FREQUENTLY ASKED QUESTIONS

Q1: I have some money, how do I open an account?
Q2: Do I need to have an account with you before you can trade on my behalf?
Q3: What are your requirements to open an account?
Q4: How do I credit my account?
Q5: How long will it take for an account to be opened on my behalf?
Q6: Can I open stockbroking accounts for my children, what is used as signature?
Q7: Do I get log-in details to enable me view my account details online?
Q8: I already have an account with another stockbroking firm, could I open another with Bridge Securities Limited
Q9: Can one have 2 CSCS account numbers?
Q10: Do I get log-in details to enable me view my account details online?
Q11: If yes, how do I make payments from outside Nigeria?
Q12: What are your commission rates?
Q13: What are your commission rates?
Q14: How long does it take to verify a certificate?
Q15: Do you do Margin trading?
Q16: What is Margin trading?
Q17: What are the requirements for opening a margin trading account?
Q18: To qualify for margin, what stocks can be used as collateral / security?
Q19: What are the rates and charges on a Margin account?
Q20: How do I get market research materials?
Q21: What stocks should I buy, why?

Q1: I have some money, how do I open an account?

A: Download and fill out account opening forms from our website www.thebridgesecurities.com, we have an OCEANIC account where payments are made.

Q2: Do I need to have an account with you before you can trade on my behalf?

A: Yes, you need to open account with CSCS through us to be able to trade on your behalf.

Q3: What are your requirements to open an account?

A: You need a photocopy of either your Driver’s License or Passport, Utility bill and a passport photograph, N50, 000 in cash and or shares.

Q4: How do I credit my account?

A: You need to make payment into our Oceanic Bank, Account No. 000-9311-254, Muri Okunola Branch, Victoria Island using the name of the beneficiary and contact us.

Q5: How long will it take for an account to be opened on my behalf?

A: Accounts are opened within 48 hours of submission to CSCS and you will be notified by our customer service unit.

Q6: Can I open stockbroking accounts for my children, what is used as signature?

A: Yes you can open stockbroking accounts for your children which are called ITF (In Trust For), you could either use your signature or your surname and their initials, passport photographs are usually required.

Q7: Do I get log-in details to enable me view my account details online?

A: Yes, the log in configuration enables you to view your account details online and equally transact business with us with ease.

Q8: I already have an account with another stockbroking firm, could I open another with Bridge Securities Limited?

A: Yes, the law allows an individual to have more than one stockbroker

Q9: Can one have 2 CSCS account numbers?

A: Yes, it is possible but there will be certain characteristics that must differentiate them such as clearing house number (CHN)

Q10: I don’t live in Nigeria; can I open an account with Bridge Securities Limited?

A; Yes, we have a large number of clientele base outside the country.

Q11: If yes, how do I make payments from outside Nigeria?

A: Payments are made into our Oceanic domiciliary accounts.

Q12: What are your commission rates?

A: For Buying: 1.5% of consideration For Selling: 1.5% of consideration

Q13: Can u assist in verifying my certificates?

A: Yes we can.

Q14: How long does it take to verify a certificate?

A: This is dependent on registrars but certificates leaves our office within 24hrs of arrival.

Q15: Do you do Margin trading?

A: Yes we do.

Q16: What is Margin trading?

A: Margin Trading is a brokerage account that permits a brokerage client to buy securities by borrowing a portion of the purchase amount from Bridge Securities Limited. i.e accessing a third party fund.

Q17: What are the requirements for opening a margin trading account?

A: N1, 000,000, cash or stocks equivalent, 2 passport photographs, N25, 000 in cheque payable to Central Securities Clearing System (CSCS) to open a special account.

Q18: To qualify for margin, what stocks can be used as collateral / security?

A; We have a list of stocks called marginable stocks they are strictly blue-chip stocks.

Q19: What are the rates and charges on a Margin account?

A: The rates and charges are dependent on the cost of funds as such reviewed quarterly.

Q20: How do I get market research materials?

A: The moment you become our client you’ll have access to our daily and weekly market report via electronic mails.

Q21: What stocks should I buy, why?

A: We forward a daily market report to our clients; this report will put your question right