Sagicor Investments reduces online trading fees amidst COVID-19 outbreakFriday, April 10, 2020
Sagicor Investments has reduced its online trading fee to 0.5 per cent for clients having an online trading account with the Jamaica Stock Exchange (JSE) trading platform ( Jtraderpro ) .
The online platform allows approved investors the ability to buy and sell securities (stocks) in real time. Prior to this announcement, clients would pay 0.75 per cent in online trading fees. The fee reduction is aimed at encouraging market activity amidst the spread of the novel coronavirus disease (COVID-19), which has caused most people worldwide to be staying indoors.
“At Sagicor Investments, our aim is always to help Jamaicans create, grow or preserve wealth even during this period. We wish to encourage our clients, some of whom may be at home now, to utilise the Jtraderpro platform to learn more about trading and how they can earn,” said Kirk Brown, manager — Stockbrokerage at Sagicor Investments, in a release last Wednesday.
He explained that by using the platform, investors would not only benefit from its convenience but also the decrease in commission when compared to broker-assisted trades, which according to him can cost the client up to two per cent.
Touting the platform as a secure means through which trades can be completed allowing for some flexibility to end-users while trading, he noted that the Jtradepro platform is one that gives investors control over their portfolios.
“We anticipate that there will be an increase in the frequency of trades done by investors at this time and want to encourage online trading as we move to expand Jamaicans' knowledge about investments. The use of this platform will also decrease the likelihood of persons having to come in branches to conduct business and help us safeguard our clients and team members,” Brown said.
Sagicor Investments, meanwhile, has urged people interested in starting an online trading account to do so by visiting the JSE website at https://jtraderpro.jamstockex.com/login. As a precautionary measure against the ongoing virus, clients are also advised to exercise vigilance and safety and to utilise the company's electronic mediums to conduct business.
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