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McGill
#51 Posted : Tuesday, February 21, 2023 2:46:52 AM
Rank: Member

Joined: 8/1/2019
Posts: 106
sparkly wrote:
Angelica _ann wrote:
VituVingiSana wrote:
stoner wrote:
Monk wrote:
Ericsson wrote:
tandich wrote:
target1360 wrote:
Ericsson wrote:
Monk wrote:
African Alliance Securities bowing out of Kenya...

https://kenyanwallstreet...rage-business-in-kenya/

I need to select where to move. Is NCBA any good?


SBG Securities


Sbg are ok, though they dont like clients withdrawing funds from their account.
They l take you through rounds with escuses like oooh signature differs,ooh commissioner of oath until you give up


I left SBG for the same reason. Leaving them is even more painful. It now takes a month for them to sign your transfer forms!


Y that's too long.
NIC capital
KCB Capital
Faida investment bank


I went through a painful transfer from Faida Investment Bank a few years ago.


I went through a similar experience transferring my portfolio to Suntra.Useless Suntra took 5 months to transfer the portfolio (a process that takes one week).During that 5 months I could not trade my stocks and suffered losses as I was unable to sell my stocks at my price and time.I demanded from Suntra a refund for these losses they refused.I filed a complaint to both CMA and NSE and they chose to do nothing about it
CMA is useless.


I have an account I have been transferring from SBG securities from December last years. Nowadays the excuse is Corona. Bure kabisa, they make customers be at their mercy. This is an idle portfolio, I can imagine the active account.



SBG Securities now pretending not to receive withdrawal requests. There is a Broker's crisis coming up like the 2008-2009 crisis. A number of brokers will go bankrupt. If you have cash in your brokerage accounts, withdraw or buy shares!


Did SBG improve? Anyone with a review of NIC?
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Thornbird
#52 Posted : Tuesday, February 21, 2023 7:13:43 AM
Rank: New-farer

Joined: 12/13/2018
Posts: 29
I use Sterling Capital - so far so good but I don't know how they treat exiting clients
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MaichBlack
#53 Posted : Tuesday, March 21, 2023 11:38:12 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,837
Equity Bank MUST BE THE WORST when it comes to stock brokerage!!! Extremely old school - manual everything - you must go to the banking hall, orders are for 3 days fixed, you can't react (for example to cancel an order) unless you go fill forms bla bla bla by which time it is too late, and the worst part, the staff are TOTALLY CLUELESS!!! It is like they pick a random member of staff and trll them to man the shares desk. The kind of wrong baseless nonsense they feed you with makes you wanna slap them!!! They don't even know the basic sh!t and will argue with you on stuff you know.

Avoid Equity for stock brokerage if you want to keep your sanity!!! And I say this even though I am a shareholder at Equity and buying more.

I have a joint CDS account at Equity which I can't move for various reasons but if I could, I would. Bure kabisa!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#54 Posted : Tuesday, March 21, 2023 11:45:29 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,837
This fellows can make you go nuts!!! I was ordering Equity shares at 38 and the lady is telling me I should order at 38.50 or at 39/= to be sure!! I tell her I can see a real time supply of 430,000 shares at 38/= on my phone and the current highest offer price at 37.75/= she tells me there is nothing like that and argues with me for a couple of minutes. I ask her if their orders go to the market immediately and she tells me that is not possible and I tell her I do that on my phone on other accounts. She tells me it can go within three days and I come back in three days to confirm. I tell her that is the maximum time the order is valid as per the form which is different for when it actually goes to the market. She feeds me with a lot of bs and I leave the place totally pissed off!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#55 Posted : Tuesday, March 21, 2023 2:22:53 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,837
Another time I had a problem with these characters I was buying rights. I apply for my rights and additional ones. I go to drop the document and a an extremely young fellow (clearly a wings to fly campus student on a long holiday work program) argues with me for a good 30 minutes on the issue of the extra rights applied for. He swears that it is not possible, has never been done, can never be done!!! I can only apply for exactly what I am entitled to! The rest I HAVE TO buy from the market. I tell the young fellow that it is not the first time I was doing that! I even ask him what he thinks that section in the form that says "Extra rights" is for!!! After arguing for a while, he calls a more confused wings to fly who just keeps agreeing with him looking confused. At this point I almost slapping the shit out of them. Another fellow comes in and says "may be" it is possible.

Anywho, I end up leaving the form and I go my way. I later realised the idiot still ordered the extra shares from open market (costing me my sizable discount on the rights) and only the rights I was entitled to were allocated. And I had over applied for the extra rights because I know they are allocated on pro-rata basis. Idiot bought all of them from open market. I don't know how he did it because I would have to fill different forms to buy from the market. I also don't know if he had to cancel the part I had applied for extra rights because people who had applied actually got some extra rights.

I was so freaking pissed off.

ON STOCK TRADING, EQUITY STAFF ARE TOTALLY CLUELESS!!! EQUITY NEEDS TO DO SOMETHING!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Sufficiently Philanga....thropic
#56 Posted : Tuesday, March 21, 2023 2:26:59 PM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli

I feel you, that was me in 2003-2006. You had to know the dealer to make a purchase or trade. Got so frustrated, missed a lot of opportunities in those bull years worth millions of shillings. I didn't have time to keep following up with the broker during market hours as i was employed. Eventually got so frustrated that i had to quite employment, atleast to get my orders filled immediately. I figured, the savings would atleast/hopefully cover for the salary foregone!
@SufficientlyP
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MaichBlack
#57 Posted : Tuesday, March 21, 2023 2:31:11 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,837
Sufficiently Philanga....thropic wrote:

I feel you, that was me in 2003-2006. You had to know the dealer to make a purchase or trade. Got so frustrated, missed a lot of opportunities in those bull years worth millions of shillings. I didn't have time to keep following up with the broker during market hours as i was employed. Eventually got so frustrated that i had to quite employment, atleast to get my orders filled immediately. I figured, the savings would atleast/hopefully cover for the salary foregone!

Pole sana!!! Totally feel you. Sometimes you feel like literally slapping the fellows!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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kichwa_kibov
#58 Posted : Friday, November 10, 2023 10:57:14 AM
Rank: New-farer

Joined: 9/24/2012
Posts: 20
Location: Tatu city
Avoid Dyer and Blair if you can.

Mostly unavailable via phone and unresponsive via email. Their share trading platform is unavailable on most days. Deposits via MPESA sometimes go unrecorded and you have to follow up forever.

Though it's worth noting that the UG branch is amazing. Very responsive and professional.

They should teach their Kenyan counterparts a thing or two.
The smart man learns the truth and screams it at others to try to change their mind to his own lifestyle’s detriment. The wise man learns the truth and applies it to his life. Others learn the truth from watching him.
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HaMaina
#59 Posted : Monday, November 13, 2023 6:32:56 PM
Rank: Veteran

Joined: 4/23/2014
Posts: 931
NCBA is not bad, their online platform is quite stable and when it's not the staff can place or sell over the phone or email. Payment is sell+2 working days. Deposit is pay bills. I find I'm able to work with them ok most of the time.
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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McGill
#60 Posted : Tuesday, November 14, 2023 11:46:55 AM
Rank: Member

Joined: 8/1/2019
Posts: 106
kichwa_kibov wrote:
Avoid Dyer and Blair if you can.

Mostly unavailable via phone and unresponsive via email. Their share trading platform is unavailable on most days. Deposits via MPESA sometimes go unrecorded and you have to follow up forever.

Though it's worth noting that the UG branch is amazing. Very responsive and professional.

They should teach their Kenyan counterparts a thing or two.


I second you. Dyer and Blair is the worst broker around. They will answer your mail after 2 weeks. Worst customer service ever. They act like they do not want your money. Sterling and AIB are not perfect but I find them better to deal with.
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