EFG Hermes Kenya launches online trading platform

EFG Hermes Kenya launches online trading platform

EFG Hermes, a key financial services corporation in frontier emerging markets, said leading brokerage firm in Kenya, has launched an online equity-trading platform, EFG Hermes One, which will see the firm offer retail investors seamless and convenient stock trading on the Nairobi Securities Exchange (NSE).

EFG Hermes Kenya said through this new platform it seeks to capitalise on Kenya’s high mobile phone penetration rate by leveraging digital channels to deliver efficient, convenient, and comprehensive services able to meet investors’ needs.

The EFG Hermes One application, offers a quick and efficient onboarding process, allowing users to download the application and sign up to create an account by entering their personal information.

Similarly, the application boasts a user-friendly and easy-to-navigate interface that allows users to trade through their desktops, tablets, and mobile phones.

The online trading platform was launched during an event co-hosted by EFG Hermes Kenya and the NSE in the presence of Muathi Kilonzo, Head of Equities at EFG Hermes Kenya and Geoffrey Odundo, the NSE Chief Executive Officer.

"With capital market trends demonstrating ever-increasing interest from retail investors across the world, we aim to increase access and awareness to capital markets to foster better equity trading across sub-Saharan Africa," said Ali Khalpey, EFG Hermes Frontier CEO.

"Our expansion into the retail space is part of our commitment to growing our services in the African continent," he noted.

In addition to executing trades, EFG Hermes One users can access real-time stock quotes; place, track, review, edit and cancel open orders.

Users can also build, monitor, and customize equity watch-lists for individual stocks, stock portfolios and their investment portfolios in real-time.

The application also features several portfolio management tools that enhance the overall user experience and facilitate online trading. Users can also access comprehensive portfolio reports, featuring key information including executed trades, dividend payments as well as a provision to review order history and invoices on their transactions.

"We hope to replicate the success we have witnessed with the EFG Hermes One application across other markets in which the group operates in order to offer our clients in Kenya a comprehensive range of services and further solidify our leadership in the market," stated Khalpey.NSE Chief Executive Geoffrey Odundo said: "The launch of the application comes on the heels of the NSE’s introduction of day trading for retail investors, allowing them to buy and sell stocks as well as settle trades in a single day.""The move is an integral part of […]

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