Stockbroker Kingdom Securities Limited has introduced a mobile trading application that allows investors to buy and sell shares, with the move being part of efforts to enhance efficiency and customer service.
The platform enables investors to monitor the market in real time and trade from any location, giving them more options for managing their equity portfolios.
“Trading just became easier. Download KSL Trader App on Google Playstore,” the stockbroker, which is owned by Co-op Bank, said in a notice to clients.
Investors on the Nairobi Securities Exchange can also place orders by making physical visits to stockbrokers or using their online platforms.
Market participants are, however, investing heavily in virtual trading solutions in a bid to lower costs and make it easier for investors to trade.
The shift intensified in the wake of the Covid-19 scourge, which discouraged the manual placing of orders through interactions with the staff of the market intermediaries.
Trading apps are mainly targeting retail investors, a big part of whom frequent stockbrokers’ premises to issue trading orders besides checking on their portfolios.
Other stockbrokers and investment banks that have introduced mobile trading apps include Dyer and Blair, Genghis, Sterling, NCBA, Faida Investment Bank, AIB-AXYS Africa Ltd and EFG Hermes.
Stockbrokers are at different stages in terms of the capabilities of their online and mobile trading services, with some allowing investors to seamlessly trade and request payments on the platforms.
The market intermediaries have also integrated their systems with virtual payment services such as mobile money to make it easier for customers to fund their accounts.
For stockbrokers, increased trading helps them grow their revenue which is largely derived from fees charged on transactions.
Kingdom Securities recorded a total income of Sh83.4 million in the year ended December 2021, up from Sh65.1 million a year earlier.
