udezij:


Hi NBA,i have seen your post, it is interesting.Can you give me a good stock broker,which i can use to buy share and which bank should i use though i use UBA.Is there anyway i can open an Account for N50,000 or N100,000.

Hope to hear from you

Hi @Udezij
Your location says u are in Nigeria, if so, you are spoilt for choice to which bank or broker to use. I hear GTB has the best customer service so you may consider them if their locations work for you. A broker for N100K, there are several so do ask around for recommendations. On-line access is high on my requirement so I will suggest Cashcraft as they have very good on-line account management and a useful website. They will accept N100,000 to open an account, I heard they will accept less but customer service is spotty, worse if you do not get a good account manager.

Hope this helps.

Hi NBA,i am currently in Wales,Uk for study so how do i buy shares

NEED YOUR HELP MY BIG BROTHERS NSE'S GURU
I GOT AN INVESTMENT WITH IBTC(EQUITY FUND),THAT I STARTED EARLY THIS YEAR
I GOT MORE 1M IN MY PORTFOLIO,I STARTED WITH 900K AND BY NOW I HAVE GOT
MORE THAN 40% ON IT.BUT I WANT TO BE A PART TAKER IN THIS P.O AND I.P.O(BAGCO).
DO YOU ADVICE ME TO WITHDRAW 1M FROM MY PORTFOLIO TO INVEST IN BAGCO AND BANKPHB
BECAUSE I DONT HAVE PEPPER AT THE MOMENT.I NEED YOUR SOLID ADVICE MY BROTHERS BECAUSE
I JUST STARTED.

udezij:

Hi NBA,i am currently in Wales,Uk for study so how do i buy shares

OK, I was thrown off by the location.

To buy shares you need a stockbroker, though not required for PO/IPO's, I think its the way to go. There is a lot of information on this thread if you read through it and more on the Stockmarket tips for Nigerians in case you haven't discovered it. https://www.nairaland.com/nigeria/topic-31554.0.html

If you already have UBA, the NRN product is cool.  Some here have the whole UBA suite, banking and stockbroking and it works well for them though they need N250K to open the account.

Hello Everyone,

I just learnt that Diamond Bank has it own Stock Brokers -Diamond Bank Securities. Please has anyone used them ?

http://diamondbanksecurities.com/

Hello All,

Is there any Vetiva client who has been requested to forward "TELEX STATEMENT" in
order for Vetiva to be able to track funds he/she transfered into Vetiva's Domicilliary account?

I have been requested to provide and I dont quite understand it.

Regards

@NBA
hope you are well and haven't given up on Diamond Bnk yet, I havent' been able to login yet but i am still optimistic. I am told that my debit card would be sent by another post. Its all good -nmy training in patience!!

You mentioned sending money to your stock broker by paying (wiring) into his Citibank account in the states using the official exchange rate. Please I need to know how to get this official rate. Is there a website that would give this information?

@etin,

You can use this link below to get the official rate.

http://www.cenbank.org/rates/ExchRateByCurrency.asp?CurrencyType=$USD

Check the "SELLING" column for the rate.

Panadol:

@etin,

You can use this link below to get the official rate.

http://www.cenbank.org/rates/ExchRateByCurrency.asp?CurrencyType=$USD

Check the "SELLING" column for the rate.

Thank you very much.

@etin

May i warn you that you have to check the rate the bank is using, i have been stung once by UBA. Their "official" rates are not the CBN rates but interbank rates.

I once transferred money after checking the CBN rate on the CBN website it was N251 at the time however a rate of N247 was applied to the transfer when i queried this, i was informed they do not necessarily have to buy from CBN rather they used the interbank market and this rate happened to be lower at the time

So check the actual rate before you transfer any funds in order to avoid any surprises

Ciao

@ Etin

If you have a DOM account in the same bank as your broker, the best thing would be to ask your Relationship Officer for the exchange rate on the day you want to transfer fund.

The other option would be to ask your broker for the exchange rate, the day the foreign payment was received by them: I am of the view that your broker's account with Citibank is a DOM account.

Diamond Bank seems to have better exchange rate than UBA.

In the PHB PO, they said payment must be by check or bankdraft: Name in check should be same as name in application. Does this mean we have to send checks to brokers?

@Man Jiro

Thanks I stumbled unto Diamond Bank's rate and used it. It was bettere than CBN for today and just informed the Brokers what I did. It seem they have accepted it. I paid into their Barclays account over here and emailed a scanned evidence of the payment.

@Obamedo

Thanks you are so right I did realise there where various rates until I asked. I would appear that as long as i can pay pound in a UK Bank it would always be better than Moneygram or Western Union as you save the charges and get about the same rate.

@etin

Exactly what I have been saying, I do not use western union or moneygram, Its much better to have account to account transfers anytime and its even cheaper
You just need to shop around and be careful not to assume your bank uses the CBN rate

What rate did Diamond bank use for £ today?
The CBN rate as of today is N241.79 to the £

I dare not ask what the UBA rate is

@ Etin

Having a broker that has an account with Barclays sounds very convenient: am planning to limit online international fund transfers. Which broker(s) have Barclays accounts?

@ManJiro

Futureview, they have several over here but Barclays was more suitable for me as I have an account with them too

@ Etin

Cheers

http://www.investordelight.com

Useful tool/site for portfolio valuation and refreshed daily and frequently during the working day

help me:

NEED YOUR HELP MY BIG BROTHERS NSE'S GURU
I GOT AN INVESTMENT WITH IBTC(EQUITY FUND),THAT I STARTED EARLY THIS YEAR
I GOT MORE 1M IN MY PORTFOLIO,I STARTED WITH 900K AND BY NOW I HAVE GOT
MORE THAN 40% ON IT.BUT I WANT TO BE A PART TAKER IN THIS P.O AND I.P.O(BAGCO).
DO YOU ADVICE ME TO WITHDRAW 1M FROM MY PORTFOLIO TO INVEST IN BAGCO AND BANKPHB
BECAUSE I DONT HAVE PEPPER AT THE MOMENT.I NEED YOUR SOLID ADVICE MY BROTHERS BECAUSE
I JUST STARTED.

@help me
It is a tough question for someone to answer as it depends on a lot of factors. The Equity fund @ 40% is less risky, for those of us abroad 40% is actually a fantastic return. However, the potential to make more from the PO's you mention is there. I suggest you browse through the Stockmarket tips for Nigerians thread for more info - the feeling there is the Bank PHB offer is a very good one.

Etin:

Hello Everyone,

I just learnt that Diamond Bank has it own Stock Brokers -Diamond Bank Securities. Please has anyone used them ?

http://diamondbanksecurities.com/

I am guessing they are new, they are not yet listed on the SEC list of current market operators. http://www.sec.gov.ng/cmocurrentlist.htm

Etin:

@NBA
hope you are well and haven't given up on Diamond Bnk yet, I havent' been able to login yet but i am still optimistic. I am told that my debit card would be sent by another post. Its all good -nmy training in patience!!

You mentioned sending money to your stock broker by paying (wiring) into his Citibank account in the states using the official exchange rate. Please I need to know how to get this official rate. Is there a website that would give this information?

@Etin,
I dey O, I don tire for Diamond Bank, nothing yet! I will send another email.

I see the question about the rates have been answered. I sometimes use XE.com or yahoo currency.

@NBA

e reach to tire o. Who is your contact? Try calling the customer service number I have found it very useful and response are quick. My contacts have been

Isi and Olajumoke

could anyone advise on a bank to use from Scandinavia without problems and I could be able to buy shares from and send cash to folks in naija through the naija account I open?

Abeg people, help a brother out . . .


Any vetiva client here ever transfered funds to vetiva tru their Domicillary account?
I transfered a hefty sum since Tuesday (using same day UK service) and they are
yet to acknowledge receipt.

Cheers

Hey People,

Do you know if stock brokers are allowed to buy PO on your behalf, like you send them the money and they fill your details in with your cscs number

How do you go about buying Public Offers that require bank draft/cheques like the BankPHB offer?

Etin:

@ManJiro

Futureview, they have several over here but Barclays was more suitable for me as I have an account with them too

Hi Etin,

How much does Futureview charge as account opening deposit?
I'm considering of joining them.

@bjluv,
Hej!

Use UBA NRN/Brokers. I live in Germany and this is the way to go for now. 350K for starters!1 stop shop. Read thru this thread. I just registered and the Service is very satisfactory. Blitz fast email correspondence and happy customers, Email NRN <NRN@ubagroup.com> for more details. Thanks to this thread I didnt sign up with CSL.

Ask Tonyjon and Naijadr:-)

tosjay:

Hi Etin,

How much does Futureview charge as account opening deposit?
I'm considering of joining them.

500000 naira I was told but please note my dealings with them were as the issuing hose for some shares I wanted to buy. On that level I was very pleased. As far as getting an account with them I do not know if they have online access to the accounts this feature I assume would be very important to anyone outside the country and I havent confirmed that yet.

[quote="Teenom"]@bjluv,
Hej!

Use UBA NRN/Brokers. I live in Germany and this is the way to go for now. 350K for starters!1 stop shop. Read through this thread. I just registered and the Service is very satisfactory. Blitz fast email correspondence and happy customers, Email NRN <NRN@ubagroup.com> for more details. Thanks to this thread I didnt sign up with CSL.

Ask Tonyjon and Naijadr:-)[/quote]

Hejsa/Hei/Hej/Morjens/Goddág

Seems you have walked on the Scandi soils before. Thanks for your comment. I will have to send an email to them or probably call on Monday after work. Do you think a current account is adviseable in Nigeria since I am not living there and would just be able to buy shares and send some money to who I want from the account. I will like to have a relationship manager though but from the website, only current account holders have a manager. Is this true?

I should swing the UBA's way somehow too,

X-2-X:

Abeg people, help a brother out . . .


Any vetiva client here ever transfered funds to vetiva tru their Domicillary account?
I transfered a hefty sum since Tuesday (using same day UK service) and they are
yet to acknowledge receipt.

Cheers

Scan the receipt of your wire transfer send it to them via e-mail and wait,

Etin:

500000 naira I was told but please note my dealings with them were as the issuing hose for some shares I wanted to buy. On that level I was very pleased. As far as getting an account with them I do not know if they have online access to the accounts this feature I assume would be very important to anyone outside the country and I havent confirmed that yet.

Thanks a lot Etin. I'll enquire from them if they have online dealing system.

@bjluv

Used to toy with the Idea of doing Grad School in Gothenburg but decided to stay in Germany.Where are u based?

Quote from Naijdr, Its a package specialy made for "Offshore" Customers.

Haha actually no, took me about 3mths before I settled on them for folks entering like me that didnt have N1mil or N5mil minimum, plus it also allowed me to have a bank acct. Where are u located, Temitope the US NRN rep is absolutely wonderful, he never gets tired of my constant emails, or my cancellation orders that come a min after sending a buy order Grin
I also sent mine by DHL to Marina c/o Temitope, took 3 business days from US, and my current/checking acct was opened the next day and CSCS a few days later.
Usually when I issue a buy order, if the stock is readily available, they'll get it by the next business day, and then the rep will email me invoice the following day. I usually send my buy orders at 8am Nigerian time, so that its the first thing he sees, but lately I've been doing it at 2pm Nigerian time so I can see the update from the NSE for that day. The stock brokerage section of UBA stops taking orders at 4pm every day
Do u have a bank acct? if not then UBA is awesome, cause u get to have that, plus when u send money, u are sending it to your bank acct.
I'm sure by early 2008, their online portal will be available, plus all the other perks such as the Mortgage Loan option is extremely good ($40k-$350k and up to $500k for CEOs of big companies).

Also with NRN know that even though N100k is needed to open the current acct in addition to the N250k for capital market acct, u only need N5k to keep current acct open. That wasnt made clear to me initially but once I found out, I pretty much transferred all the money in my current acct to my capital market acct Grin as I am not planning on being in Naija in the next few mths, so no point having it chilling there for now.

Etin:

http://www.investordelight.com

Useful tool/site for portfolio valuation and refreshed daily and frequently during the working day

@Etin
Yes it is a useful site but an even better one may be http://www.nigeriansecurities.com/
Check it out.