FREQUENTLY ASKED QUESTIONS
How long has Nova Finance and securities Limited been in existence?
Nova Finance and securities Limited was duly registered by the Securities and Exchange Commission as a broker dealer and was also granted a Dealing Membership license by the Council of The Nigerian Stock Exchange 2009
What is Nova Finance and securities Limited Stockbroking Account Opening requirement?
The minimum amount required to open a Nova Finance and securities Stockbroking account is NGN50,000 or transfer of shares from another stockbroking firm.
How do I fund my stockbroking account for stock purchase?
You can do this via a cheque deposit or internet banking fund transfer.
Can I view my stock portfolio online?
Yes, At the point of account opening, you will be given login credentials that will enable you view your stock portfolio. Immediately you open a Nova Finance and securities Stockbroking Account, submit the necessary KYC documentation and fill out the CSCS account opening forms; your login details will be generated automatically and sent to you via e-mail.
Would I get an alert or notice when my trades are executed?
Yes, you will receive an automatic alert through email and via sms.
Can I use my shares as a collateral for loan from a Bank?
Definitely. Once you intend to use your shares for this purpose, you need to write a letter to Nova Finance and securities Limited for lien placement on your stock portfolio informing Nova Finance and securities of the Bank of Financial institution that you want to get a loan from.
If I forget my login password, how do i reset it?
Once you click the “forgot password button”, your password will be refreshed and a newly generated password will be sent to your e-mail address.
When I sell my shares how do I get my funds back?
Once your shares are sold and the trades has settled; please send an instruction to Nova Finance and securities to the funds to your bank account.
I don,t understand what you mean by MARKET order
Whenever you want to buy or sell shares on the Nigerian Stock exchange market, you can indicate to Nova Finance and securities that our brokers should buy or sell a stock for you at prevailing market price immediately there is a supply at the current market trading price.
So, what is a LIMIT order
As the name implies, this is when you set a target or cut-off price for your buy or sell mandates. Meaning that the broker should not buy or sell unless that price you set is reached.