Q.
What do I need to open a stockbroking
account with you?
A. The minimum amount required to open
a Stockbroking account is =N=500 (five
hundred thousand naira) which can be
a cheque, transfer of shares already
resident with other stock broking firms
or a combination of the two. Kindly
go through the steps to opening a Stockbroking
account on this site.
Q. How do I monitor my stocks?
A. You can monitor your stocks and
access your stockbroking account by
logging on to www.edcsecurities.com
using your given access code and pass
code.
Q. How do I know when trades
are executed on my behalf?
A. An automatic trade notification
e-mail will be sent once a trade is
carried out on your account, hence,
the need to provide your current and
functional email address.
Q. Will EDC give me regular
advice that guides my decisions?
A. Our clients have access to our
highly acclaimed research reports
and stock select that help guide investment
decisions.
Q. How long does it take
for my certificates to get verified?
A Once all documents required for
verification are provided, your certificates
could be verified within two weeks
of submission with your stock broker.
Certificates may sometimes take longer
to verify. Please ask your stock broker
for requirements for certificate verification.
Q. How do I deposit my certificates
and what happens after?
A. You can only get your share certificates
verified through a stock broking firm.
You have to take your certificates
to a stock broking firm where you
will fill in/sign forms including
the Transfer Form and the Know Your
Client (KYC) Form. They will process
the certificate(s) and take them to
the Registrar, who will verify them
and then send information to the CSCS
about the verification. The CSCS will
complete the transaction and credit
your CSCS Account accordingly.
Q. Why do I need Banker’s
Confirmation?
A. Banker’s Confirmation is
needed when the Registrar cannot verify
a client’s signature on the
Transfer Form sent to them with the
sample they have stored in their database.
Banker’s Confirmation will also
be needed if the Registrar does not
have a sample signature for the client.
With a Banker’s Confirmation,
your bank is confirming to the Registrar
that they know you and that you have
an active account with them. They
are also confirming to the Registrar
that the sample signature you have
signed on the Banker’s Confirmation
is indeed your true signature.
Q. Why do I need to write
to the Registrars for my own missing
certificates and not EDC?
A. When making any request to the
Registrars for missing certificates,
you are doing it through EDC and your
letter should be addressed to the
Registrar directly, but submitted
to EDC for processing. EDC will then
write a cover letter and take the
documents to the Registrars on your
behalf. We will follow up with the
Registrars and update you with the
outcome as soon as we have feedback.
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