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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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maka wrote:Bykhovets wrote:murchr wrote:To transfer shares do u have to open another CDSC A/c? To transfer your holdings from one broker to another, you need to open a CDSC a/c at the broker you are transfering to. e.g. to transfer from African Alliance to Kingdom Securities, you will need to open a CDSC account at Kingdom. If your CDSC a/c number is 123456, you will transfer from B23/123456 to B11/123456. The transfer forms have to be signed by the broker you are transfering from, then you take them to the broker you are transfering to. The approval is done by the share registrar, CMA, NSE and finally CDSC. 1-2 month transaction process. That B11-B23 etc is the investment bank/brokerage code right?effectively you are not opening a new CDS account,you will maintain the same CDS account number with a different firm code... You will maintain your CDSC a/c number. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Member Joined: 8/4/2012 Posts: 155 Location: Kenya
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NIC Securities Launches mobile App for share trading http://www.nation.co.ke/...6/-/u3mf1pz/-/index.html If you don't want to go to plan B have a good plan A.
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Rank: Member Joined: 1/2/2008 Posts: 268 Location: Nairobi
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[quote=Mucene]NIC Securities Launches mobile App for share trading http://www.nation.co.ke/.../-/u3mf1pz/-/index.html[/quote] They also said they have launched an online trading platform, has anybody used it? The link I was given doesn't seem to work.
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Rank: Member Joined: 5/9/2014 Posts: 130 Location: Nairobi
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Certainly a good move by NIC Securities, they've been on the fore front in terms of their stock broking analysis and improvements and certainly that will create the desired competition for other stockbrokers to follow suit.
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Rank: Member Joined: 5/9/2014 Posts: 130 Location: Nairobi
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Great, I'm able to trade again on the shares that I moved from one stockbroker to another. That was in 2 and a half weeks. I moved on 30th July & traded on 18th August, 2014.
Not bad, I was tired of my previous stockbroker, I could have even taken 2 months waiting period as a few Wazuans mentioned, but I just couldn't continue with my previous stockbrokers any longer.
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Rank: Member Joined: 8/20/2008 Posts: 83
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I thought I was alone when I recently churned my long time broker to join D&B.
Was seriously manhandled on KYC issues but after fully complying, I told them to write me a cheque of my credit balance and facilitate me to migrate all my portfolio to D&B who I would start with on a clean slate; without minding of a fresh kyc re-run.
They didn't believe it. Filled the forms, but another round of struggle started. They slept on my forms for two months with their agents calling me to persuade me to change my mind but I was not interested. I had to go back and make noise for the forms to be forwarded to cdsc. Two months later, I was called by D&B. Today I trade on their online system hassle free. That other place I would have to manually appear to order and track orders. So far so good, I recommend D&B
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Rank: Veteran Joined: 12/21/2011 Posts: 1,010
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a quick one, if my current CDSC account is with one broker and i dont have any holdings and wish to transfer my account from the broker to another one and start trading again, do i still have to go through this process?
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Rank: Elder Joined: 9/23/2010 Posts: 2,225 Location: Sundowner,Amboseli
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wilyum wrote:a quick one, if my current CDSC account is with one broker and i dont have any holdings and wish to transfer my account from the broker to another one and start trading again, do i still have to go through this process? Accounts are never transferred,only shares. @SufficientlyP
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Rank: Elder Joined: 9/23/2010 Posts: 2,225 Location: Sundowner,Amboseli
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kanyimwa wrote:I thought I was alone when I recently churned my long time broker to join D&B.
Was seriously manhandled on KYC issues but after fully complying, I told them to write me a cheque of my credit balance and facilitate me to migrate all my portfolio to D&B who I would start with on a clean slate; without minding of a fresh kyc re-run.
They didn't believe it. Filled the forms, but another round of struggle started. They slept on my forms for two months with their agents calling me to persuade me to change my mind but I was not interested. I had to go back and make noise for the forms to be forwarded to cdsc. Two months later, I was called by D&B. Today I trade on their online system hassle free. That other place I would have to manually appear to order and track orders. So far so good, I recommend D&B I don't follow brokers, i follow dealers. A great dealer will tell you the nature of supply/demand whether local or foreign and will give you priority. It's also good practice to recognise their efforts once in a while...eg a bottle of wine for christmas holidays, a complimentary ticket for 2 at Serena/Sarova  etc #SecretToGreatWealth #MakingMoney2014 @SufficientlyP
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Sufficiently Philanga....thropic wrote:kanyimwa wrote:I thought I was alone when I recently churned my long time broker to join D&B.
Was seriously manhandled on KYC issues but after fully complying, I told them to write me a cheque of my credit balance and facilitate me to migrate all my portfolio to D&B who I would start with on a clean slate; without minding of a fresh kyc re-run.
They didn't believe it. Filled the forms, but another round of struggle started. They slept on my forms for two months with their agents calling me to persuade me to change my mind but I was not interested. I had to go back and make noise for the forms to be forwarded to cdsc. Two months later, I was called by D&B. Today I trade on their online system hassle free. That other place I would have to manually appear to order and track orders. So far so good, I recommend D&B I don't follow brokers, i follow dealers. A great dealer will tell you the nature of supply/demand whether local or foreign and will give you priority. It's also good practice to recognise their efforts once in a while...eg a bottle of wine for christmas holidays, a complimentary ticket for 2 at Serena/Sarova etc #SecretToGreatWealth #MakingMoney2014 Is there the need really in this day and age of Technology? You can see the demand and supply on the online platform the rest Mystockske will tell you, ama? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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