Investing at the Ghana Stock Exchange requires stockbrokers or licensed dealing officers who are companies who buy and sell securities on behalf of the investor for a fee or commission. Investors cannot personally come to the stock exchange to buy shares but through the stockbrokers. These stockbrokers also offer clients investment advisory and update them on research findings about the securities findings to them. Below are the processes you go through to invest on the Ghana Stock Exchange
Firstly, you see the stockbroker to kick-start the process. An account is opened through a form otherwise known as the (KYC form i.e. Know your Customer). As the name implies this form allows you to enter your details and personal information including your identity card.
The Ghana Stock Exchange Securities Depository which was formed in 2008 is an electronic trading platform which is a paperless share certification system and eliminates the difficulty on behalf of the company to release thousands of share certificates to investors. An account number would then be assigned to you as it would keep record of all your holdings.
You then have to provide a certified copy of a passport, driving license or ID, passport-sized photograph and a copy of your recent bank statement to prove that you are the true owner of the account.
You can now send your money through to the account. This is after you have opened the trading account and have the bank details through which you can send those funds to. They would be given to you by the company.
Submission of a trade order follows after that, this is where you send trade instructions to your broker to buy shares on your behalf. The contract note is also sent to the you (buyer) showing the date of transaction, number of shares bought, price per share and the commission or fees chargeable as well as the total amount bought.
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