Quote:
Originally Posted by amaka_favour
Please i want to know the least amount of money i can use to invest in the floor of NSE. how do i trade the stock.
Thanks
|
The minimum amount you can use to trade is like an open ended question. It depends on some factors:
1. If you already have a stockbroker then the minimum is the cost of 1 unit of any stock you want to buy on the floor of NSE. You can buy minimum of 1 unit of any stock lised on NSE - if your stockbroker will not consider this quantity as wasting his time.
2. If you do not have a stockbroker at the moment, then you will need to get one that will register you with CSCS and give you all necessary account numbers as regards your stockbrokage account. The amount required to register with a stockbroker varies from one to another. Some I have read take N10k, many says mini of N100k others are N1m-N5m. This money is also your money to be used for trading for you. It is just that they need it in their reserve to be sure you are ready for stock business. After registration you can follow first case.
For the second part of your question, you cannot trade your stock by yourself on the floor of NSE except you are a license trader belonging to aa authorised dealing member of the exchange. You will need a stockbroker which is why every investor to NSE MUST have a stockbroker. They will trade on your behalf with your mandates for buy and sales at the pricess you specify or market prices.