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Questions For Stock Brokers - Investment - Nairaland

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Questions For Stock Brokers by st1(m): 8:30am On Sep 10, 2007
@ stock brokers in the house,

I am new to stock investments and has just opened an account with a broker by telephone conversation of which I did not fill any form nor signed any doc.
Now
1- what are the information or docs. I need to request from him after opening the A/C.
2- I paid 200k to the firm a/c and ordered them to buy Mbenefit from the floor last week friday. What should I request from the broker though he is someone I know very well and stays the next street to mine.
Re: Questions For Stock Brokers by atilla(m): 8:33am On Sep 10, 2007
1.Statement of account, CSCS no

2. Contract note
Re: Questions For Stock Brokers by egoldman(m): 9:42am On Sep 10, 2007
Must one still request contract note even when he has cscs account and also have online access to his account via his brokerage firm ?
Re: Questions For Stock Brokers by Otunbakunl(m): 11:10am On Sep 10, 2007
egoldman, CSCS online access is not authomatic, shareholders must subscribe for they can have access to this. Even with online access to CSCS account, "Contract Note" is very important as this shows: 1. Stock Purchased or Sold, 2. price of transaction 3. all the charges on the transactions like, Stockbroking Commission, CSCS/NSE deductions, SEC deduction, VAT adn Contract Stamp. This also serves as an evidence that there is contract between you and the stockbroking house.

You can get this from your stockbroking house a day after the transaction, you can also print it from such stockbroking website if such facilities is available and enable.
Re: Questions For Stock Brokers by KingDavids: 11:43am On Sep 10, 2007
I subsribed to the first bank IPO and the only document i have today is only the payment voucher.
Now my question is (1) what are the processes of engaging a broker(2) what documents are expected from myself/broker
(3)How soon do i get a share certificate from First bank(4) what is the cost of these transactions with a broker varying from managing my units and commissions?
Re: Questions For Stock Brokers by egoldman(m): 11:53am On Sep 10, 2007
Otunbakunl:

egoldman, CSCS online access is not authomatic, shareholders must subscribe for they can have access to this. Even with online access to CSCS account, "Contract Note" is very important as this shows: 1. Stock Purchased or Sold, 2. price of transaction 3. all the charges on the transactions like, Stockbroking Commission, CSCS/NSE deductions, SEC deduction, VAT adn Contract Stamp. This also serves as an evidence that there is contract between you and the stockbroking house.

You can get this from your stockbroking house a day after the transaction, you can also print it from such stockbroking website if such facilities is available and enable.

I actualy asked this question for my self , as i already have my broker and also have online access to my account on their website , i also have cscs account through them , so i asked this question just to be on the more of a safe side, for now , there has been no reason to think other wise with my broker , but i would still like to have the damn contract notes , so i would be asking them for it , thanks .

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