Once you confirmed your decision to participate on the ALTX market, apply for a trading account online via www.altxafrica.com/sign-up.
This straight forward process requires the following as mandatory information: Your Personal Details, Your Identification Details, Your Address, and Your Banking Details.
A copy of the filled-out application form will be emailed to your registered email address. Print this form as you will need it in Step 3 below.
STEP 2 – FIND A STOCK BROKER
In Step 1, you will be required to choose a broker as your trader.
ALTX has the following brokers from which to choose.
A. BURBIDGE CAPITAL
B. ROCK FINANCIAL SERVICES
You can always transfer your Trading account to another broker in the future.
STEP 3 – ACTIVATE YOUR CENTRAL SECURITIES DEPOSITORY (CSD) TRADING ACCOUNT
Visit the preferred Broker chosen in Step 1 so as to activate your CSD account you applied for in Step 1.
Carry along the following:
- A printed application form that was sent to your mail box. Check all incoming folders including spam if you cannot find this form.
- 2 Passport size photographs
- A Copy of your Identification indicated in Step 1.
STEP 4 – START TRADING ON ALTX
You can place your order either in person at the Stock Brokers office or you can send email instructions.
You can confirm whether the Stock Broker the licensing status from our website here: www.altxafrica.com/member-firms
STEP 4A – PLACE YOUR BUY ORDER
You will need to wire your investment funds or make a direct deposit onto your Stock Brokers bank account or write a cheque in the clearing names of the Stock Broker (The name is always prefixed with ALTX e.g ALTX-ROCK).
The Stock Broker will advise you of the banking details.
You will need to clearly state:
-The SECURITY: State what security you want to buy.
-The PRICE: The security may be bought by specifying price limits, a specific price or sale at the prevailing market price.
-The QUANTITY: State whether you want a specific number of shares/units or you want all your funds invested as a lump sum.
STEP 4B – PLACE YOUR SELL ORDER.
You will need to have Shares/Units deposited in your account in Central Securities Depository in order to be eligible to place a Sell Order. . To make a sell order, instruct your broker giving the SECURITY, the QUANTITY of the security to sell and the PRICING instruction.
The security may be offered for sale either by giving price limits within which to sell it, a particular price or the market price ruling at the time sale.
Sell proceeds will be credited to your bank details specified in Step 1