Stanbic IBTC removes minimum account-opening balance for individuals




Stanbic IBTC Stockbrokers, a subsidiary of Stanbic IBTC Holdings PLC, and Nigeria’s largest stockbroking firm with a market share of over 10 percent of the value of shares traded on the floor of the Nigerian Exchange Limited has removed the minimum stockbroking account-opening balance for individuals who open an account via its mobile app or electronic trading (e-Trade) platform on its website.

The organisation 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 to enjoy the inspirational services provided by Stanbic IBTC Stockbrokers.

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 percent of the brokerage fees to 0.7 percent; a 30 percent 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.

No tags for this post.