Registration with broker

jokeita · #1 (**permalink**) 5th October 2007, 06:14 PM

A friend of mine asked if registration with a broker can be done even before starting to buy stocks at all. I dont know the right answer. Can someone pls help.Thanks.

Betiku Franklin Olugbenga · #2 (**permalink**) 5th October 2007, 07:37 PM

Quote:

Originally Posted by jokeita

A friend of mine asked if registration with a broker can be done even before starting to buy stocks at all. I dont know the right answer. Can someone pls help.Thanks.

In the first place, you cannot even buy, sell and generally trade or deal on the NSE without the brokers. in other words you have to be registered with a stock broking firm who will now be the ones to be dealing for you on the floor of the stock exchange.

chidianosike · #3 (**permalink**) 5th October 2007, 07:49 PM

Jokeita,

Let me just add that your friend can build his/her portfolio by buying P.O's. You dont need a stockbroker to buy P.O's.
Like Betiku said, you must have a stockbroker to be able to trade in the secondary market though.

tucia25 · #4 (**permalink**) 25th October 2007, 12:33 PM

can anybody tell me the springbank will go back to listing in the stock market.

phoneworks · #5 (**permalink**) 30th October 2007, 04:06 PM

Can any stockbrocking firm register me with 20,000naira. This is what I have and I want to start trading. Give me his /her contact if there is any.

Yomik · #6 (**permalink**) 30th October 2007, 08:34 PM

Quote:

Originally Posted by phoneworks

Can any stockbrocking firm register me with 20,000naira. This is what I have and I want to start trading. Give me his /her contact if there is any.

YOU DONT NEED NO MONEY TO RESITER WITH VALMON SECURITIES CHECK THEM OUT

Yusuf · #7 (**permalink**) 31st October 2007, 12:37 AM

Quote:

Originally Posted by phoneworks

Can any stockbrocking firm register me with 20,000naira. This is what I have and I want to start trading. Give me his /her contact if there is any.

Phoneworks,

I will advise you check for broker around your areawho are registered. Bring their name to this forum for us to confirm for you if you are in doubt. Ask them about their term. Most brokers that are upcoming do not give too much condition for registeration.

Enjoy doing it yourself.

bwalaman · #8 (**permalink**) 31st October 2007, 01:04 AM

SMN... should seriously consider setting up a brokerage firm... I have been out of Nigeria for the last 15 years, but do visit at least 3 times a year.

I think Diaspora folks with all our expections of effective, efficient and excellent services need a firm that gives information, updates internet account, reply to emails, understands orders (mandates), understands upper and lower stop orders and at the minimum follows instructions...

This Nigerian factor thing, I really don't subscribe to...appreciate contextual differences, but there has to be a lowest common demonitor.

jokeita- take your chances...

suni · #9 (**permalink**) 1st November 2007, 02:26 PM

Quote:

Originally Posted by Yusuf

Phoneworks,

I will advise you check for broker around your areawho are registered. Bring their name to this forum for us to confirm for you if you are in doubt. Ask them about their term. Most brokers that are upcoming do not give too much condition for registeration.

Enjoy doing it yourself.

Yusuf, thanks for your advise, i am new to this forum and even new to stock business, i have some certificates from intercontinental bank and others and i need verification, i am considering KAPITAL CARE TRUST,to do business with, are they trust worthy?

Yusuf · #10 (**permalink**) 1st November 2007, 10:15 PM

Quote:

Originally Posted by suni

Yusuf, thanks for your advise, i am new to this forum and even new to stock business, i have some certificates from intercontinental bank and others and i need verification, i am considering KAPITAL CARE TRUST,to do business with, are they trust worthy?

You are welcome. You are on the right track. Register with them first, learn the rudimeent of stock business by reading any book you can lay your hand on and also attend seminers where they are available. You need to invest on your knowlegde of the business if you are thinking of success. Or else turn your money over to and fund manager to manage for you.

Be constant on this forum and take time to follow previous threads on various topics on this forum.

About been trust worthy, nobody can tell you that except someone who has transacted business with them before now. But check if they succeed the last recapitalisation excerise. I cannot confirm that now but check previous threads on stock brokerage firms on this forum.

Check out these website: Welcome to Investopedia.com - Your Source for Investing Education, Personal Finance News and Analysis, Features, and Tools.

Good Luck!

donfiazo · #11 (**permalink**) 19th November 2007, 02:17 PM

I'm A Young Man In My Early 20s. I Just Finished My Nd In Computer Science/info. Tech. I Have Heard Alot About The Stock Market And I Really Want To Go Into Investing In It To Better My Future, I Have Checked For So Many Online But They Are Usually Based In Lagos, But I'm Currently Based In Asaba. I Have Heard Of This Amyninvestment Youth Club That You Can Register With 500 And Open Account With 5,000 Naira, And Other Investment Company I Have To Reached Them Thru Email But No Reply Its Really Fustrating. I'm Really Serious I Need Help On Online Investment That Allow Opening Of Account With 5,000 Or Less, So That I Can Open The Account From Here And Not Going To Thier Offices First. Please I Need Authentic Ones

Distinction · #12 (**permalink**) 16th February 2008, 03:25 AM

Does anyone know how I can get access to Afrinvest's application form? Their website doesn't have any forms.

Thanks,

D.

Yusuf · #13 (**permalink**) 16th February 2008, 01:48 PM

Quote:

Originally Posted by donfiazo

I'm A Young Man In My Early 20s. I Just Finished My Nd In Computer Science/info. Tech. I Have Heard Alot About The Stock Market And I Really Want To Go Into Investing In It To Better My Future, I Have Checked For So Many Online But They Are Usually Based In Lagos, But I'm Currently Based In Asaba. I Have Heard Of This Amyninvestment Youth Club That You Can Register With 500 And Open Account With 5,000 Naira, And Other Investment Company I Have To Reached Them Thru Email But No Reply Its Really Fustrating. I'm Really Serious I Need Help On Online Investment That Allow Opening Of Account With 5,000 Or Less, So That I Can Open The Account From Here And Not Going To Thier Offices First. Please I Need Authentic Ones

If you still want to register with AMYN, send mail to amyninvestments@yahoo.com you will get response without delay. Also call Aisha on this number 08028786608 or the MD herself on 08033076084. I hope that will help you.

But base on what you say in your post, I want to believe that registering the stock brocker is just step two for you to become an investor. You need plenty of training and coaching. Another good step you have taken which is step one is subscribing to this forum.

You can also visit this website Investopedia.com - Your Source For Investing Education and Nigerian Securities for some materials on investing.

Good luck.

scamo · #14 (**permalink**) 27th February 2008, 06:41 PM

does anyone know anything about DBSL securities(owned by diamond bank) and spring trust and securities ltd, i will appreciate any info on this two if you have used either of them before

scamo · #15 (**permalink**) 12th March 2008, 03:50 PM

does anyone know anything about DBSL securities(owned by diamond bank) and spring trust and securities ltd, i will appreciate any info on this two if you have used either of them before

Shygunusng · #16 (**permalink**) 15th March 2008, 10:53 AM

Quote:

Originally Posted by chidianosike

Jokeita,

Let me just add that your friend can build his/her portfolio by buying P.O's. You dont need a stockbroker to buy P.O's.
Like Betiku said, you must have a stockbroker to be able to trade in the secondary market though.

Thank you! Jokeita, thats like hitting the nail on the head.

You can buy POs to have diverse share of stock but need a nroker to trade'em on your behalf in the market. Not only would you need a broker you would need to get a CSCS account in which the stocks you have, initially, bought will be credit for it to be tradable (sold/bought - in cae of new ones) on the floor of the exchange. The charges for opening the CSCS a/c, I think, differs from broking firms (N100,000.oo for some; maybe N1m for vetiva and or less than hundred for some - lookout for family members who are brokers, they may help you with so much rebate).

For me o, another thing I'd like to know is the commission on cr of CSCS and sales of owned/procurement of new stocks. Is anyone available to help with those rates?