Previous Dealings

[kowen555]

Hey all
has anyone had any previous dealings or interactions with Union Stockbrokers or Pilot Finance, Marriots securities??
I am considering changing brokers, they are among a list that has been forwarded to me, and as the world of Nigerian stockbrokers is still relatively small, I hope somepeople has dealt with any of them and can share their experience.
Thanks guys

''ONWARD AND UPWARD''

[pumping]

I will recommend you go through this thread as well in choosing a stockbroker.

Looking For Reputable Stockbrokers

[Betiku Franklin Olugbenga]

Originally Posted by kowen555

Hey all
has anyone had any previous dealings or interactions with Union Stockbrokers or Pilot Finance, Marriots securities??
I am considering changing brokers, they are among a list that has been forwarded to me, and as the world of Nigerian stockbrokers is still relatively small, I hope somepeople has dealt with any of them and can share their experience.
Thanks guys

''ONWARD AND UPWARD''

Yes i think you should go by pumping's suggestion but can you share with the forum why you want to change your broker?

[laman]

Pilot securities i have dealt with this company . they tend to prefer to deal with people with a lot of money. be careful about seyi osunkeye one of their brokers

[pumping]

Originally Posted by laman

Pilot securities i have dealt with this company . they tend to prefer to deal with people with a lot of money. be careful about seyi osunkeye one of their brokers

Why should one be careful of this Seyi? What is your own experience with this Seyi or is it something you heard?

[kowen555]

Thank for your response guy's....this is all part of due deligence.
I am aiming to start trading actively, while I have experience in the Uk stock market, I am new to Nigeria's.
How long would you expect it to take for a broker to effect a trade from the point of recieving funds assuming stock readily available??

[chidianosike]

Thats where the reliablity of your choosen brooker comes in.
Some will give you the impression the stock is scarce when its actually available, while others will make the purchase or sale and it takes a long time for them to let you have a copy of the contact for sale or purchase .i personally dont know why they do this. Other brokers have 'zero' custormer service and it makes dealing with them a frustrating experience when you suddenly find urself pleading for information you should have as a custormer.

You may need to carry out more research to enable you zero in on the right broker for you. sample opinions in the house on any brokers you have interest in, that way you may get more information. I know i was very close to opening an account with Cashcraft some months ago till i learnt on this forum that the didnt have a 'wonderful reputation' and i fleed..

Futureview Financial Services have been impressive for me. they've executed my buy/sell mandates within 48hrs.

You may wish to visit their website..::FutureView Financial Services Limited ::

[pumping]

Originally Posted by kowen555

Thank for your response guy's....this is all part of due deligence.
I am aiming to start trading actively, while I have experience in the Uk stock market, I am new to Nigeria's.
How long would you expect it to take for a broker to effect a trade from the point of recieving funds assuming stock readily available??

Go through the thread below to help you in deciding on a good stock broker.

Looking For Reputable Stockbrokers

In response to your question, let me answer it this way. If you are buying at market prices, your broker should be able to execute same day or next day provided you have made funds available and the instruction is received before the market opens. It should take another 3 days for the stock to clear into your CSCS account.

Stay away from brokers that cannot execute for you within a week at most.

This is the standard you should aim for. Don't accept any less. It is attainable in the Nigerian stock market by choosing the right stock broker. Agreed, if a stock is scarce, this may not be possible but you may be able to deduce this from the price movement of the stock.

I hope this helps.

[kowen555]

Pumping & Chidianosike, thank you for your spot on repliies, I can see you all are going to be part of my ''investment family''.
I am planning to open accounts with a few brokers, get the ball rolling with some small trades, and judge perfomance from there before settling on one to really work with.
What do you think?

[Yusuf]

Originally Posted by kowen555

Pumping & Chidianosike, thank you for your spot on repliies, I can see you all are going to be part of my ''investment family''.
I am planning to open accounts with a few brokers, get the ball rolling with some small trades, and judge perfomance from there before settling on one to really work with.
What do you think?

Playing such game may be good and at the same time risky. But depending on you plan, you actually need to lose or better put spend some money to know the right business partner you needed. From you plan, you actually need a very very good stock broker that is hyper active to respond to your call even in the midnight.

Good Luck my brother. But make sure you let us know the result of your examination for the stock brokers.