Stodec trading options26 comments
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Sunday, 08 April at Saw this somewhere online and i felt i should share it. I use the new MorganCapital iTrade platform and it is beyond comparison even with meritrade. With MorganCapitaliTrade however, you are your own broker, your mandates are keyed into the NSE trading engine directly by you, in milliseconds, with no human interference and at your own fair price which you can determine because you can see the bid and offer sizes REAL TIME as they change in miliseconds through MorganCapital's access.
I am yet to see any stock broking firm in Nigeria that matches this level of empowerment to its customers. With other trading platforms, your broker still has the capacity to trade against you in a trading day, since they aggregate all orders for upload to the NSE. For example, if you place a buy mandate for Oando on Tuesday 24th June, at N35 when the stock had gone on Full offer without your knowledge Full offer means: I am sure you would not have placed a buy mandate for Oando at N35 if you had seen that the stock had about 20m units on full offer at that time.
You would have rather waited until it has fallen to a reasonable price. This same applies to when you now want to sell Oando at N If you had the opportunity to see the market, why would you have sent an order to your broker to sell Oando when it is now on Full bid and you can see that the price has started going up. The truth is that: You cant decipher the costs you are bearing from inefficiencies of human interference.
The MorganCapitaliTrade completely eliminates this from happening because you can Buy and Sell at the best market price or any limit price you choose to make, which you can see as it changes in miliseconds. You can also see if your orders are realistic or not in terms of the price you want to buy or sell into the market.
With other trading platforms, you may or may not have access to delayed historical market data and analytics. Most of what you have on other trading platforms today, are yesterday's stock prices, and they expect you to place your orders using those prices and yet deceive you that you are doing online trading. If you were relying on yesterday information, you would be selling your Oando instead of holding it until it reaches a comfortable price given the sudden change in its outlook to FULL bid.
This is how time-bound the market is!!! Any platform that does not empower you to trade this way, is simply not it. Anyone with a counter opinion can tell me any other platforms with such capacity. Like MTN move from good to best. Buying at day's opening price and selling at day's high price is very possible but its a function of demand and supply and how fast you are.
The key thing is that with MorganCapitaliTrade you have been empowered to do so. Definitely, since you have access to the real-time trading engine you sell and buy same stock in a single day. Pls what are the things one should know before venturing into the trading in the stockmarket. Is there a course I should take, a skill I should have or maybe a certification?
I am a novice and I am highly interested in learning. Thank you for any advice. I have always been interested in being an investor and trading in the Nigerian stock exchange but do not know how to go about it.
From my little research facebook, nairaland et al you are experienced in these areas. Please I would like you to help me out on how and what to do as i am a novice and have strong background in Science Physics and Maths Thanks in advance How much to open an account with them N20, is the minimum amount to open an account wit MorganCap but be ready to pressure the customer service to get your account opened in time as they seem to be overwhelmed for now.
N20, is the minimum amount to open an account wit MorganCap but be ready to pressure the customer service to get your account opened in time as they seem to be overwhelmed for now. You are right boss, but they still sort out account opening in 72 hours. Personally i have introduce few clients to them in the last few days. The thing is once your account is opened you can start trading yourself, with no human interference and i think that's fantastic they the only stockbroking firm offering real-time stock trading in Nigeria.
I wud also be interested in knwn hw d stock exchange trading works. Any info wud be appreciated. Thank you for any advice You need to learn as much as you can before embarking on trading in the stock market. You have full responsibility for any profit you make or any loss you incur. I learnt mostly by reading books and online content. I suggest you do the same and trade very small amounts to get a proper hang of the system. The only skill you need is knowing when to buy low and sell high.
You do not need any certification to trade on the portal. You need to learn as much as you can before embarking on trading in the stock market. Thanks for your reply. Pls do they have real time trading platform like a meta4 forex trading platform? I have sent my necessary document for aCcount opening to morgancapital. Its over two weeks and my account details is yet to be sent to me. How long does the account opening process take??
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