How does Online Trading work in Nigeria?

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Gone are the days when you had to call your stockbroker by phone to place an order. This was not only very expensive but was also time-consuming.

This old practice has been replaced and brokers now deploy online trading Apps that reduce human input and let you place trades on your own. This has cut cost drastically and put the power in the investor’s palms.  These Apps are accessible to even the people in the villages who may not be tech savvy hence they wonder how online trading and investing works.

To invest you need to settle for a stockbroker to link you to the stock exchange, download the brokers App, register and open a client account with the broker, then start investing or trading. There are over 328 listed Stocks on the Nigerian Stock Exchange (NGX) to choose from and there are also several SEC registered stockbrokers you can choose from. It takes days at max. (T+3) for stock to be delivered to your account after paying…

Read full article at dailytrust.com