APT Securities

[Stockbear]

I'm in the market for a new stockbroker with an online presence. APT Securities has been suggested.

Does anyone have info on them?

Has anyone used or know anyone who has used their services? Are they any good?

Can you recommend the services of a good broker (Not Cashcraft!).

All help is welcome.

P.S. Having a reliable broker that can execute your buy/sell orders is a priceless treasure. Even more priceless is a broker that helps you achieve your financial goals.

[olusolakemmy]

moderator,

what happened to your present broker? or you just want to be trading in more than one houses.

WEll,i have never heard of the house you mensioned, but i have never heard of anybody praising his or her broker before in terms of service delivery.

The story is the same everywhere.
But am sure you remember that in every prospectus of public offer, they usualy include names of suggested brokers and contact, may be you can get one.

The step you are taking is the right step anyway, that is recomendation.

[bwalaman]

I just got in with Tiddo - they appear to be good.

But I am finding out that the verification process is a nightmare- put in 16 certs (30 April) and so far only 3 have been verified. CSCS and the Registrars need to do better. The 3 are all with CSL.

And then practically all the shares I wanted to buy were out of supply???!!!

For sure "we" on this site are doing very well with information.

Efficiency is really something that does not exist.

Makes me wonder if week trading possible (not even day trading).

Hopefully consolidation is going to wipe some action into the process- hey, hope it does not make it worst as there will be fewer of them.

[eriksbmw]

I use Vetiva and they seem to be quite good.....also use CSL.......haven't had any serious issues and the staff are quite responsive to my numerous needs...even though its only kobo's that I have with them !.....comparatively !

BTW Stockbear.....what's wrong with Cashcraft ?.....a couple of friends of mine are trying to open accounts there ......should they be warned away ?

[Stockbear]

All I Can Say Is Stay Away From Cashcraft!

If you like unprofessional behaviour use them.

For delays in executing buy/sell orders use them.

For getting no response to buy/sell orders use them.

For lack of info given and un- updated account details use them.

[c kenneths]

I currently use three brokers and all are not living up to expectation, fidelity union has trapped my money after selling my shares for over two weeks running all because an official forgot to post my payment slip into my account when i bought the stock. so they seized the cash despite that i scanned my reciept and had the official do an e- mail as cover letter yet the money is still trapped. The other one has refused to send me an account printout for three months and are telling me they havent gotten my request for the printout, my account officer refuses to pick my calls, he puts his phones off at daytimes.

[Avocado]

Afrinvest West Africa (Afrinvest for short, formerly Sectrust) are my main stockbrokers. I score them low on iNet presence: their website (www.afrinvestwa.com) is quite below par; they don't have an online location you could log on to to check your account details; they're no match for Cashcraft, say, with research and information, almost nothing is up-to-date on the website ... but: they do quite well now; their officers are professional and get stuff done and appear to have a good understanding of stuff. They're quick to provide e-copies of all necessary documents and account positions as required. They've failed a number of times, so, I'll be shopping for a stockbroker for back-up.

We should mention the names of those stockbroking firms that're doing fine or not; there's no point hiding a company with good service, or protecting one that's provided less-than-sterling service.
.

[Stockbear]

Dear Avocado and C Kenneths could you please cut and paste your comments above, on the Rate your stockbroker thread: link below

Choosing/Rating Stockbroker

[Stockbear]

A collaboration between myself and Avocado has yielded some positive results. We came up a set of questions to ask prospective stockbrokers and we approached two FutureView (are yet to respond) and APT. We asked a total of nine questions which we believe should be standard questions for all investors seeking a stockbroker. The questions asked were designed to help investors based both at home and abroad.

APT based on our second email to them have agreed to reduced their N250k sign up fees, if we collectively choose to use them. A discount reference will be given to enable each person set up their account at a discount.

The icing on the cake is that we made them aware that we review the performances of Stockbrokers and that any broker that performs well obviously gets good reviews and patronage.

Based on this, I can see them giving all clients that come to them through SMN a good service. As we can all collectively share our experiences on the forum, and therefore to a wide audience.

If you are interested send me a PM. If you have any queries post them here and I'll try to get answers for them.

CAVEAT:Neither Myself or Avocado stand to gain/benefit in any way shape or form from this arrangement! We only want a better service for ourselves as well as everyone.

Below is APT's response and our reply:

From: APT Securities and Funds Limited <info@aptsecurities.com >
Date: 11-Jun-2007 11:17
Subject: Re: Account openings procedures?
To: <xxxxxxxxxxxxxxx>

Dear xxxx.

Thank you for your email.

Please find the answere to your questions below every question.

1. I'm very much interested in using any online facilities you have
available, as this will be my main source of monitoring with my
stockbroking account with you. I particularly rely on emails and text
messaging to issue buy/sell orders and would like to know if this
acceptable with you?

Yes: Apt offers online stockbroking free of charge and registration is easy

2. What sort of operational online facilities do you offer?

Our online facilities allow you to check you statement online, give buy
and sell mandates etc.

3. And how often or frequently do you update the information on your site,
particularly, information pertaining to my portfolio?

Information is update as often as needed, price list and stock information
and account statement is updated whenver there is an activity on the
account.

4. Will I be able to transfer monies directly from my bank account to
yours via e-banking? If yes, who are your bankers?

Yes you can transfer money straight to our account, however you should
ensure the money is deposited in your name and you should send us the
telleer number and payment details. We bank with GTB, Zenith and Oceanic.

5. What is the minimum required to open an account with you?

The minimum required to open an account is 250,000naira only.

6. Can the minimum you require include a transfer of my existing shares,
and how long does it take to get the account operational?

Yes, the minimum may include a transfer of shares based on the current
market value. Also your account will be operational once uyou register and
your cscs account is open which ideally takes less about a week.

7. Will I be able to receive contract notes and other relevant documents as
email attachments?

We do not normally send contract notes via email and transcation will be
visible on your statement. Please indicate the other relevant documents
are you referring to?

8. In order for me to effect buy/sell orders effectively, I would
appreciate a comprehensive and complete list of all Statutory and other
charges you have, connected with buying and selling of shares, as this
influences my decision to open an account with any broking firm.

The new charges as directed by SEC are split into buy and sell:

On the Sell side:

Stockbroker income: 1.125%
NSE Fees: 0.525%
CSCS: 0.4725%
Stamp duties: 0.075%
Total: 2.6475%

On the Buy Side:

Stockbroker income: 1.575%
SEC Fees: 0.60%
CSCS: 0.105%
Stamp duties: 0.075%
Total: 2.355%

9. With regards to the new capitalization directive, how does this affect
your company and any shares bought with you?

APT Securities and Funds Limited can only be positively affected by the capitalization directive. We are not at any risk of breakdown, merger or acquisition and are well within the requirements of the capitalisation.

Please do not hesitate to contact us for any other enquiries.

Thank you.

Yours Faithfully,
APT Securities and Funds Limited



from xxxx 12-Jun
to info@aptsecurities.com
date 12-Jun-2007 10:41
subject Re: Account openings procedures?
mailed-by googlemail.com


Thank you for your prompt reply. I have one query, a friend spoke with the MD, Mr Kufi recently and he stated that the minimum investment is N50k, but this would go up to N450 by the end of June. If you stick to the N50K for the present, I reckon you will get clients to from both Nairaland and StockMarketNigeria where we review and discuss services we each receive from our brokers.

Most members based both abroad and in Nigeria are seeking for a good broker, I would like to use your services and be able to tell others whether its an excellent service or not.

Cashcraft so far has the worst reputation so far.

http://www.nairaland.com/nigeria/topic-12852.0.html

Choosing/Rating Stockbroker

http://www.stockmarketnigeria.com/fo...=2298#post2298

Thanks for your help.




Their Reply Today:

from APT Securities and Funds Limited <info@aptsecurities.com> hide details 11:06 (12 hours ago)
reply-to info@aptsecurities.com
to xxxxx
date 19-Jun-2007 11:06
subject Re: Account opening procedure?
Dear xxxx,

Thank you for your email.

The increase of minimum investment to 250,000naira changed to 250,000 on
1st June 2007. However in the case that sevreal accounts from the same
link are being opened together consideration may be given for a slightly
lower minimum balance. However the minimum amount cannot be lowered all
the way to 50,000naira

Please note that the minimum balance also include the worth of share
certificates transferred to us therefore it is not all new purchase.

Thank you,

Yours Faithfully,
APT Securities and Funds Limited.

[oseitutu]

Originally Posted by Avocado

Afrinvest West Africa (Afrinvest for short, formerly Sectrust) are my main stockbrokers. I score them low on iNet presence: their website (www.afrinvestwa.com) is quite below par; they don't have an online location you could log on to to check your account details; they're no match for Cashcraft, say, with research and information, almost nothing is up-to-date on the website ... but: they do quite well now; their officers are professional and get stuff done and appear to have a good understanding of stuff. They're quick to provide e-copies of all necessary documents and account positions as required. They've failed a number of times, so, I'll be shopping for a stockbroker for back-up.

We should mention the names of those stockbroking firms that're doing fine or not; there's no point hiding a company with good service, or protecting one that's provided less-than-sterling service.
.

Originally Posted by Stockbear

I'm in the market for a new stockbroker with an online presence. APT Securities has been suggested.

Does anyone have info on them?

Has anyone used or know anyone who has used their services? Are they any good?

Can you recommend the services of a good broker (Not Cashcraft!).

All help is welcome.

P.S. Having a reliable broker that can execute your buy/sell orders is a priceless treasure. Even more priceless is a broker that helps you achieve your financial goals.

Afrinvest does have an online portal and you can logon and see your account details. They have their own down side also, but consider the environment in which they are working and you will see that they are above average. Of the three brokerage firms I use, they are at present the most impressive. Stanbic Equities is also good but I think they have quite a number of "large caps"(ie bigger boys) so it is not so easy to get attention promptly.
I can give you my contact info in Afrinvest if you send me a private message.
NB: I was referred to Afrinvest as Sectrust and hopefully they will get back to what they were online as Sectrust.

[Stockbear]

Originally Posted by oseitutu

Afrinvest does have an online portal and you can logon and see your account details. They have their own down side also, but consider the environment in which they are working and you will see that they are above average. Of the three brokerage firms I use, they are at present the most impressive. Stanbic Equities is also good but I think they have quite a number of "large caps"(ie bigger boys) so it is not so easy to get attention promptly.
I can give you my contact info in Afrinvest if you send me a private message.
NB: I was referred to Afrinvest as Sectrust and hopefully they will get back to what they were online as Sectrust.

Thanks Oseitutu, I have a friend who already uses Afrinvest. I would choose them over Cashcraft any day, but for now even my friend is looking for a backup to Afrinvest. Most likely they will be one of the brokers I will use.

Thanks

[babatunde akinyemi]

Originally Posted by Stockbear

I'm in the market for a new stockbroker with an online presence. APT Securities has been suggested.

Does anyone have info on them?

Has anyone used or know anyone who has used their services? Are they any good?

Can you recommend the services of a good broker (Not Cashcraft!).

All help is welcome.

P.S. Having a reliable broker that can execute your buy/sell orders is a priceless treasure. Even more priceless is a broker that helps you achieve your financial goals.

Dear Stockbear,

Please don't be taken in by the sweet talks in the APT response to your email. When I was about to open a stock account sometimes in April this year I visited the APT office at Marina in Lagos to ask for advice and means of depositing my money with them. Believe you me it took more than one hour and half for them to get somebody to talk to me. The stockbroker alloted to me knows next to nothing for among other foolishness he asked me to use half of my =N=3M to buy trancorp. During the course of the time I sat at their reception many dissatisfied customers came in complaining about failure to have their buy/sell orders carried out. I walked out knowing that the APT offers no good service. I then went to First city where they are more knowledgweable and courteous but nevertheless have little time for small investors.
I am now with cashcraft and I share your view that they are unresponive and we on this forum are far more knowledgable than the best of them.

My advice is that before you leap to another stockbroker get personal experience from current customers whose investment philosophy and requirement is like yours.

[Stockbear]

My choice of Cashcraft when I started out was owing to the fact that we had Cashcraft representatives in our midst posing as members, and directing potential clients their way. As you might be aware, I'm not based at home and needed somewhere the initial investment was small to start with, owing to the fact that I needed to be cautious. Imagine if I had started Cashcraft with a million Naira, I would be crying today, owing to my experiences with them.

Unless you have reliable info informing you that a stockbrokers' service is excellent, I wouldn't advice anyone to pay a large sum to them. It's quite easy to sign up and difficult to get out. Someone on Nairaland trying to move her portfolio to another broker had to get the transfer form from the new broker and her current broker has so far made her wait more than 2 months plus for a signature to the end that they are frustrating all her efforts to move.

Who needs this kind of hassle? Unless people come forward and share their experiences both good and bad how do we help each other? It's not enough that everyone recommends a broker as good, give us a breakdown of the positives and negatives. At least some of us do at least give suggestions, worst still is the fact that some of us just keep quiet and leach of the generous members amongst us.

Babatunde Akinyemi: You are a star! Thanks for your concise info. This really puts things into perspective. Forgive me, but how come it's taken you so long to share this info? The APT securities thread has been up for a while. I did ask for everyone's input but hardly any substantial until now. Don't get me wrong, I'm only trying to highlight the importance that we all (at least I think) do rely on each other for info that will help us make informed decisions.

Please everyone let's all try to help each other out. This is what this forum is for.

Once again, Babatunde thanks for your timely contribution. I have saved me from sinking my money down the drain.

[dotunk]

i have never has faith in stock brokers. i make my own decisions so i dont get to blame anyone. am not boasting, but i know more than most of them.

tome they serve only one function, purchase and sales.

[Stockbear]

DotunK:

i have never has faith in stock brokers. i make my own decisions so i dont get to blame anyone. am not boasting, but i know more than most of them.

tome they serve only one function, purchase and sales.

The issue is not whether you are able to make your own decisions, but after you've made your decisions to buy or sell and your broker is unable to execute your order in a timely manner, do you know how this will affect your decisions?

If you need your broker to execute in at least 2 days and they are incompetent and so execute in 5 days, tell me how do you think this will affect your decisions? Now tell me if you still feel good about making supposedly good decisions/calculations which your broker messes up for you?