Stanbic IBTC Stockbrokers, a subsidiary of Stanbic IBTC Holdings PLC, has removed the minimum stockbroking account-opening balance for individuals to allow zero set up amount via its mobile app or electronic trading (e-Trade) platform on its website.
Nigeria’s largest stockbroking firm with a market share of over 10 per cent of the value of shares traded on the floor of the Nigerian Exchange Limited, said in a statement that it has taken it upon itself to enlighten and empower prospective investors,especially the millennials and the Gen-Z demographics by providing the tools and opportunities for wealth generation and preservation offered through capital market investments.
“By removing the opening balance requirement and reducing its online brokerage fees, individual investors are encouraged to take advantage of this opportunity and enjoy the aspirational services provided by Stanbic IBTC Stockbrokers,” the statement explained.
Titi Ogungbesan, Chief Executive, Stanbic IBTC Stockbrokers, while commenting on the rationale behind the move, described it as the organisation’s way of empowering individual investors to trade in Nigerian stocks.
She said, “This is a great opportunity for new and existing investors to take advantage of. This development will enable interested persons to invest in the Capital Market through Stanbic IBTC Stockbrokers at their own pace. In addition to removing the minimum opening account balance, we have also reduced the brokerage fee for transactions executed via our online platforms from 1 per cent of the brokerage fees to 0.7 per cent; a 30 per cent reduction in commission charged”.
Titi added that potential investors can make use of its self-service options available via the Stanbic IBTC Stockbroking App on the Google Play and Apple stores, as well as its e-Trading portal available at http://www.stanbicibtcstockbrokers.com.
“Leveraging on technology, we have also made it easier to open a stockbroking account with us via our mobile and web platforms”, she stated.
With Stanbic IBTC Stockbrokers, your stockbroking portfolio is easy to monitor and operate, giving you access to investment opportunities and market information – especially with the use of the Stanbic IBTC Stockbroking App, which offers convenience in a secure trading environment, anywhere and anytime.
Stanbic IBTC Stockbrokers remains committed to upholding its high standard of service delivery and transparency while also providing bespoke services to its clients.