What is Kingdom Securities？
Kingdom Securities Limited (KSL) is a subsidiary of the Co-operative Bank of Kenya Limited, positioned as the third largest bank by asset base in Kenya. Established in 2008 and based in Kenya, Kingdom Securities operates as an unregulated entity, offering a diverse range of financial services and products. Its offerings encompass online share trading, transfer immobilization, portfolio management, brokerage, and insurance services. Notably, Kingdom Securities provides the Online Share Trading platform (OST) as its primary trading platform, offering direct access to investors' CDS (Central Depository System) accounts.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
Pros of Kingdom Securities:
- No Minimum Deposit Requirement: Kingdom Securities does not impose a minimum deposit requirement, which can be beneficial for investors who may not have significant initial capital to invest. This allows for flexibility in starting with smaller amounts.
- Diversified Services: Kingdom Securities offers a comprehensive range of financial services, including online share trading, portfolio management, brokerage, and insurance. This enables clients to access multiple investment options and potentially diversify their portfolios.
- Multi-Channel Support and Flexible Customer Support: Kingdom Securities provides clients with support through multiple channels, such as phone, email, WhatsApp, fax, SMS, and Facebook. This accessibility and flexibility in customer support can enhance convenience and responsiveness for clients.
- Accessible Trading Platform: The Online Share Trading platform (OST) provided by Kingdom Securities allows investors to have direct access to their CDS accounts. This feature can enhance convenience and transparency in managing and monitoring investment positions.
Cons of Kingdom Securities:
- Not Regulated: Kingdom Securities operates without regulation, meaning there is no oversight from government or financial authorities. This lack of regulation can result in increased risks for investors, including potential security and accountability issues.
- Security and Accountability Risks: As an unregulated entity, Kingdom Securities may not adhere to the same level of security standards and accountability measures as regulated brokers. This may expose investors to higher risks, such as security breaches or lack of accountability for any issues that may arise.
Is Kingdom Securities Safe or Scam？
Kingdom Securities Limited, being unregulated, lacks government or financial authority oversight in its operations. This absence of regulation implies that investing with them carries inherent risks. Without regulation, the individuals running the platform may unlawfully keep your funds and face no consequences for their actions. They have the ability to abruptly vanish without any notification. Therefore, clients conduct comprehensive research and carefully assess the potential rewards against the substantial risks before committing to any investment with Kingdom Securities.
Services & Products
Kingdom Securities offers a range of services and products to cater to the needs of investors.
- Online Share Trading: Kingdom Securities provides investors with a web-based trading platform called OST. This platform allows investors to have direct access to their CDS accounts, enabling easier personal management. Investors can place buy or sell orders, access real-time data from the Nairobi Securities Exchange, and view transaction history and portfolio valuation.
- Transfer Immobilization: Kingdom Securities facilitates the process of depositing share certificates of listed companies into a CDS account. This service follows the dematerialization of securities, where physical certificates are no longer considered evidence of ownership. By converting physical shares into digital form, investors can enjoy easier management and streamlined transactions.
- Portfolio Management: Kingdom Securities has a well-developed research unit that offers investment advice on various aspects of securities. They provide value-adding services to clients who require an investment strategy based on their objectives, time horizon, and risk appetite. This helps investors make informed decisions and maximize their investment potential.
- Brokerage: Kingdom Securities acts as a brokerage, facilitating financial securities transactions between buyers and sellers. They offer services in equity trading, fixed trading, and transfer immobilization. They provide clients with expert research, recommendations, and up-to-date stock prices, ensuring that investors can make well-informed investment decisions for both short-term and long-term objectives.
- Insurance: Kingdom Securities provides insurance products that cover various areas. They offer agriculture insurance for farmers and agriculture businesses, general insurance for protection against a wide range of risks, motor insurance for vehicles, medical insurance for healthcare expenses, MSME insurance for small businesses, micro-business cover for self-employed individuals, and life cover for financial protection in the event of death.
How to Open an Account？
To open an account with Kingdom Securities, please follow these steps:
Trading Platforms
The trading platform offered by Kingdom Securities is called the Online Share Trading platform (OST). This web-based application allows investors to have direct access to their CDS (Central Depository System) accounts held with Kingdom Securities Limited. The OST platform is designed to be fully functional and accessible on both computer and mobile-based systems, providing convenience and flexibility for investors to manage their investments.
It enables investors to have direct access to their CDS accounts held with Kingdom Securities. This means that investors can easily monitor and manage their investment portfolios, track their holdings, view account balances, and perform various account-related activities directly through the platform.
Furthermore, the OST platform provides investors with direct real-time access to the Nairobi Securities Exchange (NSE). This allows investors to stay updated with real-time market data, including stock prices, supply and demand volumes, and overall market participation. These real-time insights can be valuable for investors in making informed investment decisions.
Deposits & Withdrawals
For Deppsits:
To make a deposit into your CDS (Central Depository System) account with Kingdom Securities, you have two primary options available.
The first method is through M-pesa deposit, where you proceed by accessing your M-pesa menu and selecting “Lipa na M-pesa.” From there, you would choose the “Pay bill” option and input the pay bill number as 400222. When prompted for the account number, it is essential to include your unique CDS number in the specified format. If you currently do not have your CDS number on hand, I recommend contacting Kingdom Securities' customer support for prompt assistance.
For an alternative deposit method, you can utilize a direct deposit through a bank. This process involves initiating a bank transfer, RTGS (Real-Time Gross Settlement), Pesa-link, Swift, or any other mobile money transfer to Kingdom Securities' designated collection account at Co-operative Bank. During the transfer, be sure to include essential details such as the Account Name (Kingdom Securities Limited), Account Number (01136186729201), Bank Code (11000), Branch Code (11002), and Swift Code (KCOOKENA). Also, remember to include your CDS account or ID number as part of the transaction's narration or indication for accurate crediting.
For Withdrawals:
When it comes to withdrawing funds from your CDS account, the procedure entails submitting a payment or withdrawal request through email. Simply compose an email to info@kingdomsecurities.com, clearly stating your CDS account or national ID number. Within the email, specify the desired amount you wish to withdraw from your CDS account. It can also be helpful to provide a brief description of the deposit or withdrawal from Kingdom Securities to ensure clarity and expedite the processing of your request.
Customer Service
Customers can get in touch with customer service line using the information provided below:
24 hours a day, 7 days a week
Telephone: 0703 027 000, 020 277 6000
SMS: 16111
Fax: 3276 518
Email: customerservice@coopbank.co.ke,
info@kingdomsecurities.co.ke
Whatsapp: 0736 690 101
Moreover, clients could get in touch with this broker through the social media, such as Facebook.
Whats more, Kingdom Securities provides a Frequently Asked Questions (FAQ) section on their website to assist their clients with commonly asked questions and provide relevant information.
Kingdom Securities offers online messaging as part of their trading platform. This allows traders to communicate with customer support or other traders directly through the platform. Online messaging can be a convenient way to get real-time assistance or to engage in discussions with fellow traders.
Conclusion
In conclusion, Kingdom Securities Limited offers a range of services and products, including online share trading and portfolio management. Kingdom Securities provides customer support 24/7 through various channels. The trading platform offered by the company is called the Online Share Trading platform (OST), which is a web-based application that allows investors to access their CDS accounts. However, as an unregulated entity, it poses security and accountability risks. Investors should carefully consider these factors before engaging in business with KSL.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
