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.
@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!