DC
Daniel C
1 reviews | Active since May 2024
20 May 2024, 14:38
Good for cheap fees, but they have a lot to fix
What’s good: *Cheap fee's *Easy setup *Referral bonus
What’s bad: *Occasionally bad customer service (promised I’d be called by an account manager which didn’t happen) *If on the website can’t close a sell trade, have to use the app (normally if a buy trade you make a corresponding sell) *Even in the app there is no option to simply sell / buy (I normally then adjust my TP and SL, to affect this) *Was pretty sure that if I hold a CFD overnight as a put that I get the interest but I was charged instead for the overnight holding * With margining they will automatically close you if loss is too great, but I’ve been automatically stopped out in profit *Withdrawal time sucks (still waiting)
Helpful (0)
Replies (2)0
Replies (2)
BROKSTOCK SA (PTY) LTD's replyOfficial
20 May 2024, 17:07Hi Daniel,
Thank you for your detailed review. Let us address all your concerns. First of all, we apologise deeply that our customer success manager didn't call you. Your contact details have been passed to our senior manager. Please await a call from him and thank you for bringing this to our attention. We will take measures in regard to the above stated customer success manager.
Thank you for your detailed review. Let us address all your concerns. First of all, we apologise deeply that our customer success manager didn't call you. Your contact details have been passed to our senior manager. Please await a call from him and thank you for bringing this to our attention. We will take measures in regard to the above stated customer success manager.
Secondly, if you mean closing an order on the Personal Account, then you need to click on Portfolio, select the open position you want to close, wait for the page to open and then click on Sell if you want to close your buy position. And vice versa. Click on Buy if you want to close an open sell position. Unless there was a bug on our side and you couldn't close the order, then it should work fine. Please note that you can only open and close positions when the corresponding market is open: US stocks are available Mon - Fri 15:32 - 22:00 SAST and SA shares are available Mon - Fri 09:10 - 16:45 SAST
With regards to your third concern: swaps are charged according to our contract specifications. Please take a look here: https://brokstock.co.za/trading/spec/. In case of holding a short (sell) position opened overnight on JSE shares, the swap rate is positive and 2.7% per annum. In other cases, swaps are negative and are charged from the account. Please note that the swaps are only applicable in Margin trading mode. In Investing mode, swaps are not charged/credited.
Stop out is applicable at the point where the portfolio total is 20% or less than the initial cost of the shares when they were bought or sold. This can also be found in contract specifications and the Ts & Cs
And lastly, we apologise for the withdrawal taking so long. We are aware of the issue and are already working on improving it. Currently, withdrawal processing time has been extended to 6 business days.
Thank you for providing us with such a detailed review of our company, we value your opinion. There is still room for improvement on our side and we are working hard to meet all your expectations. Meanwhile, if you need help, please reach out to our customer support.
BROKSTOCK SA (PTY) LTD's reply20 May 2024, 17:07
Official
Hi Daniel,
Thank you for your detailed review. Let us address all your concerns. First of all, we apologise deeply that our customer success manager didn't call you. Your contact details have been passed to our senior manager. Please await a call from him and thank you for bringing this to our attention. We will take measures in regard to the above stated customer success manager.
Thank you for your detailed review. Let us address all your concerns. First of all, we apologise deeply that our customer success manager didn't call you. Your contact details have been passed to our senior manager. Please await a call from him and thank you for bringing this to our attention. We will take measures in regard to the above stated customer success manager.
Secondly, if you mean closing an order on the Personal Account, then you need to click on Portfolio, select the open position you want to close, wait for the page to open and then click on Sell if you want to close your buy position. And vice versa. Click on Buy if you want to close an open sell position. Unless there was a bug on our side and you couldn't close the order, then it should work fine. Please note that you can only open and close positions when the corresponding market is open: US stocks are available Mon - Fri 15:32 - 22:00 SAST and SA shares are available Mon - Fri 09:10 - 16:45 SAST
With regards to your third concern: swaps are charged according to our contract specifications. Please take a look here: https://brokstock.co.za/trading/spec/. In case of holding a short (sell) position opened overnight on JSE shares, the swap rate is positive and 2.7% per annum. In other cases, swaps are negative and are charged from the account. Please note that the swaps are only applicable in Margin trading mode. In Investing mode, swaps are not charged/credited.
Stop out is applicable at the point where the portfolio total is 20% or less than the initial cost of the shares when they were bought or sold. This can also be found in contract specifications and the Ts & Cs
And lastly, we apologise for the withdrawal taking so long. We are aware of the issue and are already working on improving it. Currently, withdrawal processing time has been extended to 6 business days.
Thank you for providing us with such a detailed review of our company, we value your opinion. There is still room for improvement on our side and we are working hard to meet all your expectations. Meanwhile, if you need help, please reach out to our customer support.
DC
Daniel C's updateReviewer Update
02 Mar 2025, 18:29Brokstock has since greatly improved. There were a few bugs but they sorted this out. Customer support via the app has been good. Withdrawals are now relatively fast.
DC
Daniel C's update02 Mar 2025, 18:29
Reviewer Update
Brokstock has since greatly improved. There were a few bugs but they sorted this out. Customer support via the app has been good. Withdrawals are now relatively fast.