₦airaland Forum

Blaqq2:
I just confirmed
Bamboo is just outright scam
Their charges to begin with is just funny
Plus the fact that they sell your stocks at the lowest possible option is just sad

Payunsin:
I have sold 75% of my Oando and am seeking the next loot oooo.
Royalexchange
Japaul
Honeywell
On my mind.
Egg heads, pls I need your advice.
The money large gaan

ice234:
Stanbic is 0.7% if done via their app or website.

Capitas7:
Many have replied with a lot of helpful advice and explanations, but I'll add from another angle:
Third party brokers are really not the best if you want to treat your holdings as assets,rather than short term trading positions. In many cases, your name will not appear on the registrar's record as a stockholder because the online broker (Fintech) are the ones who own the stocks you hold. This is like buying land without CofO. You own the plot, but with limited rights as a temporary occupant since you are not really recognized by the concerned ministry as the owner.

In addition, there is a concept called "stock lending". This business has earned many brokers several billions. It is legal at least in the US, and if it is legal on NGX, you might have signed when opening your account with a third party broker that you agree that your shares can be loaned. When loaned, traders and "shorters" can use your positions to do magic that influence the stock availability and price movements in the market while your "local" portfolio still tells you that your holdings are untouched.

Because of hardworking indigenous entrepreneurs who continue to provide jobs and establish local companies, I wouldn't say to ditch these apps, but I'd say it's good to add a broker with a physical office and good reputation.

designking:
How do I file for my UBA dividend? I didn't receive anything from UBA.

I have about 100,000 units of UBA shares on Bamboo App.

Lion123:
If BAT happens in 2023 (I say God forbid), expect to see Oando at N50 per share within a year.

Locotrader:
Be very fast about the decision.
Thursday is board meeting that will produce Q3 result either in the evening time of Thursday or Friday.

Price will dip very well tomorrow and probably Thursday morning (2.15)

Next week may be to your tent oh Israel.

Payunsin:
I have sold 75% of my Oando and am seeking the next loot oooo.
Royalexchange
Japaul
Honeywell
On my mind.
Egg heads, pls I need your advice.
The money large gaan

Lion123:
We ate good on Oando.

yMcy56:
DLM should be good then.
Let me make more findings on your funding and withdrawal concerns and revert.

Pls send inquiry mail to : iatanda@dlm.goup
You may request for phone contact if need be

* Updated*

Lion123:
We ate good on Oando.

designking:
My UBA dividend has come in. I am loving this Dividend thing oooo.

Make I use this hold body before the share price rise.

Capitas7:
Many have replied with a lot of helpful advice and explanations, but I'll add from another angle:
Third party brokers are really not the best if you want to treat your holdings as assets,rather than short term trading positions. In many cases, your name will not appear on the registrar's record as a stockholder because the online broker (Fintech) are the ones who own the stocks you hold. This is like buying land without CofO. You own the plot, but with limited rights as a temporary occupant since you are not really recognized by the concerned ministry as the owner.

In addition, there is a concept called "stock lending". This business has earned many brokers several billions. It is legal at least in the US, and if it is legal on NGX, you might have signed when opening your account with a third party broker that you agree that your shares can be loaned. When loaned, traders and "shorters" can use your positions to do magic that influence the stock availability and price movements in the market while your "local" portfolio still tells you that your holdings are untouched.

Because of hardworking indigenous entrepreneurs who continue to provide jobs and establish local companies, I wouldn't say to ditch these apps, but I'd say it's good to add a broker with a physical office and good reputation.

designking:
How do I file for my UBA dividend? I didn't receive anything from UBA.

I have about 100,000 units of UBA shares on Bamboo App.

megawealth01:
FBN Holdings proposes name change to First Holdco Plc at upcoming AGM

https://nairametrics.com/2024/10/18/fbn-holdings-proposes-name-change-to-first-holdco-plc-at-upcoming-agm/

Raider76:
With this explanation I wonder if Morgan are third party brokers. When I filled the e-dividend with the registrars of Linkage Assurance they told me I have to fill a transfer form with my brokers because the shares are in my broker's name.

RodgersAkpafu:
While what you said is true

This is not applicable to Bamboo, but is applicable to trove.

Bamboo will give you CSCS and CHN
I mean I use them and the same CHN that is linked to my other brokers is the same one linked with it, plus a separate CSCS number
So yea

Capitas7:
Thank you for clarifying and giving a good example for all to note, boss.

Raider76:
With this explanation I wonder if Morgan are third party brokers. When I filled the e-dividend with the registrars of Linkage Assurance they told me I have to fill a transfer form with my brokers because the shares are in my broker's name.

RodgersAkpafu:
Thank you for your contribution as well.
very insightful
so we learn from each other

designking:
How do I file for my UBA dividend? I didn't receive anything from UBA.

I have about 100,000 units of UBA shares on Bamboo App.

mikeapollo:
Go buy Oando again.
The second rally will start soon.

Locotrader:
delivery failure.
Have you tried sending mail to that ID before?

Mills55:
Just got a message from Meristem about FBN AGM next month. It's quite unprofessional from FGN for delaying shareholders right for this long. Just because of selfish interest. This cannot happen in a sane clan.

edwardaigb:
Honestly, I use to fill e-dividend form and take to the bank but for some time now, I just buy any stock and receive dividend without mandating any dividend form. I suggest you wait till weekend and if nothing show you reach out to the registrar.

Capitas7:
Very valid concern, but I think the "transfer form" just sounds a little misleading - it's an essential form requested for by all brokers if I recollect correctly. I actually think Morgan does not fall into this 3rd party category. I think it's those brokers with no local physical office that are "suspects".
You're an old wine, so I know you know much, boss.

RodgersAkpafu:
They are not a scam
Their system is just......
Somehow

So lemme explain it in simple terms

For every asset on an exchange, there is the bid section (how much people are willing to buy) and the offer section (how much people are willing to sell)

So the highest bid price and the lowest offer price is always not the same
the highest bid price will always be lower than the lowest offer price (well most of the time)

the difference between the two is what we call the "spread" in finance

In some sectors, the spread is very small (eg banking stocks, you often see 50k to N1 gap )
some other industries it is much wider
Because Bamboo operates on the market buy Nd not limit buy/sell, what they do is as below

WHEN U WANT TO BUY SHARES. it will go and pick the offer price available there, which is always higher than the highest bid rate....

WHEN YOU WANNA SELL, it will now go to the bid side and pick the highest possible bid (the available one)
And like I said earlier, the highest bid will almost always be lower than the least offer price

That's why it appears that bamboo is cheating

The limit buy/sell function is mot there yet for some reason best known to them.

To circumvent this, you go for brokerages that allow you to exercise limit buy/sell function
meaning you buy or sell at your own set price, and the if the market doesn't accept your price, your trade fails

Thats why Bamboo trades don't fail
they pick the market price
but limit buy or sell can fail

Hope I didn't confuse anyone

Mills55:
Just got a message from Meristem about FBN AGM next month. It's quite unprofessional from FGN for delaying shareholders right for this long. Just because of selfish interest. This cannot happen in a sane clan.