₦airaland Forum

emmanuel ewumi: You are on your own, BGL is the issuing house to the right offer of Transcorp. Tony once worked at BGL, before he was seconded to Crystal bank that later turned to standard trust bank, which later merge with UBA. Tony is a shareholder in BGL, BGL can not give you an unbiased analysis about Transcorp
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bintalabi: list the good ones that are present in Ibadan that I will appear physically

I don't really know brokers in Ibadan as i live in Lagos, why not ask friends in Ibadan

Will the 2% of the amount be deducted on every investment with the same stockbroker and company as you said one can buy even with 1k after opening the cscs account?

Yes, any number of times you buy or sell shares, you must pay commission. [/b]

Will the 2% be deducted again when I want to sell the shares?

[b]Whether you buy or sell shares, you pay commission, do not be scared about the commission you pay which is insignificant compared the amount of money you are likely to make from your investment. The hidden truth is that this commission can not sustain any stockbroking firm financially, that is why they also buy and sell shares for themselves.


How will I know if my stockbroker is carrying out fraudulent transaction on my share?

Once an account is opened for you, you'll receive CSCS account number through which you'll be alerted via SMS of every transaction that occurs in your account. Your stock broker has no control of SMS you recieve from CSCS. Whenever you receive alert of any transaction you never authorized, quickly ask him to reverse the transaction or else...

Pls let me know the likely risk I will bear


Throw more light, risk in investing on shares or dealing with Stockbrokers?

bintalabi: I want to invest the little money am earning before I graduate next year
Where and how do I buy shares?

You can buy through a registered stockbroker. Stockbrokers can be found in any state of the Federation. There are some with Online Trading platform where you carryout all your transactions without being physically present.

Stockbrokers help to buy and sell shares, how do they make profit for themselves?

Stockbrokers make money by charging you commission called brokerage for every transaction. You also pay commission to SEC and CSCS, the total commission is about 2% of the investing amount.

What is cscs account as u stated above and how does it works?

Central Securities Clearing System Ltd. (CSCS) is the clearing house for the Nigerian stock Exchange market. CSCS is an integrated central securities depository (CSD), a clearing (transfer of shares from seller to buyer) and settlement (payment for bought securities) service provider for all stock market transactions. All securities listed on the NSE’s must have their certificates deposited (electronically or physically) with CSCS before they can be bought or sold. It is the duty of your stock broker to register you with the CSCS and you will be given investors number and Clearing House Number that uniquely identifies you. With CSCS, your broker is not the custodian of your share as you can move your shares from one broker to the other.

Too much questions? Sorry, More to come

You are free

Help me with these ones first

bintalabi: My level of amateur is far less to what I'm seeing here
Where do I start self
Too much questions to ask

ihedioramma: WHAT DO YOU HAVE TO SAY ABOUT THAT JAPAUL POST? IS IT IN YOUR PORTFO?

Dumexoga: Good morning my fellow nairalanders, it's good to be here. I strongly advice everyone here to consider japaul oil. That stock will shock people soon. At this current price, it's good for a discerning investor to take position. If you have been on this game for long, you will understand what I mean. Transcorp was at this same price some time ago, but check the difference today. I have already aquired millions of units, because I really made so much profit from transcorp.

SWG 1: don't u think ABC has a better liquidity and greater dividend yield than the rest @ it's current price

ihedioramma: ok am looking to se them here. pls what is the price of newgold stock?

ihedioramma: IS NOT INSURANCE STOCK THE NAME IS ROYALEX. GIVE ME 5 GOOD LOW STOCK THAT IS BELOW #2 BOUT STRONG?

ihedioramma: TALK TO ME I ASK U SOME THING??

phemmie06: Have you seen the recent result of okomu, the fundamental might be strong, but I guess the price will fall

Creamychic: Thanks a lot for this thread.
I am on the verge of opening an account with a stockbroking firm. Can u please provide a list of stockbrokers that have been tested and that are trusted? or better still, give us tips to consider when choosing a stockbroker.

Happy Sunday!

jamace: ^^^ What about UBA?

jamace: ^^^ What about UBA?

Jhunhior: Msgd u buh it aint delivering