I've used EFG Hermes with phone orders. About the best I've encountered (but I've by no means tried very many brokers) in terms of actually answering the phone - they usually pick up quickly. They'll also email you their company reports if you ask them - good for background reading and analysis. I've tried to set up my EFG Hermes online account but had some difficulty with it. Didn't get as far as trading yet.
Funny, I thought they'd announced this a while ago. I've had an online account with them for a couple of months. Haven't used it much - had some problems with access. I'll have to take another look. Looks like an EFG press release reprinted in the Gulf News ...
Dubai: The brokerage division of leading regional investment bank EFG-Hermes has rolled out its online trading service.
The robust and secure system offers online trading on the Dubai Financial Market (DFM) and the Abu Dhabi Securities Market (ADSM), and is shortly to be launched to cover other regional markets, including Egypt.
This latest edition to the EFG-Hermes brokerage product suite is recognition of the growing role of technology in brokerage and other financial services, and accompanies the launch of a full-fledged contact centre that draws on Avaya technology and an in-house built front-through-backend multi-currency, multi-market system.
Seif Fikry, head of brokerage at EFG-Hermes UAE, said, "Retail investors require a large amount of flexibility and online services enable customers to broker deals at any time from any location a freedom that is invaluable to successful investment strategies."
The system includes live quotes and charts delivered through the EFG-Hermes streamer, displaying the best five bids and offers, total buy and sell quantities and total volume executed in shares and value.
In addition to rates and quotes, it offers customisable features online to allow customers to tailor the streamer to meet specific trading interests.
Good news for Al Ain investors. Looks like a press release from EFG reprinted in the KT ...
Khaleej Times 02 October 2006:
EFG-Hermes expands its brokerage operations
(BY A STAFF REPORTER)
DUBAI — Supporting the recent move by the Abu Dhabi Securities Market (ADSM) to set up an exchange floor in Al Ain, EFG-Hermes has announced the expansion of its brokerage operations to the city.
Al Ain will eventually have representation from 30-40 brokerage houses, and EFG-Hermes's presence there will increase the firm's breadth of trading capabilities across the UAE and offer clients living and working in the vicinity a more convenient way of trading.
Seif Fikry, Head of Brokerage at EFG-Hermes UAE, said: "The Al Ain branch is another addition to our customer-centric brokerage services. We are aiming to give investors across the UAE more control over their investments."
...just across the road from the new fish markets too....... to market ... to market....jigitty jog.... _________________ ... the main thing to remember is that the main thing is the main thing......
Press release from EFG-Hermes yesterday announced that their customers would be able to access the Cairo/Alexandria stock market online from www.hermesonline.com (which appears to be an updated site and domain name from when I last looked). Actual launch date is not apparent apart from opening sentence.
Press Release 29 November 2006:
EFG-Hermes launches Hermes Online Trading
EFG-Hermes, the Arab world's premier investment bank, will launch its Hermes Online Trading service in Egypt in December 2006.
Providing a reliable, fast and user-friendly interface, the service will allow customers to have access to the Cairo/Alexandria stock market through the Internet connection provided by EFG-Hermes.
"The new service provides our customers with real-time market information, enabling them to access trade execution details and to track their portfolios online without having to go through a broker," said Mamdouh El Baz, Managing Director -Online for EFG-Hermes in the region. "They will also be able to eliminate bad deliveries and counterfeit signatures." Additional benefits include an attractive commission, as well as same day trading through contact centre 16900.
Trading volumes have grown 10 fold since the launch of Hermes Online Trading in the UAE in May 2006, demonstrating the growing role of technology in brokerage and other financial services. Now EFG-Hermes customers in Egypt will also benefit from the fastest, fully functional trading service in the Middle East, which is supported by a full-fledged call centre and an in-house built front-through-backend multi-currency, multi-market system.
El Baz explains that the Hermes Online service allows for access to the EFG-Hermes streamer, and will allow traders in Egypt to make use of available support in Dubai as well as the possibility to cross trade with the Dubai financial market, along with better access to EFG-Hermes products (IPO's, private equities...)
'We have just completed a successful soft-launch of the Hermes Online Trading service in Egypt, and now we look forward to fully rolling out the service to our customers,' said El Baz. 'With a growing interest in Egypt in trading stocks, and now the availability of a faster more accessible service for current and potential customers to access the market from any Online location through www.hermesonline.com , we speculate much interest in the Hermes Online Trading service.'
There must be way more brokers than listed stocks on the Dubai International Financial Exchange (DIFX) by now...
Khaleej Times 07 December 2006:
Egypt PM inaugurates EFG-Hermes UAE head office at DIFC
DUBAI — Prime Minister of Egypt, Dr Ahmed Nazif, inaugurated the UAE head office of regional investment bank EFG-Hermes at the DIFC. Dr Ahmed Nazif met with EFG-Hermes Chairman and CEO Yasser El Mallawany and lauded the company for the success of its regional expansion model.
"The Egyptian government is not only keenly supporting investment in Egypt, but also the positive expansion stories of companies like EFG-Hermes, who are taking a home-grown brand to regional markets and elsewhere overseas," said Dr Nazif. "As one of a number of Egyptian companies offering its clients a regional offering, we will continue to contribute to support EFG-Hermes and all Egyptian companies, that together are making a contribution to economic development in the Arab world."
Since opening in the UAE in 2005, EFG-Hermes has launched its full range of services, including brokerage,which is ranked 8th among 90 plus brokers in the UAE, investment banking and asset management. Its expansion has been supported by the launch in recent months of progressive brokerage services such as a client contact centre and online trading facility.
EFG-Hermes tops brokerage rankings at close of 2006
EFG-Hermes has been placed first in the brokerage rankings conducted by Dubai Financial Market (DFM) for December 2006, and second in the Q406 ranking.
This achievement comes just over two years after EFG-Hermes launched its brokerage operations in the fiercely competitive UAE market.
The rankings, which are measured by value traded, encompass 97 brokerage firms on the DFM. EFG-Hermes' top placement cements its drive to set standards in the industry with a quality research product and fundamentally well-versed brokers. The leading regional investment bank is also focusing on product development in order to offer greater breadth to clients, as well as contribute to the diversification of the market place.
'The brokerage industry in the UAE and indeed the region is an increasingly competitive environment in which service and operational capabilities are key,' commented Seif Fikry, head of UAE brokerage, EFG-Hermes.
'Our rankings is an endorsement of the services and strategy we have adopted in the UAE over the last two years and it is something we are keen to build on in the coming year.'
The UAE is witnessing increased institutional participation in the equity markets - an area which demands and recognizes quality brokerage products. 'In 2007 brokers need to be addressing the fundamental performance of stocks, as well as technical dimensions,' concluded Fikry. 'A more rigorous approach in this respect will help the investor base in the market mature and adopt a more strategic approach to portfolio management.'
EFG-Hermes provides retail investors with access to the DIFX
Regional investment bank EFG-Hermes has extended its offering to retail investors to include shares on the Dubai International Financial Exchange (DIFX), by becoming a custodian on the exchange.
The company can now offer retail investors a 'one stop shop' experience, with direct trading on the DIFX through its local brokerage entity EFG-Hermes Brokerage UAE, which in turn places trades through its DIFC brokerage company, EFG-Hermes UAE Limited.
'By providing custody we can now offer retail investors a straightforward means of trading DIFX securities, which currently has some interesting propositions including Citigold and Al Baraka,' explained Seif Fikry, Head of UAE Brokerage at EFG-Hermes. 'With the recent momentum we have seen, we are confident of the exchange's ability to attract more heavyweight listings and look forward to that growth.'
The step comes as the DIFX gains momentum with eight companies now listed, the most recent of which - Citigold - is seeing impressive volumes. From its inception EFG-Hermes has been a key partner to the exchange, and has traded on behalf of institutional and retail clients.
Per E. Larson, Chief Executive of the DIFX, added 'We are delighted that investors are trading on the DIFX through EFG-Hermes, one of the region's leading brokers. This is a significant step in building substantial trading volumes on the exchange for retail and wholesale investors.'
Hamed Ali, Executive Officer of the DIFX, said: 'The links we are building with brokers, investors and issuers are creating a virtuous circle that is leading to growing activity on the exchange. We are looking forward to more listings and more interest from investors.'
EFG-Hermes has a full service brokerage offering on the Cairo and Alexandria Exchange (CASE), Dubai Financial Market (DFM), Abu Dhabi Securities Market (ADSM), DIFX, and Tadawul (Saudi Securities Market), serving institutional and retail clients across the region.
'Retail investors can now enjoy the experience of trading through a broker with good institutional infrastructure - a fundamentally driven sales force, flawless execution, and a research product that is regarded as the best in regional markets -, but through the channels we have set up with retail in mind - call centre, online trading, and customer branches,' concluded Mr Fikry.
Posted on Wed 18 Jul 2007 14:01 by Asset.Allocator
EFG seems to be the dominate player in Dubai. Is EFG normally option number one when it comes to efficiency of their online trading? If not, who is?
Also, with EFG you can also open an online account for access to Egypt markets. Do they offer extensive access at competitive commission rates to the other GCC markets, i.e. Bahrain, Oman, Saudi Arabia. (I saw that they are a broker with the Saudi Exchange).
I have an account with EFGHermes but I haven't succeeded with online trading - tried a couple of times and gave up but I can't remember why.
They are one of the bigger names, not sure they're the biggest in Dubai though - some of the banks have brokers which are fairly significant.
Broker fees are regulated by ESCA as far as I know and so shouldn't vary amongst brokers in the UAE. See the UAE brokers list for more. _________________ UAE IPO list | posting guidelines
Posted on Wed 18 Jul 2007 20:12 by Asset.Allocator
Thanks for the input, sharewadi.
You mentioned you had an account with EFG Hermes but gave up on their online trading. Might I ask why you choose to use EFG as your broker, given so many of the other options available?
Also, if you do online trades at all, who do you use? Is there particular brokerages that are best known for their online trading capabilities?
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