I went charging to their office,but they told me to calm down the balance was in my account with them,that was what they were able to buy for me. So check your extra money should be in your account with them in cash !