Choosing/Rating Stockbroker

[ayemco]

Originally Posted by ayemco

2 unregistered Stockbroking firms defraud investors N2.4 million




Proshare NI
June 24, 2009 at 12:14 GMT




Two (2) unregistered Stockbroking firms Boyte Investment and Consult Limited and MDF Global Investments Limited have conspired to defraud investors who are employees of one of Nigeria’s Telecoms company name (withheld) N2.4 million worth of Investment and Allied Assurance shares.


The two companies from Proshare NI’s investigations show that they are posing as Dealing Members of the Nigerian Stock Exchange (NSE) to perpetrate their act.

Proshare NI can confirm that from the recent Factbook of the NSE, the two (2) companies are neither registered as Dealing Members of the Stock Exchange; therefore are not empowered by Law to act as Stockbroking firms.

It is also noteworthy to know that MDF Global Investments Limited that claims to operate from 23, Bishop Oluwole Close, Victoria Island area of Lagos; does not actually exist.

Proshare NI visited the address to clarify issues regarding to the N2.4 million fraud which was perpetrated between both companies, but discovered that Messrs F.O.A Ike’s MDF Global Investments office address was fictitious.

The security men and other people in the neighbourhood confirmed that a company by name MDF Global Investment does not exist.

This Olamitunji confirmed to Proshare NI following a visit to Boyte Investment; that Messrs Ike does not have a fixed address; but just a Jobber hustling to make ends meet.

Also Proshare NI can confirm specifically that Boyte Investment apart from not being a Dealing Member of the Stock Exchange did not also register with the Securities and Exchange Commission (SEC) before operating as a Capital Operator.

Is this the same Morgan..... something who posted somewhere that we should patronise his Stockbroking firrm?

[cashrules]

Originally Posted by raypower100.5

God, I beg help us from the hands of this people ooooooooh.
Just to be sure of the broker I use ''BYTOFEL TRUST AND SECURITIES LTD.'' Is the name familiar to the house?

Am surprised that people still ask this type of questions at this age and time... which do u prefer? a small fast agile broker who then makes away with ur investment.. or do u deal with a bank affiliated stockbroking firm with an apalling service but then u get the best by 'arranging for a staff all the time' and u can go to bed with ur eyes closed?

The choice is yours!!!

[chillykelly86]

Let us discuss/ compare our existing stockbrokers here to enable new and old members choose stockbrokers that offer acceptable services.
Thanks.

[hispy99]

Originally Posted by chillykelly86

Let us discuss/ compare our existing stockbrokers here to enable new and old members choose stockbrokers that offer acceptable services.
Thanks.

@chilly, there's already a thread for this and I have merged your thread with the pre-existing one.

[chillykelly86]

Originally Posted by hispy99

@chilly, there's already a thread for this and I have merged your thread with the pre-existing one.

Thanks, Hispy. Actually, I knew there was a thread like that but I couldn't locate it, so I had to create a new one with the same title as I'd already posted a reply on another thread pointing to it.
Thanks, once again.

[knightofdelta]

I use Crossworld Securities Ltd on Marina. They have an online presence but they hardly update the current stock price though they update portfolio promptly. Their execution is superb, sometimes they blow me away. No exaggeration here, there are times they get me stocks that are virtually on high bid (like 50% of the time) and they get to buy for me at the low or close to day low and sell at the high or close to day high, most times (>90% of the time). There are times they bungle my trades (like 5% of the time) and buy stocks when I have told them not to buy or sell when I have decided to hold.

I once made a mistake (just once) of putting a price limit and nothing was sold or bought on that day and I have not done it again, ever. If you are interested send me a PM and I will connect you with my account officer.

[williamschichi]

Originally Posted by knightofdelta

I use Crossworld Securities Ltd on Marina. They have an online presence but they hardly update the current stock price though they update portfolio promptly. Their execution is superb, sometimes they blow me away. No exaggeration here, there are times they get me stocks that are virtually on high bid (like 50% of the time) and they get to buy for me at the low or close to day low and sell at the high or close to day high, most times (>90% of the time). There are times they bungle my trades (like 5% of the time) and buy stocks when I have told them not to buy or sell when I have decided to hold.

I once made a mistake (just once) of putting a price limit and nothing was sold or bought on that day and I have not done it again, ever. If you are interested send me a PM and I will connect you with my account officer.

I use LEAD CAPITAL INVESTMENT,they are very good in exucutions and feedbacks,they have been my savior since i put a pause using PLATINUM CAPITAL ltd that has a low facilities of everything at my novice days or maybe becos i was dealing with an agent to them.

The only thing about LEADCAPITAL is that they might not upgrade your recents potfolio immedatly after a trading day but would do it later.i get my every day stock prices from them by going to there research site.

Anyway i still think about clsing the cheapter with PLATINUM CAPITAL because i still got some very good stocks wat good money with them and woult do that untill am there face to face.actually this are stocks i brought in the expensive days of tradings and public offers last year and two years.

WITH MY LITTLE VAST EXPERIENCE I HIGHLY RECOMEND LEAD CAPITAL

[hispy99]

Originally Posted by chillykelly86

Thanks, Hispy. Actually, I knew there was a thread like that but I couldn't locate it, so I had to create a new one with the same title as I'd already posted a reply on another thread pointing to it.
Thanks, once again.

You are welcome. There's a google search option at the top right-hand corner of your screen that you can use to search for threads. So if you have an idea of the title of the thread you are looking for, you can use this tool to locate the thread.

[chillykelly86]

Originally Posted by knightofdelta

I use Crossworld Securities Ltd on Marina. They have an online presence but they hardly update the current stock price though they update portfolio promptly. Their execution is superb, sometimes they blow me away. No exaggeration here, there are times they get me stocks that are virtually on high bid (like 50% of the time) and they get to buy for me at the low or close to day low and sell at the high or close to day high, most times (>90% of the time). There are times they bungle my trades (like 5% of the time) and buy stocks when I have told them not to buy or sell when I have decided to hold.

I once made a mistake (just once) of putting a price limit and nothing was sold or bought on that day and I have not done it again, ever. If you are interested send me a PM and I will connect you with my account officer.

Thanks, KOD, for this articulate, informative and useful post. I'm interested and will send you a PM right away.

[chillykelly86]

Originally Posted by hispy99

You are welcome. There's a google search option at the top right-hand corner of your screen that you can use to search for threads. So if you have an idea of the title of the thread you are looking for, you can use this tool to locate the thread.

Thank you very much. I never really noticed that, maybe cos each time I log in, I rush into my "favorite" threads. Only recently, I started noticing some very flashy and useful adds.
Enough digression. Thanks.

[chillykelly86]

Originally Posted by williamschichi

I use LEAD CAPITAL INVESTMENT,they are very good in exucutions and feedbacks,they have been my savior since i put a pause using PLATINUM CAPITAL ltd that has a low facilities of everything at my novice days or maybe becos i was dealing with an agent to them.

The only thing about LEADCAPITAL is that they might not upgrade your recents potfolio immedatly after a trading day but would do it later.i get my every day stock prices from them by going to there research site.

Anyway i still think about clsing the cheapter with PLATINUM CAPITAL because i still got some very good stocks wat good money with them and woult do that untill am there face to face.actually this are stocks i brought in the expensive days of tradings and public offers last year and two years.

WITH MY LITTLE VAST EXPERIENCE I HIGHLY RECOMEND LEAD CAPITAL

Pls, can I get contact details of Lead Capital? How about their opening balance?

[hispy99]

Originally Posted by chillykelly86

Pls, can I get contact details of Lead Capital? How about their opening balance?

:: Welcome to LeadCapital Plc (Member of the Nigeria Stock Exchange::

[threecrown]

Originally Posted by cashrules

Am surprised that people still ask this type of questions at this age and time... which do u prefer? a small fast agile broker who then makes away with ur investment.. or do u deal with a bank affiliated stockbroking firm with an apalling service but then u get the best by 'arranging for a staff all the time' and u can go to bed with ur eyes closed?

The choice is yours!!!

Well said, I use to use both Fidelity union (long term) and Lead capital (trading). But the recent market down turn gave a reason to think of the bank back stockbrokers versus the others so i moved all my stocks to Fidelity and since them I sleep better.
Though leadcapital have a functional website and I transfer money online to them (GTB), I buy and sell without contacting anybody in person expect to request for funds to be tranfered to my account when i make a kill. So generally it was convienent dealling with leadcapital on my part but I chose to stay with Fidelity and they are also good, very good.

[williamschichi]

Originally Posted by threecrown

Well said, I use to use both Fidelity union (long term) and Lead capital (trading). But the recent market down turn gave a reason to think of the bank back stockbrokers versus the others so i moved all my stocks to Fidelity and since them I sleep better.
Though leadcapital have a functional website and I transfer money online to them (GTB), I buy and sell without contacting anybody in person expect to request for funds to be tranfered to my account when i make a kill. So generally it was convienent dealling with leadcapital on my part but I chose to stay with Fidelity and they are also good, very good.

oga three crown,quite a long time,

[funshy76]

Hi
Could someone please tell me about Greenwich Trust security ltd. Are ther services good compare to BGL. I need some good information before i go in.

[upscholar200]

Please what is the state of AMYN investments? I cant see anyone at their port harcourt office again. And how is their service?

[savvy]

Originally Posted by upscholar200

Please what is the state of AMYN investments? I cant see anyone at their port harcourt office again. And how is their service?

Try their Lagos numbers and confirm that they have not moved office..Do they have a PH presence?
However I suggest you do business with caution with AMYN as a couple of folks here have posted sad stories about their services.

Here is their address:
19th Floor, Stock Exchange House, 2/4 Customs Street. P. O. Box 2911, Marina, Lagos. Tel/Fax: 234-01-2643973, 08023172038, 08033076084; E-mail: amyninvestments@yahoo.com; Website: http//:www.amyninvest.com

[saheewale]

Cashcraft now charges extra N500 naira per transaction( buy or sell) after the deduction of commission. I was not informed until i stormed their office today due to a sell commission on one of my stocks that was up to 8% and another buy that was up to 7% when the N500 was applied. So they said that's the new directive from above.

[hispy99]

Originally Posted by saheewale

Cashcraft now charges extra N500 naira per transaction( buy or sell) after the deduction of commission. I was not informed until i stormed their office today due to a sell commission on one of my stocks that was up to 8% and another buy that was up to 7% when the N500 was applied. So they said that's the new directive from above.

I'll advice you to move your account. They are just looking for easy ways to make money. What about if you threaten to report them to the NSE and SEC? Are they not going beyond the mandated fees?

[pumping]

Originally Posted by saheewale

Cashcraft now charges extra N500 naira per transaction( buy or sell) after the deduction of commission. I was not informed until i stormed their office today due to a sell commission on one of my stocks that was up to 8% and another buy that was up to 7% when the N500 was applied. So they said that's the new directive from above.

This is the worst broker in the business. You can't make money investing with them because they will steal all your money. Better ZAP.