WIKIFX REPORT: Stanbic IBTC Stockbrokers Begins Zero Balance Account Opening, Cuts Brokerage Fee

In order to encourage more investors to use its platform to achieve wealth generation and preservation through capital market investments, Stanbic IBTC Stockbrokers has commenced zero balance account opening.

Before now, it was easier for prospective retail investors to make a camel go through the eye of a needle than opening an account with Stanbic IBTC Stockbrokers because at least N5 million was needed to dream of it.

But to attract more investors, especially the millennials and the Gen-Z demographics, the company 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.

A statement from the firm said 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.

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 one per cent of the brokerage fees to 0.7 per cent, a 30 per cent reduction in commission charged,” the CEO of Stanbic IBTC Stockbrokers, Ms Titi Ogungbesan, stated.

She 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 https://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, an investors stockbroking portfolio is easy to monitor and operate, giving users 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 is a subsidiary of Stanbic IBTC Holdings Plc and Nigerias 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 (NGX) Limited.

The organisation has assured that it remains committed to upholding its high standard of service delivery and transparency while also providing bespoke services to its clients.