10 Best Performing Stockbrokers in Nigeria as of July 31st, 2024

On July 31, the Nigerian Exchange Group (NGX) unveiled a report that identified the best-performing stockbrokers in the country. 

The report singled out ten companies, emphasizing their performance based on both the volume and the value of transactions processed through their systems.

These top brokers represent a substantial portion of the market, handling 42.7% of all shares traded on the NGX. Even more impressively, they accounted for 55.2% of the total value of transactions completed by all Nigerian stockbrokers.

The analysis highlighted that these elite ten facilitated the exchange of roughly 66.9 billion shares year-to-date. In terms of financial volume, they managed transactions worth a collective N1.72 trillion.

In assessing broker performance, transaction value is often seen as a more telling metric than sheer volume. It considers the actual prices at which stocks are traded, offering a more detailed insight into the broker’s market influence, clientele, and overall business efficacy.

CardinalStone Securities Limited

Leading the pack is CardinalStone Securities Limited, setting the pace with transactions totaling N319.18 billion. 

This impressive figure not only tops the chart but also claims a 10.27% share of the entire market’s value. With 13.9 billion shares traded, they’re not just about value but volume too, handling 8.92% of the market’s shares.

Stanbic IBTC Stockbrokers Limited

Stanbic IBTC Stockbrokers Limited, with their financial clout ringing in at N305.10 billion worth of trades. 

They’ve carved out a 9.82% slice of the market’s total transaction value, firmly establishing themselves as a heavyweight in the Nigerian stock trading scene.

United Capital Securities Limited

United Capital Securities Limited boasts a hefty N276.85 billion in trades. Their market share? A solid 8.91%. It’s clear they’re a key player, with a knack for big deals and steady hands.

APT Securities and Funds Limited

APT Securities isn’t far behind, securing the fourth position with transactions valued at N179.11 billion. This accounts for 5.76% of the total market transactions, signaling their strong presence in the brokerage community.

EFG Hermes Nigeria Limited

EFG Hermes Nigeria Limited stands out with N139.33 billion in transactions. They’re responsible for 4.48% of the total market value, highlighting their strategic operations and client trust.

Cordros Securities Limited

Cordros Securities finds itself in the sixth spot, with N113.36 billion in transactions. Making up 3.65% of the market’s total, they showcase their capability to handle significant volumes and values with ease.

Meristem Stockbrokers Limited

Meristem Stockbrokers, at seventh place, has seen N104.90 billion pass through their hands. They account for 3.38% of the market’s dealings, underscoring their effective trading strategies and client satisfaction.

CSL Stockbrokers Limited

CSL Stockbrokers Limited holds the eighth position, having facilitated N102.96 billion worth of trades. This contribution of 3.31% to the total market transactions demonstrates their robust position in the market.

FBN Quest Securities Limited

FBN Quest Securities Limited isn’t far behind, landing in ninth with N95.00 billion in trades. Representing 3.06% of the total, they prove their mettle in the bustling Nigerian stock market.

Chapel Hill Denham Securities Ltd.

Rounding out the top ten is Chapel Hill Denham Securities Ltd., with N92.51 billion in transactions. Contributing 2.98% to the total market value, they mark themselves as a key player to watch in the competitive landscape of Nigerian finance.