ARMStocktrade - Frequently asked questions

What is ARM STOCKTRADE?

ARM STOCKTRADE is a self-service online trading portal that allows ARM Securities’ client’s trade in real time via an internet enabled device from the convenience of their homes/offices.

What are the benefits of ARM STOCKTRADE?

Trade on-the-go
Instant transaction confirmation
Convenience and control over investment activities
Direct market access and full order management capabilities
Access to robust research materials including stock recommendations.
Automated contract note notification
Fast Reliable execution
User-Friendly Trading platform
Competitive pricing
News and trade sensitive alerts

What are the requirements to use ARM STOCKTRADE?

How do I open an ARM STOCKTRADE account?

Individual and Corporate accounts can be opened by completing our account opening form online at www.armstocktrade.com. You would be required to upload supporting KYC documents or forward documents via email to customerservice@armsecurities.com.ng

What are the KYC documents required to open an account?

You are required to upload scanned copies of the following documents when filling the online account opening form:

INDIVIDUAL

Recent passport photograph
Means of identification (driver's license, international passport or national identity card)
Utility bill (Not older than 3 months)
Signature specimen

CORPORATE

Certificate of Incorporation
Duly executed Board Resolution approving account opening.
CTC of CAC Form CO7 and Company Utility Bill
For each signatory:

Means of Identification
Passport photograph
Signature Specimen

What happens if I submit my account opening application without complete KYC documents?

Sensitive and private data exchange between the Site and its Users happens over a secured communication channel and is encrypted and protected. Transactions are also handled over a secure payment gateway.

What happens after I submit my account opening application with complete documentation?

You will receive an email confirming receipt of your application. Once complete KYC documents have been verified, you will be notified of an opened CSCS account no later than 48hrs of completing the form after which you may proceed to fund your account and start trading.

Can I open an ARM STOCKTRADE account even if I am not in Nigeria

Yes, you can open an ARM STOCKTRADE account and be active from any part of the world.

What is the brokerage fee charged on ARM STOCKTRADE?

ARM STOCKTRADE’ brokerage fee is a flat rate of 1% on transactions executed.

What type of transaction costs do I need to pay in order to trade online?

ARM STOCKTRADE’ brokerage fee is a flat rate of 1% on transactions executed.

Asides the brokerage fee charged by ARM Securities, other statutory charges apply. See Below;

TRADE	STATUTORY CHARGE	FEE
BUY	SEC	0.3%
BUY	STAMP DUTY	0.075%
SELL	CSCS	0.3%
	NSE	0.3%
	STAMP DUTY	0.075%

Please note there is N4 flat per line transaction for trade alert

Who will manage my account?

ARM STOCKTRADE has effectively put the management of your brokerage account in your palms. With ARM STOCKTRADE you are in charge of managing your account. You can manage the activity in your brokerage account from anywhere in the world at any time of the day as long as you have access to the internet.

How can I make payments?

Payments can be made through any of the options below:

Cash Deposit
Cheque Deposit
Online Transfer
QuickTeller
WebPay

How do I place a buy and sale order?

You can place your mandate via our online trading portal (ARM STOCKTRADE). Sign in to trade.

Is My Online Trade Executed Immediately?

Online trades may not always be executed immediately as a result of delays caused by market trade volumes, slow internet connection and order queues., However, matched trades should be executed immediately.

I am new in the Capital Market and don't know how to go about stock selection.

ARM Research provides you with insights on the Nigerian Equities market and up-to-date market analysis to better inform your decision making enabling you to position yourself strategically. Investors are also exposed to a detailed equity comments and stock recommendations.

How do I monitor the stock prices

A Daily Price List of the Nigerian Equities would be uploaded to the portal and sent via email to all clients

Can I access your research reports?

As a Client, you have access to ARM Securities research reports.

Can I submit or amend orders via email?

ARM STOCKTRADE does not accept submissions or amendments of orders via email. All orders and cancellations must be placed through our recognized trading channels, which is ARM STOCKTRADE Trading Portal.

How do I know that my order has been executed?

Once your trade is executed, an SMS will be sent to your mobile number. A Contract Note also sent to you via email giving you details of trade executed on your behalf

Which market can I trade online?

At the moment, you can trade on all stocks listed on the Nigerian Stock Exchange

When can I submit my order?

24 hours a day, 7 days a week. When the market is in session, your order(s) will be routed directly to the dealer's representative. However, if the market is closed, your order(s) will be routed to the dealer's representative in the next session when the market opens.

How will I know that my trade has been submitted?

When an order is successfully submitted, you will receive a confirmation and an order number will be assigned to that order.

If I am disconnected while sending orders, what should I do?

If you are disconnected while sending an online order, reconnect and check your order at the Pending Order status screen. If your order did not go through at the time of disconnection, you will need to resubmit the order again.

Can I revise an order?

You may revise a pending order that has not been matched in the market. A revision is only Possible for the Quantity of the order. To revise the price, you will have to cancel the Entire order and submit a fresh order. If you are away from your computer and wish to revise an order, you may call our customer service representative on (+234) 01 271 5002 for assistance

Can I cancel an order?

You may cancel a pending order as long as it is not matched in the market. If you are away from your computer and wish to cancel your order, you may call our customer service representative for assistance.

What will happen to my unexecuted orders at the end of a trading day?

All unmatched orders for the day will expire at the end of that trading day. However, depending on the mandate term, it may automatically re-queue at each trading session until it is matched or the instruction expires.

What happens if I submit an order after the market is closed?

An order submitted after the close of the market is classified as a Standing Instruction. You may view and manage these standing instructions at the “Pending Instruction” screen. Your order will be queued for execution when the market opens on the next trading day

What happens if I make a mistake, such as buying or selling the wrong stock?

Once a trade is matched, it is immediately executed. We advise you to exercise caution in your choice of stock and extra care in the online submissions of your orders.

How do I set up my stock portfolio on the trading portal??

The system will manage your portfolio for you. This portfolio will be automatically updated whenever a buy or sell order has been matched.

How do I view my historical data?

All historical data may be viewed from the "My Order" screen. Click on the Status drop-down button from the respective "Order Status" options (except "Pending Order" screen) and the historical data screen will pop up.

What is a Limit Order?

A Limit Order is a Buy or Sell mandate with a specified price limit. In this case, the order will not be completed at a price higher for a Buy Order or lower for a Sell Order than the specified price. While this type of order offers the investor some security in the cost of the transaction, it also narrows the possibility of an executed order. An investor would commonly use this type of order if he wants to achieve a targeted price during a specified time period.

What are the available trading terms?

Fill or Kill; This is a type of time-in-force trading that requires a trade be executed immediately and completely or not at all. In other words, the order must be filled in its entirety or canceled (killed).
Good For 7days;This specifies that a trade order is valid for seven (7) days until it is cancelled by the person who placed the order or it expires. If it expires, a new order would be required to validate the mandate
Good for a day;This specifies that a trade order is valid for only one (1) day until it is cancelled by the person who placed the order or it expires. If it expires, a new order would be required to validate the mandate
Immediate or Cancel; This type of time-in-force trading technique specifies that at the point of posting a trade, if it is not executed immediately it hits market; it is cancelled (killed). e trade active.

If I have more than one trading account, how do I ensure that I trade under the desired account?

In the 'Buy/ Sell Applet' click on the little arrow under 'Account No/ Name'. Your trading account/s maintained with ARM Securities will appear. Click on the desired account to trade.

Can I transfer my account from my present Stock broker to ARM STOCKTRADE?

Yes you can transfer your account from one stock broking house to another. This has been made very easy by the CSCS and this happens at no cost. All you have to do is contact customerservice@armsecurities.com.ng a sample of a stock transfer letter will be sent to you to adopt. Once we receive the instruction from you along with complete KYC requirements, we will initiate the transfer through the CSCS at no cost whatsoever.

What if I want to open an account with ARM STOCKTRADE and still maintain my current stockbroker?

You may maintain your existing stockbroking account while we open a new one for you, using the same CHN (Clearing House Number), but different account number with the CSCS.

In what situations would an order be considered unacceptable?

An order will be considered unacceptable in any of the following situations:

A counter has not been selected
The stock quantity is less than or equal to zero
The stock price is less than or equal to zero
The stock price has exceeded the upper or lower price limit allowed
You have no trading limit
You have exceeded your trading limit
Your trading account has been suspended
Your account has not been activated

Frequently asked questions

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