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Account Opening
What is a CDS account?
It is an electronic account that holds securities/ stocks/shares. If you intend to trade in shares that are listed on the Nairobi Securities Exchange, you have to open a CDS account.
How do I open a CDS account?
You can open your CDS account by going to the ‘Online Trading’ section, click on ‘Register for Equities Trading Account’, fill in the form and attach all the required documents.
How much does it cost to open an account?
Opening a CDS account is free.
How do I know that my trading account has been opened?
Once we receive your dully filled form and the requisite documents, we will open the CDS account for you and give you a confirmation through email with your CDS account number.
Trading
How do I start trading?
Once your CDS account has been opened, you can deposit money through M-Pesa or to any of our bank accounts.
| MPESA Go to M-Pesa Menu Select Lipa na M-Pesa Select Pay bill Enter business no. 888900 Enter your account number (CDS No.) Enter Amount Enter PIN | Cooperative Bank Acc Name: Faida Investment Bank Branch: Moi Avenue Acc number: 01136099801204 Swift Code: KCOOKENAXXX | Stanbic Bank Acc Name: Faida Investment Bank Branch: Kenyatta Avenue Acc number: 0100000733328 Swift Code: SBICKENXXXX |
How do I trade?
You can buy or sell shares through our Faida M-Trader app. The app is available on
For playstore
https://play.google.com/store/apps/details?id=com.fib.faidaalite&hl=no&referrer=utm_source
For app store
https://itunes.apple.com/us/app/faida-m-trader/id1283054173?mt=8
What is the minimum amount of money I need to start investing?
The minimum amount of money one has to invest is dependent on what shares one wants to buy. The minimum amount of shares that one can buy is 100 shares.
What are the charges of trading?
A commission is charged to a client’s account every time they trade. The commission charges are 2.1% for any transactions made below kshs. 100,000 and 1.84% for any transactions above kshs. 100,000.
The commission breakdown is as follows.
| DETAILS | TRANSACTIONS ABOVE KSHS. 100,000 | TRANSACTIONS BELOW KSHS. 100,000 |
| Brokerage commission | 1.5% | 1.76% |
| CDSC transaction levy | 0.08% | 0.08% |
| CMA transaction levy | 0.12% | 0.12% |
| CDSC guarantee fund | 0.01% | 0.01% |
| NSE transaction levy | 0.12% | 0.12% |
| CMA guarantee fund | 0.01% | 0.01% |
Once I have sold my shares, how soon will I receive payment?
The settlement period for clients when they have executed a trade is T+3 days, where T is the transaction day. For instance, if you place a sale order today, payment will be ready three days after the order clears.
How can I get my statement?
You can access your statement through our mobile app, the Faida M-Trader. Or you can send an email to info@fib.co.ke with your full name, ID number, CDS account and phone number.
Investing
What is a share?
A share is a piece of ownership of a company. When you buy a share, you become an owner of a piece of the company’s profit or losses. By buying a share, money which could have been idle or otherwise held in low interest earning savings, moves to a more productive economic activity. The profitability of investing in shares however depends on the good management of the company, avoidance of wastage and a conducive business environment.
What is a bond?
A bond is a loan between a borrower and a lender. The borrower promises to pay the lender some interest quarterly or semi-annually at some date in the future. The borrower also promised to repay the initial money invested by the lender. The lender lends and expects to make a profit. The profit from a bond is gained in the form of an interest
What is a dividend?
A dividend is the distribution of a portion of a company’s earnings, paid to shareholders whose names appear in the register by the time of book closure.
Who is a share registrar?
A registrar is an institution responsible for keeping records of shareholders after a company offers shares to the public. The registrar also oversees the payment of dividends.
Relevant bodies
What is the NSE?
The Nairobi Securities Exchange is a market that allows investors to buy securities (shares, bonds, derivatives). Trading is open from Monday to Friday from 9:30 a.m. to 3:00 p.m.
What is the CDSC?
CDSC stands for the Central Depository and Settlement Corporation Ltd a company incorporated under the Companies Act and approved to establish a central depository under the Central Depository Act, 2000. It acts like a bank, which holds securities (like shares, and corporate bonds,) for investors in electronic form.
What is the CMA?
The Capital Markets Authority is a statutory agency charged with the prime responsibility of regulating the development of orderly, fair and efficient capital markets in Kenya. It licenses and supervises market intermediaries, conducts on-site and off-site market surveillance and enforces compliance, and promotes market integrity and investor confidence.
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