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Brokers introducing ledger fees (Retrogression)
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mwekez@ji
#1 Posted : Wednesday, April 02, 2014 6:21:45 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Banks stopped charging ledgers fees, brokers are now taking us back to that age!!! Nkt!!!

For us with CDS accounts with many brokers, it’s not interesting news

For Wanjiku investors, it’s not interesting news

By and large, bad news for growth of NSE



..... C/P from broker

Quote:
Dear Esteemed Client,

This is to notify you that with effect from March 2014 we will be charging a monthly maintenance fee of KES. 100.00 for every CDS account that has had activity during the month.

This is an industry wide initiative for all members of Nairobi Securities Exchange as approved by Kenya Association of Stockbrokers and Investment Banks (KASIB) in January 2014.

We thank you for your continued business and support.

Thank you.
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tomtom
#2 Posted : Wednesday, April 02, 2014 6:36:13 PM
Rank: New-farer


Joined: 11/19/2013
Posts: 33
That is uncalled for they already make a kill from commissions. they should at least make it quarterly and only if you do not trade within that period
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Mukiri
#3 Posted : Wednesday, April 02, 2014 6:39:35 PM
Rank: Elder


Joined: 7/11/2012
Posts: 5,222
Is there a way to do away with brokers?

Proverbs 19:21
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nashx
#4 Posted : Wednesday, April 02, 2014 7:00:39 PM
Rank: Member


Joined: 2/28/2014
Posts: 188
Location: Nairobi
I am yet to receive such an email from my brokers
Offering my personal finance knowledge for free
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maka
#5 Posted : Wednesday, April 02, 2014 7:40:19 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Mukiri wrote:
Is there a way to do away with brokers?

Nope...don't think of any market that has done away with them...thee closest you can do away with them is Direct Market Access...I agree total retrogression.
possunt quia posse videntur
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sparkly
#6 Posted : Wednesday, April 02, 2014 9:30:23 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
How will people make money on the stock exchange? aaaauuuuuuuiiiiii!


Is it not enough to take a freaking 2% of the trade in commissions from both the buyers and the sellers? Serikali saidia
Life is short. Live passionately.
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hisah
#7 Posted : Tuesday, April 08, 2014 2:58:51 AM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
Been monitoring this thread to see how hot it'd get. Nothing doing??
Someone (market makers) has foreseen the stocks winter... The market has run out of wanjikus! Commish drought is a reality with IPO drought not helping either.
Running out of wanjikus means a flat market for a while, which won't offer fat discounts - panic selling.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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CASHFLOW202
#8 Posted : Tuesday, April 08, 2014 12:21:20 PM
Rank: New-farer


Joined: 4/6/2013
Posts: 95
which brokers are these, give some names i have not received any email on the latter from cfc and equity
Monopoly was the industrial age money game and the name of the new game of money today in the information age is CASHFLOW
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XSK
#9 Posted : Tuesday, April 08, 2014 1:14:42 PM
Rank: Veteran


Joined: 12/8/2009
Posts: 975
Location: Nairobi
CASHFLOW202 wrote:
which brokers are these, give some names i have not received any email on the latter from cfc and equity


I received a text message to that effect from NIC Capital
You will know that you have arrived when money and time are not mutually exclusive "events" in you life!
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vickii
#10 Posted : Tuesday, April 08, 2014 1:21:01 PM
Rank: New-farer


Joined: 3/13/2014
Posts: 16
CASHFLOW202 wrote:
which brokers are these, give some names i have not received any email on the latter from cfc and equity


Unless they are doing it in hiding. So far I have received none
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mlennyma
#11 Posted : Tuesday, April 08, 2014 1:25:40 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,183
Location: nairobi
Can someone confirm suntra online trading died?
"Don't let the fear of losing be greater than the excitement of winning."
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streetwise
#12 Posted : Tuesday, April 08, 2014 1:40:17 PM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
I do not understand this charge, were it not better to increase the commission..so that you pay for service consumed.
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Angelica _ann
#13 Posted : Tuesday, April 08, 2014 3:45:06 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908
Looking for avenue to milk Wanjiku... looks like transactions are reducing and they have to get ways for generating revenue.

If it genuine competition, then why the agreement on flat rate and for all calibre of investors!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Angelica _ann
#14 Posted : Tuesday, April 08, 2014 3:47:14 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908
mlennyma wrote:
Can someone confirm suntra online trading died?

Confirmed dead, gave up on it after stressing Ngetich over the last 2 weeks.

Get hold of Wachira, nice guy will sort you out on orders!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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