By NKIRUKA NNOROM
Morgan Capital has joined the list of other stockbroking firms in the quest to make investing in the capital market easy with the introduction a new online real-time trading platform called MorganCapital iTrade.
The introduction of MorganCapital iTrade has brought the number of online trading platforms in the Nigerian capital market to four.
The trading platform empowers investors with direct access to the Nigerian Stock Exchange (NSE) to execute sell and buy mandates online real time anywhere in the world.
The Managing Director, Morgan Capital Securities Limited, Mr. Ayoleke Adu, told Vanguard that launch of MorganCapital iTrade marked the introduction of the first real-time online trading platform in the capital market, adding that it is another way the company ensures that its customers enjoy world-class stockbroking experience.
The Morgan Capita boss, who said it took two years to develop the platform, noted that its customers would enjoy the full view of real time market data and analytics at an astounding brokerage fee of just 0.25 per cent.
According to him, unlike other platforms, where the investors send the orders to stockbrokers, who in turn key them into the system, with Morgan iTrade, the investor can key in orders directly by themselves.
“With Morgan Capital, you are seeing the orders yourself. When you click on any equity, you see all the orders, all the people who want to sell or buy that equity. With that, you already know whether you have more buyers or sellers and at what prices. That will assist you to take decision by yourself. It makes your decision taking to be very fast and in transparent manner. So, there will not be complaints of brokers short-changing you,” he said.
He stated that the launch of the online trading platform is in conformity with international best practice of stockbroking, saying that the new NSE trading technology has made it possible for that to happen in Nigeria.