info@lcfe.ng
+234-9150009000

how to trade

trading at lcfe

Sell Commodities

1
SELECT A DMF
Identify an LCFE accredited dealing member firm (DMF) of choice and open a client account with them
2
APPLICATION FOR ONBOARDING ON LCFE
Your chosen DMF will collate your company’s documents and apply for onboarding on LCFE. If you own your warehouse your DMF will apply for onboarding of your warehouse
3
TRADING ACCOUNT
Upon approval by LCFE, your DMF will open a CSCS/trading account on your behalf. This account will be linked to your warehouse
4
WAREHOUSE DEPOSIT
You deliver approved commodities to the registered warehouse which will reflect automatically at the exchange
5
MANDATE INSTRUCTION
You deliver approved commodities to the registered warehouse which will reflect automatically at the exchange
6
SETTLEMENT
Once the transaction has been concluded on the exchange your account will be debited in 3 days and the buyer can pick up their commodities from the warehouse

Buy Commodities

1

Identify an LCFE accredited dealing member firm (DMF) of choice and open a client account with them

2

Dmf will open a cscs/trading account on your behalf.

3

You give a mandate/instruction to your DMF to buy commodities on your behalf at your chosen price, quality and quantity. You deposit the total value of the a you want to buy in your brokers trading bank account

4

Your broker buys on your behalf from another client through their broker on the exchange

5

Once the transaction has been concluded on the exchange your money will be moved from your broker’s bank account to the seller’s account

6

The seller’s Commodities now belong to you. You can now pick up your commodity at the storage facility or choose to resell on the exchange for a profit

Trading Sale

Subscribe to our

Weekly bulletin