Standard Bank’s online platform still best broker
Standard Bank’s online share trading platform was named SA’s top stockbroker in the annual Intellidex-FM Investor’s Monthly top stockbroker award, held at the JSE last night.
Although Standard Online Share Trading took the top award, FNB Securities won the accolade for top advice broker, while IG SA took the laurels for top online broker.
The awards are the most definitive barometer of the health of SA’s broking sector, and are based on a survey of more than 6,000 stockbroking clients and an assessment by a panel of Intellidex analysts.
The awards are also becoming increasingly important as many individuals are taking a more active role in managing their retirement savings.
For retail investors, in particular, these awards are the only independent yardstick for quality, which is why companies watch them closely.
Over the eight years that financial research house Intellidex has conducted the survey, Standard Bank’s stockbroking offering has firmly established itself as the one to beat. It won the maiden award in 2010 and was again the overall winner in 2014 and 2016, finishing second every other year.
"Standard Bank uses its muscle well, drawing on the vast resources of the wider bank when needed to present an offering unmatched in terms of scope and breadth of products and services," said Stuart Theobald, the convenor of the judges and the chairman of Intellidex.
For FNB Securities, the accolade is vindication of its strategy, which earlier in 2017 led to its retail investments and its wealth management arm merging. FNB’s investment offerings are under one roof, so clients have access to a variety of experts.
IG’s award as top online broker recognises its excellence in its specific area, which even includes contracts for difference on cryptocurrencies, including rare access to bitcoins for retail investors.
The People’s Choice award, which is based purely on feedback from clients of all SA’s stockbrokers, went to 28E Capital. While 28E caters to clients from novices to sophisticated investors, it specialises in active day traders.
28E Capital also won recognition as the best provider of contracts for difference, while EasyEquities won for the best tax-free savings account in the market.