How to make money trading stocks at home20 comments
Invertir mejor opciones binarias online
Thursday, 05 April at This article provides a step by step guide on how to invest in the Nigerian Stock Exchange. We will also highlight a number of factors peculiar with the Nigerian stock exchange that we think you should know before investing. Who is this article for? If this is your first time of investing in stocks, then this is also for you If you just read a book about investing in equities and feel this is the best time for you to test the waters, then this is for you. If you are interested in investing in the Nigerian stock exchange and wish to get a fair and balanced insight into what to expect, then this article is also for you.
If you are a complete novice with stocks then read this first What is the official market for trading stocks in Nigeria? In Nigeria, you can only buy and sell shares of publicly quoted companies solely from the Nigerian Stock Exchange which is based in Lagos.
How do I start? Before you start trading equities in Nigeria, you will need to open a brokerage account with any of the approved stock broking firms in Nigeria. Upon application, you will be required to provide a means of identification, bank account details including BVN, passport photographs, signatures of account holders, next of kin details if it is a personal account etc.
It takes less than 48 hours to open an account provided you have a bank account. Some stockbroking firms also have online trading platforms, meaning you do not need to visit the stockbroking firm physically.
Just visit their portals and upload all the information that they need. What else do I need to have? CSCS is a market aggregator that warehouses all the accounts created and maintained by all stockbrokers in Nigeria.
By owning a CSCS account, you can also view your portfolio independent of your stockbrokers and see what stocks you own. This is important as it helps you mitigate fraudulent activities. It cost between N2k and N5k per annum. How do I start trading? To start trading in equities, you are expected to have opened a stockbroking account.
To trade, simply deposit money with your stockbroker and instruct them to purchase shares for you on your behalf. The means of communications is typically with your registered email. However, it is easier using their online trading platform, which allows you to buy and sell stocks on your own. Through online trading portals, you can place bids or offers which usually terminates within seconds of being received.
You should also get emails from your broker once you place bids and offers, and when the transaction goes through. Transaction fees Transaction fees are charged any time your bid or offer goes through.
There are statutory fees that you pay to regulators and those you pay to your broker. Statutory fees are fixed while broker fees vary between the range of 1. Taxes There are no capital gains taxes on buying and selling of equities in Nigeria. Clearing of funds When you buy or sell stocks, it usually takes about 4 days before the entire transaction is concluded.
Withdrawals After you sell equities, your cash remains in the account of the broker till you request for a withdrawal which takes within 24 hours to be completed.
To withdraw using an online brokerage account, just visit the portal and click withdrawal. Some brokers also require emails for your withdrawals to be paid into your accounts. Remember, the account where your cash will be credited is the bank account you provided when you registered. Trading time The Nigerian Stock Market usually opens for trading at 9. During pre-markets, you can place bids or offers and catch a glimpse of how the prices of stocks and the market as a whole might open officially.
Pre-markets close by The market then officially closes at You should read about I wrote a sentence, so I am legitimately first to comment. Finally I made it The person down has something to say You made it to where? It's better they follow this page http: You can practice investing in Nigerian Stock Market without putting any money. It is a real-time simulation of the stock market. You can also win prizes as the website does run competitions.
You can get charts, ratio analysis, technical analysis and updates from stocks listed on the exchange. The Nigerian Stock Market is still the best place to invest for long term profits you only need to be duly informed to benefit from this lucrative investment pool. I really love the leadership of Madam Ndi Okereke Onyuike that woman na wonder, she really brought some dynamism to the capital market back then,.
Invest in the Nigerian stock market at your own peril. Most of the so called 'blue chip' companies have remained penny stocks for years. A lot of fraud going on there. What's d difference btw this and bet9ja? Agreed on your observations however I will say that the stock market being the barometer of economic transactions in a Country! After all this long aeticle. There still aint any step by step example for the laymen. Is the stock trading a profitable venture? Or is as risky as ponzi and bet9ja and co?.
How much should be the minumum amount for investing? Stock exchange for me and my household is a no no, I rather move into crypto than naija stocks. Stocks where insider trading is the norm, abeg I will pass. My uncle told me about his shares.
Ever since then I have been monitoring lasaco shares, both in boarding house I run to the library to read newspapers. Nonsense wayo stock market Team Money market.