Investing in Nigeria online

[Stockbear]

This is a recent article on the Proshare web site:


Visit www.proshareng.com for full details.

http://www.proshareng.com/myproshare...es.php?id=1001[/quote]

There's also a wealth of information on so-called high risk business on Nairaland. The thread is titled Risky Business;

http://www.nairaland.com/nigeria/board-53.0.html

[Avocado]

Originally Posted by jesusislord

I was able to contact Zenith Securities using contact details from their website and opened a brokerage account online with them. The account was up and running same day! I was pleasantly surprised. http://www.zenithsecuritiesng.com/mission.php

Really? You were able to send the required documents to them online and transfer funds to them all on the same day? Did you already have an account with ZIB?
.

[jesusislord]

YES. Scannned copies of my NGN passport and evidence of residence using a recent bill were all that i sacnned and sent b4 the opening. Money can be sent in various ways: if you have account with them in Nigeria, you can do a direct online transfer. If not, collect their UK or US account details and transfer your starting funds. Minimum amount specified in their website.

There are also other sites like http://counterstrust.com/default.asp where you can complete the process from UK without even contacting any of their officials in Nigeria. All the details including account number to pay into from abroad is clearly stated in their website.

[Miss_Risky]

Hi Jesusislord/Avocado,

Thanks ever so much for the links you've provided for stockbrokers as I'm also searching for one to use particularly one that allows me to place my orders from 'jand.'

One thing to point out though...as impressive as the websites are, I've noticed that Zenithsecuritiesng and Countertrust are not secured sites. When you logon to an SSL secured members' area site (i.e using a protocol which encrypts and decrypts your password over the internet), the URL should change from http to https and you should also see a padlock symbol on your task bar. Because this is a site that allows you to carry out financial transactions, you might want to ask them exactly how secure their site is and get assurances from them to that effect. Maybe they are using some other protocol I'm not aware of.

Cashcraft have implemented an SSL cerficate on their site (valid from 16-04-2006 to 16-04-2009: just double click the padlock icon to get the info) and although I'm hearing some negative things in terms of their service levels, I'm drawn to them simply for their security awareness. The search continues I suppose...

[egoldman]

Cashcraft had some problem with their server that too about 4 weeks to be resolved , thanks to the Nigerian factor , but since about two weeks now it seems to have been resolved as i could log into my account and could alss send email to their official domain email .
while inside my account i could see that there are features to give buy or sell order from withing my account ,i can also see the details of my cscs account right from withing my cashcraft account .
from the information i got , they are over 20 years in this business , but it seems that they are getting too big and this could be why sometimes it affects their level of services , but i like the fact that i would be able to monitor my stocks from here in India and give buy or sell orders without going to Nigeria .
Also as someone had pointed out , there site is secured and i dont really think your money is at risk with them , this is my opinion anyway .
I like zenithsecurities too as they have features as good as cashcraft if not better , though cashcraft have better research team than , but one thing they have which stand them out is that once they buy or sell shares on your account , you would get instant email notification , the downside for me about them is that they have minimum of 1 million naira to start with them while my cashcraft account manager told me i could start with as little as 10,000 naira .

[Bashir]

Hello
iam new here ok i think what u should do is to look for security house in nigeria who can help u ok like there is (New devco security) they are member os the nigeria stock brokers they will help you ok i will be sending you there contact address ok take care goodluck.

[favourme]

Hello Paragon,

Thanks for your information. Also thanks to Naija4ward. I have checked both websites they look cool (http://www.misl-ng.com) (www.cashcraft.com). Pls. Paragon/Naija4ward can you advice me which is better between MISL and Cashcraft and the difference between their fees. Again, I will like to know the minimum amount one can use to start investing with them.

Cheers!

[DEBO7000]

Hello NaijaFresh....
Thanks for the info about cashcraft.... A big question I have though - Especially for those of us away from the "motherland".. lets say, I open up an account, fund it, and then it grows very well... How would one go about getting the profits or indeed any portion transferred back in to Dollars or Sterling??? Maybe someone has overcome this challenge??

[dotunk]

well i think you will have to open one of those domiciliary accounts that most banks now offer, that way you can have access to the funds from where evr you are.

[frances]

Hi,

I'm also new to investing in Nigeria. I've been doing some research on how to buy shares in Nigeria whilst living in London, but unfortunately have been going round in circles. I'd be really grateful if anyone could please let me know how exactly someone from London could buy such shares (and all the processes involved..eg opening accounts/ CSCS/ brokers/ and most importantly keeping track of your money and how to actually get it back- in pounds). It would be really helpful to have a clear idea of it all from start to finish.

Thanks for your help!!

[Yusuf]

Originally Posted by favourme

Hello Paragon,

Thanks for your information. Also thanks to Naija4ward. I have checked both websites they look cool (.: Mountain Investment & Securities Limited | Welcome :.) (www.cashcraft.com). Pls. Paragon/Naija4ward can you advice me which is better between MISL and Cashcraft and the difference between their fees. Again, I will like to know the minimum amount one can use to start investing with them.

Cheers!

Favourme,

Do you actually look at those website very well. I discovered that MISL website is not updated regularly. Most of the news/info on the site are stale. I could not even open Cashcraft website but I believe they are not as "cool" as you think. Try visit the site again and watch out for all these details. MISL site is not secure also.

[Thel]

Opening broker accounts with these companies sound very simple but can someone confirm to me that it is also easy to walk away from these companies if you are not satisfied with their services without any hassle and move to another company?

[quinta4u]

Originally Posted by frances

Hi,

I'm also new to investing in Nigeria. I've been doing some research on how to buy shares in Nigeria whilst living in London, but unfortunately have been going round in circles. I'd be really grateful if anyone could please let me know how exactly someone from London could buy such shares (and all the processes involved..eg opening accounts/ CSCS/ brokers/ and most importantly keeping track of your money and how to actually get it back- in pounds). It would be really helpful to have a clear idea of it all from start to finish.

Thanks for your help!!

Hi frances,am a new person in this site,but i also believe you have gotten a reply to this your effect.Have you tried investing in a mutual fund like the one that is going public now the ARM Aggressive growth fund,

[nigeriananalyst]

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