FAQ
Questions investors actually ask.
Everything from opening an account to where your shares physically live. If yours isn\u2019t here, the desk answers weekdays 8am to 5pm WAT.
GETTING STARTED
How do I open an account?
Entirely online, in about five minutes: your name, phone and email, then BVN and NIN verification, a quick face check and a short risk questionnaire. Your account number, CHN and wallet are issued immediately — no branch visit, no paper forms. Start here.
What happens after I open the account?
Fund your wallet by transfer to your personal virtual account (or QR, card, USSD) and you can invest right away. Completing the six-step KYC — address, next of kin, a valid ID and your bank details — unlocks full trading limits and withdrawals.
Can I transfer my account from my present stockbroker?
Yes. Accounts move between brokers through CSCS at no cost to you. Your CHN and your holdings are yours, not your broker’s — transferring changes who executes for you, never who owns the shares.
Can I keep my current stockbroker and still open an account here?
Yes. Your Clearing House Number (CHN) supports accounts at multiple brokers at once — we simply open a new CSCS sub-account under your existing CHN.
I live outside Nigeria — can I invest?
Yes. The full platform works from anywhere in the world, and diaspora investors can fund in USD, GBP or EUR at the live rate. Nominee and custodial arrangements are available if you prefer added discretion.
TRADING & ORDERS
How do I place a buy or sell order?
From any instrument page: choose units, see the complete fee breakdown, and authorise with your transaction PIN. Orders route to NGX during trading hours (weekdays, 10:00–14:20 WAT).
How do I know my order has been executed?
You’re notified the moment it fills, and a contract note — the legal record of the trade with every fee itemised — appears under Statements the same day.
When can I use the money from a sale?
NGX settles trades T+3 — three business days after execution. Sale proceeds appear in your wallet at settlement and can be reinvested or withdrawn from then.
How do I follow the market and find gainers and losers?
The markets screen carries live prices, the day’s gainers and losers, and per-stock charts. Add instruments to your watchlist to track them from your dashboard.
I’m new to the market — how do I choose stocks?
Start with the platform guide and glossary, then lean on our research: clients receive equity analysis and market commentary from the same desk that has covered NGX for three decades. Diversify, invest amounts you can leave alone, and let time do the compounding.
FEES & MONEY
What does trading cost?
Brokerage of 1.35% plus small statutory levies (NGX 0.03%, SEC 0.03%, CSCS 0.06%) and VAT on the brokerage and CSCS portions — about 1.58% all-in, itemised on every ticket before you confirm. See the worked example. Opening an account, funding, holding and receiving dividends are free.
How do deposits and withdrawals work?
Deposits credit in seconds through your personal virtual account, QR, card or USSD. Withdrawals go to your KYC-verified bank account — a safeguard that means your money can only ever exit to an account in your own name.
Who manages my money?
You do. The platform is self-directed: you choose what to buy and sell, and we execute. If you’d rather hand the wheel to professionals, our asset-management mandates start from ₦50,000 — see Services.
SAFETY & SECURITY
Where are my shares actually held?
At CSCS — Nigeria’s central depository — registered under your own CHN and name. They are never on Morgan Capital’s balance sheet, so they remain yours whatever happens to any broker.
Is Morgan Capital licensed?
Yes — SEC-licensed broker-dealer and issuing house, NGX dealing member since 1997, and NDPR-compliant with your data. Top-10 on the exchange by volume and value.
What is the transaction PIN for?
It is a second credential, separate from your password, required for anything that moves money — orders, subscriptions, withdrawals. Even someone holding your signed-in phone cannot spend without it.
What happens to my BVN and NIN?
They are verified at onboarding and passed to regulators or the exchange only when a transaction requires it. The raw numbers are never stored on our systems — only the verification result and the last four digits.
Still curious?
The platform guide explains every screen and every term — or reach the team on WhatsApp, weekdays 8am–5pm.