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Not happy with my stockbroker...any recommendations? Anybody using SBG?
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INTERESTING!
#1 Posted : Sunday, April 27, 2014 9:29:10 PM
Rank: New-farer


Joined: 4/12/2014
Posts: 56
Hi Wazuan's

I am not happy with my stockbroker because they are slow in executing orders.

You tell them to sell or buy and they do it the day after. I will not name names but they are too slow and I do not understand why they even introduced that Sh100 fee per month Sad .

I am looking to move to another, preferably one who has an online platform and can execute orders using email and such mainly because I will only be in the country on an off for the foreseeable future.

Has any one use SBG? How is their online platform and would you recommend? Any other broker you would recommend?

Kindly help.
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sparkly
#2 Posted : Monday, April 28, 2014 7:11:44 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
@Interesting the issue of brokers has been covered extensively on Wazua. use the Wazua search function. Lakini I suspect you are somehow connected with SBG and you want us to start singing praises for them.
Life is short. Live passionately.
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Mukiri
#3 Posted : Monday, April 28, 2014 8:17:24 AM
Rank: Elder


Joined: 7/11/2012
Posts: 5,222
sparkly wrote:
@Interesting the issue of brokers has been covered extensively on Wazua. use the Wazua search function. Lakini I suspect you are somehow connected with SBG and you want us to start singing praises for them.

Laughing out loudly Laughing out loudly Laughing out loudly

@Interesting, Welcome to the club. In my experience with brokers, they all have issues. One chooses the least bad one and goes with it.

Let us know about SBG.

Proverbs 19:21
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Boris Boyka
#4 Posted : Monday, April 28, 2014 8:32:55 AM
Rank: Veteran


Joined: 11/15/2013
Posts: 1,977
Location: Here
Mukiri wrote:
sparkly wrote:
@Interesting the issue of brokers has been covered extensively on Wazua. use the Wazua search function. Lakini I suspect you are somehow connected with SBG and you want us to start singing praises for them.

Laughing out loudly Laughing out loudly Laughing out loudly

@Interesting, Welcome to the club. In my experience with brokers, they all have issues. One chooses the least bad one and goes with it.

Let us know about SBG.

@Mukiri well put(full stop) it's true that they are all evil therefore choose a lesser evil. Recently I met two ppl a lady and gentleman who really "demonised" D&B for failing to purchase shares as they'd instructed severally. I learnt in all financial institutions exists good & bad experiences and not all of us face the same. @Interesting just name it so that more recent information comes out.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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INTERESTING!
#5 Posted : Monday, April 28, 2014 3:24:59 PM
Rank: New-farer


Joined: 4/12/2014
Posts: 56
sparkly wrote:
@Interesting the issue of brokers has been covered extensively on Wazua. use the Wazua search function. Lakini I suspect you are somehow connected with SBG and you want us to start singing praises for them.


Now why are you accusing me of using a broker I have never used?

Anyways, I did search here on Wazua for them...there is a lot of info...thanks...I will give them a try but maze they want so many documents...This email they have sent...they even want my attorney to sign...it will take like a week to all these documents together...

First let me go to the gymn right now then come back later
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INTERESTING!
#6 Posted : Monday, April 28, 2014 3:26:48 PM
Rank: New-farer


Joined: 4/12/2014
Posts: 56
Mukiri wrote:
sparkly wrote:
@Interesting the issue of brokers has been covered extensively on Wazua. use the Wazua search function. Lakini I suspect you are somehow connected with SBG and you want us to start singing praises for them.

Laughing out loudly Laughing out loudly Laughing out loudly

@Interesting, Welcome to the club. In my experience with brokers, they all have issues. One chooses the least bad one and goes with it.

Let us know about SBG.


Why cant we get the perfect broker and the perfect bank to work with? I will open mine and it will be perfect!
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whiteowl
#7 Posted : Monday, April 28, 2014 6:21:57 PM
Rank: Veteran


Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
This is like asking guys whom is the best lady to marry. That is a paradox and we can keep debating this for eternity. So if you already have a wife, vumilia, kila boma ina shida zake
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sparkly
#8 Posted : Monday, April 28, 2014 8:37:04 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
INTERESTING! wrote:
sparkly wrote:
@Interesting the issue of brokers has been covered extensively on Wazua. use the Wazua search function. Lakini I suspect you are somehow connected with SBG and you want us to start singing praises for them.


Now why are you accusing me of using a broker I have never used?

Anyways, I did search here on Wazua for them...there is a lot of info...thanks...I will give them a try but maze they want so many documents...This email they have sent...they even want my attorney to sign...it will take like a week to all these documents together...

First let me go to the gymn right now then come back later



Power of Attorney... that would be your representative to receive cash, sign etc on your behalf.
Life is short. Live passionately.
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maka
#9 Posted : Monday, April 28, 2014 9:14:44 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
sparkly wrote:
INTERESTING! wrote:
sparkly wrote:
@Interesting the issue of brokers has been covered extensively on Wazua. use the Wazua search function. Lakini I suspect you are somehow connected with SBG and you want us to start singing praises for them.


Now why are you accusing me of using a broker I have never used?

Anyways, I did search here on Wazua for them...there is a lot of info...thanks...I will give them a try but maze they want so many documents...This email they have sent...they even want my attorney to sign...it will take like a week to all these documents together...

First let me go to the gymn right now then come back later



Power of Attorney... that would be your representative to receive cash, sign etc on your behalf.

Eish Sparkly...
possunt quia posse videntur
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stockshunter
#10 Posted : Monday, April 28, 2014 10:53:02 PM
Rank: Member


Joined: 1/16/2014
Posts: 114
INTERESTING! wrote:
sparkly wrote:
@Interesting the issue of brokers has been covered extensively on Wazua. use the Wazua search function. Lakini I suspect you are somehow connected with SBG and you want us to start singing praises for them.


Now why are you accusing me of using a broker I have never used?

Anyways, I did search here on Wazua for them...there is a lot of info...thanks...I will give them a try but maze they want so many documents...This email they have sent...they even want my attorney to sign...it will take like a week to all these documents together...

First let me go to the gymn right now then come back later


fear makes people live a miserable life.
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stockshunter
#11 Posted : Monday, April 28, 2014 10:55:26 PM
Rank: Member


Joined: 1/16/2014
Posts: 114
INTERESTING! wrote:
sparkly wrote:
@Interesting the issue of brokers has been covered extensively on Wazua. use the Wazua search function. Lakini I suspect you are somehow connected with SBG and you want us to start singing praises for them.


Now why are you accusing me of using a broker I have never used?

Anyways, I did search here on Wazua for them...there is a lot of info...thanks...I will give them a try but maze they want so many documents...This email they have sent...they even want my attorney to sign...it will take like a week to all these documents together...

First let me go to the gymn right now then come back later


interesting they requested from me the normal documents and a utility bill. I had no problem until when I placed an order of sasini (@ 17\=)that's where I started having issues they bought splits of 100 shares and that implied that I paid a commission of 100 shillings per every buy. I don't know how they benefited but I know the end result was that I bought every share @ 18 bob . though they are fast in executing orders though kidogo kidogo. Sad
fear makes people live a miserable life.
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african coloner
#12 Posted : Tuesday, April 29, 2014 1:04:38 AM
Rank: Member


Joined: 10/8/2010
Posts: 446
Location: london


[/quote]
interesting they requested from me the normal documents and a utility bill. I had no problem until when I placed an order of sasini (@ 17\=)that's where I started having issues they bought splits of 100 shares and that implied that I paid a commission of 100 shillings per every buy. I don't know how they benefited but I know the end result was that I bought every share @ 18 bob . though they are fast in executing orders though kidogo kidogo. Sad [/quote]

How does this work? do you have to get cheque like every day you sell or money is credited to your account direct after sale then you can buy more next day?
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INTERESTING!
#13 Posted : Tuesday, April 29, 2014 5:41:37 AM
Rank: New-farer


Joined: 4/12/2014
Posts: 56
stockshunter wrote:
INTERESTING! wrote:
sparkly wrote:
@Interesting the issue of brokers has been covered extensively on Wazua. use the Wazua search function. Lakini I suspect you are somehow connected with SBG and you want us to start singing praises for them.


Now why are you accusing me of using a broker I have never used?

Anyways, I did search here on Wazua for them...there is a lot of info...thanks...I will give them a try but maze they want so many documents...This email they have sent...they even want my attorney to sign...it will take like a week to all these documents together...

First let me go to the gymn right now then come back later


interesting they requested from me the normal documents and a utility bill. I had no problem until when I placed an order of sasini (@ 17\=)that's where I started having issues they bought splits of 100 shares and that implied that I paid a commission of 100 shillings per every buy. I don't know how they benefited but I know the end result was that I bought every share @ 18 bob . though they are fast in executing orders though kidogo kidogo. Sad


@stockshunter Brokers are allowed to take 1.78% of the value of each trade upto Sh100,000. If the trade is above that the commission is open to negotiation subject to a maximum of 1.5%.

For odd lots they take Sh100 per trade upto Sh3,000. Odd lots above Sh3,000 they are allowed to take 1.8% of the value of the trade. This is all from the Capital Markets Regulations of 2002 and I do not believe these charges have been reviewed since.

@african coloner If your broker is owned by a bank, they will direct deposit to your bank account and take it out using your electronic instructions.

Guys, I have to resolve this issue in the next three months otherwise I will be time barred. NIC Securities is not giving me good service.

Alternatively I can use two brokers. Good day!
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