Frequently Asked Questions

Q. What is Stanbic IBTC Stockbrokers Limited?
A. Stanbic IBTC Stockbrokers Limited (“SISL”) is the new name of the brokerage business which evolved as a result of the merger of the brokerage businesses of Stanbic IBTC Asset Management Limited (“SIAML”) and Stanbic Equities Limited (“SEL”).

Q. Do I need to fill another account opening form for the new company?
A. Where you already have an account with either of the companies before the merger, you will automatically have an account in the new company and will not be required to fill a new set of account opening forms. 

Q. How will the merger affect clients that have accounts with both houses?
A. Clients who maintained separate accounts with both houses before the merger will be advised and their accounts consolidated as one.

Q. What do I need to open a stockbroking account with you?
A. The minimum amount required to open a Stockbroking account is =N=5m (five million naira) which can be a cheque, transfer of shares already resident with other stock broking firms or a combination of the two. Kindly go through the steps to opening a Stockbroking account on this site.

Q. Would your procedures as regards placing of mandates, verification of certificates etc change?
A. Most of our procedures will remain the same; however, any change in procedure will be communicated accordingly.

Q. How do I monitor my stocks?
A. You can monitor your stocks and access your stockbroking account by logging on to www.sislbrokerage.com using your given access code and pass code.

Q. Can I pay cash into my stockbroking account?
A. You can only deposit a maximum of N50,000.00 directly into your stockbroking, any amount exceeding this would have to be either by cheque, draft or transfer as stipulated in the Securities and Exchange Commission regulations.

Q. How do I know when trades are executed on my behalf?
A. An automatic trade notification e-mail will be sent once a trade is carried out on your account, hence, the need to provide your current and functional email address.

Q. Can I use my shares as collateral for loan?
A. Yes, you can. You would be required to write a letter stating the company you are taking the facility from and the stocks you intend to use as collateral for the loan.

Q. How can I be sure that after the merger I will still get the kind of service I desire?

A. Clients of both houses can be rest assured of receiving continued excellent services which will be enhanced a result of the merger of the two businesses.

Q. Will SISL give me regular advice that guides my decisions?
A. While we are an execution only brokerage house, our clients have access to our highly acclaimed research reports and stock select that help guide investment decisions.