A wealth management application that lets you trade in the stock market through your mobile device.
Abacus Wealth Management is a mobile friendly application that has made stocks and securities trading very simple and effective in Kenya. The application is powered by Abacus-an innovation group that builds web and mobile software to help investors across the globe access African financial markets.
It presents an opportunity to invest in Stocks and all other securities in Kenya, ranging from Government Bonds and Bills, Unit Trusts to Pension Funds, Foreign Currency and Cryptocurrencies (which are currently underway). It is a licensed data vendor that has been listed as an official securities broker with the National Securities Exchange.
The application requires you to complete a 5 minutes registratation process to create an account, with basic requirements including you Name, Identification Card (ID) or Passport, Date Of Birth (DOB) and KRA Pin. Note that a bank account is not a major requirement, only your KRA Pin. Once opened successfully, you will be greeted by android application is really great with an intuitive UI/UX that is quite user-friendly and appealing to the eye .
Buying and selling has never been easier. Shares are bought in denominations of 100, 500 and 1000 depending on the price of the share. There are no delay times when conducting a trade on the application making it a real-time transaction instrument. An e-mail is sent to you for acknowledgement of receipt.
It is equipped with a personal portfolio that allows you to monitor your investments in percentages. It also provides current market performances and relevant market news plus notifications on executed trades. There is also a forum where investors can interact and share ideas and trade strategies as well as discuss market trends.
In the case of depositing, cash-in is reflected instantly on the application indicating the immediate current balance. With withdrawing, waiting time is clearly stipulated to you once the request has been received.
Deposits are made from as little as Sh 200 to any maximum amount you prefer. They can be made through M-Pesa, Bank Transfers, PesaPal or Wave. Withdrawals can also be made via M-Pesa and Bank Transfers.
You can open an account via its official website, that is, www.abacus.co.ke or through the application on Google Playstore dubbed Abacus Wealth Management. For a prospective beginner, it is worth noting that a virtual account is presented to you at the beginning to guide you through the process of buying and selling and make you understands how different securities work at the NSE. Download the app and start your journey in investing.
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