What Is a Stockbroker?
A stockbroker is a licensed intermediary who executes share trades on the Nigerian Exchange (NGX) on behalf of investors. You cannot buy or sell NGX-listed shares without a stockbroker — individual investors do not have direct access to the exchange.
Stockbroker. A stockbroker is a licensed professional or firm authorised by the Securities and Exchange Commission (SEC) to buy and sell securities on behalf of investors on a recognised stock exchange.
Why stockbrokers are required
The Nigerian Exchange operates a member-only model. Only SEC-licensed broker-dealers can execute trades on the NGX. Individual investors must instruct a stockbroker, who then places the order on the exchange on their behalf.
How Shares Saver uses stockbrokers
Shares Saver is an investment platform, not a stockbroker itself. When you set up an investment plan and fund your account, Shares Saver instructs one of its regulated stockbroker partners — including Crown Capital — to execute the purchase on the NGX. The shares are then registered in your name through your CSCS account.
What a stockbroker charges
Stockbrokers charge commission on each trade they execute. Shares Saver includes broker fees within its transparent fee structure. You can see the full fee breakdown on our fees and charges page.
SEC regulation and investor protection
All stockbrokers in Nigeria must be licensed by the Securities and Exchange Commission (SEC) and registered as dealing members of the NGX. This provides a regulated framework that governs how brokers hold client assets and execute orders.
Questions
About stockbroker
This article is for general information and educational purposes only. It does not constitute financial advice, investment advice, legal advice, or tax advice. The value of investments can fall as well as rise. Seek independent regulated financial advice before making any investment decision. Shares Saver does not provide financial advice.
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