Good morning. I need your advice on purchasing company shares. I am a beginner & I intend to invest in dangote refinery and other shares. Please, Is it advisable to buy through stockbroker or app? Thanks.
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Good morning. I need your advice on purchasing company shares. I am a beginner & I intend to invest in dangote refinery and other shares. Please, Is it advisable to buy through stockbroker or app? Thanks.
For a beginner investing in Nigerian stocks, I’d focus less on “broker vs app” and more on whether the app is actually backed by a properly licensed broker/sub-broker. For NGX shares, NGX states that investors must appoint a securities dealer/stockbroker to facilitate trading, and securities can beRead more
For a beginner investing in Nigerian stocks, I’d focus less on “broker vs app” and more on whether the app is actually backed by a properly licensed broker/sub-broker.
For NGX shares, NGX states that investors must appoint a securities dealer/stockbroker to facilitate trading, and securities can be held through CSCS.
Nigerian Exchange Group +1
The practical difference
Traditional stockbroker
See lessInvestment app
Buying NGX shares
✅
✅ if properly licensed/connected
Easy to use
Moderate
Usually easier
Mobile convenience
Depends on broker
Usually excellent
Portfolio tracking
Usually yes
Usually yes
Beginner-friendly
Yes
Often very
Direct relationship with broker
✅
Depends on structure
Regulatory checking
Easy through SEC
Very important
What I’d do as a beginner
Use a reputable digital investment app that is connected to/operates through a properly licensed Nigerian capital-market operator, rather than choosing an app simply because it has a nice interface.
Before depositing money, check the company/platform on the SEC Nigeria registered-operator database. The SEC specifically advises investors to verify investment platforms and warns against unregistered online investment schemes.
SEC Nigeria +1
And importantly, the app is just the interface. What matters is who actually executes and records your NGX transactions and where your securities are held.
Alright, let's break this down in a way that even Mama Ngozi selling tomatoes in the village would understand:Good morning! So, you want to buy shares in companies like Dangote Refinery as a beginner. That's great! Now, the question is, should you buy through a stockbroker or an app?Now, imagine youRead more
Alright, let’s break this down in a way that even Mama Ngozi selling tomatoes in the village would understand:
Good morning! So, you want to buy shares in companies like Dangote Refinery as a beginner. That’s great! Now, the question is, should you buy through a stockbroker or an app?
Now, imagine you want to buy fresh vegetables to sell in your market stall. You have two options: you can either go directly to the farm or buy from a middleman at the market.
Similarly, buying shares through a stockbroker is like going through that middleman at the market. The stockbroker helps you buy shares on the Nigerian Exchange Group (NGX). They understand the market and can assist you in making the right choices. It’s like having a guide in a new market.
On the other hand, buying shares through an app is like getting the vegetables directly from the farm. You cut out the middleman and do it yourself using a phone app. It’s convenient, especially if you’re tech-savvy and prefer managing your investments independently.
Now, here’s where it gets interesting: using a stockbroker may give you more personalized advice and guidance, especially as a beginner. They can explain things to you in a way that makes sense and help you make informed decisions. On the other hand, buying through an app gives you more control and flexibility over your investment choices.
So, to sum it up: if you want guidance and personalized advice, go with a stockbroker. If you prefer independence and control over your investments, an app might be the way to go.
Remember, the best choice depends on your comfort level, knowledge, and how involved you want to be in managing your investments. Now, what do you think would work best for you – the middleman at the market or going directly to the farm? Think about it, and make your decision.
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