IC Securities Ghana Limited has launched a trading platform to allow investors to purchase and sell stocks on the Ghana Stock Exchange (GSE) as well as some government bonds via web or USSD. The web application can be accessed through wealth.ic.africa. In order the use the USSD platform, you will have to contact IC Securities (clientservice@ic.africa) to help you set it up.

Immediately after the virtual launch was concluded I decided to test the web platform in order to share some quick thoughts. The sign-up process is relatively simple, requiring you to fill a CSD application, to provide regular biodata as well us uploading a profile picture and proof of identification. After completion you will receive communication that they will get in touch with you within 48 hours to activate your account.

Luckily for me, I already have a brokerage account with IC and so I can give you a brief review of the platform.

What I like about the platform is its simplicity – adding funds can be done through a Visa card or mobile money (MTN/Vodafone/AirtelTigo). Buying or selling can simply be done through the click of a button. Security is prioritized, as one can expect from such an application. A two-factor authentication is set by default, meaning you need both a password and a text message on your phone to be able to sign into your account.

However, like every other method of trading on the GSE, the length of time which it takes for an order to be filled knocks out the enthusiasm from investors. This is not the fault of brokers but GSE regulations which prevents the brokers from being market makers i.e. they cannot hold shares to sell to clients. With this regulation in place, the same problem of clients waiting for weeks for their buy or sell order to be filled will continue.

Nevertheless, investors should be excited about any development in the domestic market which attempts to make it easier for them to invest. As more and more technology is developed, the large number of Ghanaians who are not yet investing will gradually be pulled into the market. This will significantly improve the liquidity in the market and make it easier for companies to raise money on the bourse.

Have you tried the platform? Let me know your experience with it in the comments.