A damning report of the 3rd edition of the online trading portals’ ranking by Proshare NG was released in October 2017, showing that many stock broking firms were yet to have effective online portal.
Whereas, the infrastructure, is acquired by them, could put them on a higher business pedestal and wrought for them locally and internationally, great opportunities for business development.
However, unlike the 1st and 2nd editions released in H1 and H2 2016, which focused on trading portals owned by Capital Market Operators trading on the floor of the Nigerian Stock Exchange, this particular edition was a step ahead to include FX trading portals like MERIFX, Eagles Global Market, HFTM etc.
The result of the online trading ranking portal survey carried out between July 4 and August 15, 2017, reflected that out of the 275 responses received from users, 38.18% of the responses were in favour of Meritrade; 22.18% in favour of Mytradebook, while 20.36 per cent were in favour of Easytrade.
It also showed that 7.64 per cent was in favour of APTetrade; 3.27 per cent in favour of MorganCapital i-Trade; 1.09% each in favour TRW e-Trader; 0.73% each in favour of InvestNow and CityTrade; and 0.36% each in favour of Stanbic IBTC e-Trade, Afrinvestor and LeadTrader, respectively.