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2.76/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum deposit:
  • KES 100,000
    or $1,000
Trading platform:
  • Online Share Trading web platform
  • Sterling Plus mobile apps
Leverage
  • 1:2
Trading features
  • Limited choice of markets
  •  Brokerage fees for trading stocks depend on the trade amount
  •  No demo account.
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Our Evaluation of Sterling Capital

2.76/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Traders Union icon

Sterling Capital is a high-risk broker with the TU Overall Score of 2.76 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Sterling Capital clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker.

Sterling Capital is one of the oldest Kenyan investment banks and brokers, providing a wide range of services in financial markets. These services include trading, investing in fixed-income instruments, lending, research and analytics, and corporate consulting.

Brief Look at Sterling Capital

Sterling Capital is a limited liability brokerage company established in 1981 to provide investment and financial consulting services. In addition to buying and selling stocks and bonds listed on the Nairobi Stock Exchange (NSE) on behalf of its clients, the broker offers margin trading, securities lending services, passive income tools, and proprietary platforms for securities trading. Sterling Capital has been regulated by the Capital Markets Authority of Kenya (CMA) for over 30 years. It is also a member of NSE and the Investor Compensation Fund.

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Advantages of trading with Sterling Capital:
  • Regulated activities and membership in the main stock exchange of Kenya;
  • Funds protection for retail clients;
  • Direct access to trading on NSE;
  • Trading fixed-income instruments;
  • Wide choice of stocks listed on stock exchanges of various African countries;
  • Lending services to increase client investment capital;
  • Passive income options.
Disadvantages of Sterling Capital:
  • Derivatives market is not available and the range of securities is limited;
  • High minimum investment requirements;
  • No demo account or training materials on investment.

TU Expert Advice

Anastasiia Chabaniuk

Author, Financial Expert at Traders Union

Sterling Capital offers a variety of brokerage services, focusing on stock trading, bond investments, and margin trading through its platforms, including the Online Share Trading web platform and Sterling Plus mobile apps. Its clients can trade via brokerage or margin accounts denominated in KES or USD, with a minimum deposit requirement of KES 100,000 or $1,000. The company provides direct access to the Nairobi Stock Exchange and offers passive income opportunities for investors in the Kenyan context.

However, there are several drawbacks associated with Sterling Capital, including a high minimum investment requirement, limited market choices, and the absence of a demo account or training materials for novice investors. Despite being regulated by the Capital Markets Authority of Kenya, the limited compensation model may not appeal to conservative traders. Therefore, Sterling Capital may better suit experienced investors accustomed to the Kenyan financial landscape rather than those seeking extensive resources for international or diverse market trading.

Sterling Capital Summary

Your capital is at risk.  The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.

💻 Trading platform: Online Share Trading web platform and Sterling Plus mobile apps
📊 Accounts: Brokerage, Margin, and CDSC (Central Depository and Settlement Corporation)
💰 Account currency: KES and USD
💵 Deposit / Withdrawal: Bank transfers and M-Pesa
🚀 Minimum deposit: KES 100,000 or $1,000
⚖️ Leverage: 1:2
💼 PAMM-accounts: No
📈️ Min Order: 1 share
💱 EUR/USD spread: Exchange
🔧 Instruments: Stocks, bonds, and ETFs
💹 Margin Call / Stop Out: 100%/30%
🏛 Liquidity provider: No
📱 Mobile trading: Yes
➕ Affiliate program: No
📋 Order execution: Exchange
⭐ Trading features: Limited choice of markets;
 Brokerage fees for trading stocks depend on the trade amount;
 No demo account.
🎁 Contests and bonuses: No

To cater to different trader needs, Sterling Capital offers account types in two currencies for trading with borrowed funds and with trader’s own capital. Stock trades can be executed by phone and through electronic platforms that allow traders to monitor their portfolios, market data, and stock trading activities online. For investing in stocks, the broker charges a percentage of the position size. There are no minimum fee rates.

Sterling Capital Key Parameters Evaluation

User Satisfaction i

Score:
6/10

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usharani
34 weeks ago

I opened an account with Sterling Capital a long time ago, when it offered trading stocks by phone. The introduction of a web platform has made executing trades easier and less expensive. Moreover, the platform provides for viewing portfolio data whenever you need it, and not waiting for paper reports and paying for their mailing.
Note that Sterling Capital has strict restrictions on trading instruments. The main instruments are stocks and bonds, while options and futures are not available. All settlements are always fair and withdrawals are processed as stated.

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varam
36 weeks ago

I use Sterling Capital to buy new bonds for KES 300,000 every month. These are mostly government bonds, since I don’t want to risk buying corporate ones. The broker doesn’t charge fees for these assets. The only expense is a 15% tax for withdrawing profits. While the broker allows USD transfers, I use my bank account in KES for all transactions. For any questions, its phone support is prompt and helpful, although limited to business days.

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m28021
38 weeks ago

I trade stocks through Sterling Capital with a fee of 1.8% of the position size. The absence of a minimum fee is a great advantage for me, as it is possible to buy shares at small amounts without overpaying. Sterling Capital offers a lot of market data and regularly posts new reports for the stock market. A couple of months ago, I started using its savings account for generating passive income. I receive monthly account summaries via email, and can monitor profitability online through a browser platform.

Score:
2.11/10

Trading Account Opening

Upon opening a live account with Sterling Capital, traders gain access to their user accounts designed for executing trades, account management, and monitoring portfolio efficiency.

1

To sign into the user account, open a web platform and download the Sterling Plus mobile app. Enter your login credentials received during a trading account registration.

Review of Sterling Capital’s User Account — Log into your user account
Review of Sterling Capital’s User Account — Log into your user account
Review of Sterling Capital’s User Account — Log into your user account
Review of Sterling Capital’s User Account — Log into your user account
2

If you are not the broker’s client yet, register online by clicking the “Sign Up” button and filling in the account opening form.

Review of Sterling Capital’s User Account — Open an account
Review of Sterling Capital’s User Account — Open an account
Review of Sterling Capital’s User Account — Open an account
Review of Sterling Capital’s User Account — Open an account
Score:
8.02/10

Regulation and safety

Information

Sterling Capital is a Kenyan brokerage firm regulated by CMA, with license number 021. CMA promotes investment and financial development in Kenya, contributing to the nation's economic growth by fostering capital market activity.

CMA offers the proprietary Investor Compensation Fund, however, unlike protection schemes in other countries, it does not provide comprehensive insurance coverage for investments held with licensed banks, companies, or brokers. The maximum compensation amount per client is limited to KES 50,000.

Since 1994, Sterling Capital has been a member of the Nairobi Securities Exchange, formerly known as the Nairobi Stock Exchange. NSE is a part of the East African Securities Exchanges Association and the African Securities Exchanges Association, as well as the World Federation of Exchanges.

Advantages

  • Direct access to the market
  • Publicly available financial reports
  • Many years of experience under strict supervision

Disadvantages

  • Limited compensation for traders if the broker violates its obligations
  • Limited funding of up to 50% of the instrument value
  • The broker may reject account opening
Score:
6.12/10

Commissions and fees

Information
Sterling Capital charges fees depending on the trade amount. For trades below KES 100,000, the fee is 2.1%, and it is 1.8% for trades of KES 100,000 and above. Fees are also applicable to margin trading: 0.12% per day applies to the loan principal and 0.1% applies daily to the outstanding loan balance. Moreover, when withdrawing profits, traders pay fees of payment providers.
Account type Spread (minimum value) Withdrawal commission
Brokerage account 1.8% of the portfolio value Payment providers fees
Margin account 1.8% of the portfolio value Payment providers fees

Sterling Capital does not charge fees for investing in bonds. However, traders pay a 10% or 15% income tax.
The average fee for trading stocks is 1.95%. For example, a $1,000 trade incurs a $19.5 fee. Below is the comparative table with average fees of Sterling Capital and two stockbrokers registered outside Africa.

Broker Average commission Level
$19.5
High
$2
Low
Score:
2.07/10

Account types

Prior to opening a trading account with Sterling Capital, open the CDSC account that provides for registration and processing of securities in Kenyan financial markets. The CDSC account is crucial for digital registration of securities, settlements, and transfer of rights for stocks and other investment instruments. Retail and professional investors are required to have CDSC accounts to maintain records of their investments and ensure smooth trade execution. Once the CDSC account is registered, traders gain access to other account types offered by Sterling Capital.

Account types:

Account Type
Description
Brokerage account
This account type is designed for trading with investor own capital. Stocks, bonds, and other securities are available.
Margin account
It provides for using borrowed funds for trading. CMA allows investors to trade with leverage of 1:2, meaning that they can borrow up to 50% of a security value from the broker.

The available accounts can be opened in KES or USD.

Sterling Capital is a licensed broker offering stock trading and investing in bonds and other fixed-income instruments.

Score:
2.53/10

Deposit and withdrawal

  • Traders can withdraw their profits by submitting requests in their user accounts or sending emails to the broker.

  • Funds are transferred to the initial funding source.

  • While the broker itself does not charge withdrawal fees, traders pay fees imposed by their banks or the M-Pesa system.

Score:
2.08/10

Investment Options

Sterling Capital specializes in stock trading and passive investment. The broker offers a variety of passive income strategies, focusing on the Kenyan stock market and partnering with reliable entities.

Passive income options from Sterling Capital

The broker caters to securities investors, rather than active traders interested in short-term speculative trading. Currently, Sterling Capital offers the following passive income options:

  • Chapaa’ Halisi (Legit Funds). This is an investment tool that allows traders to get 14% per annum by simply holding their funds in their accounts. It is similar to bank savings accounts with the possibility to withdraw invested funds before the maturity date, unlike deposits with a mandatory lock-up period. The minimum investment is KES 100,000 and the investment period ranges from 3 months to 2 years.

  • Nawiri. Similar to Chapaa’ Halisi, this tool allows traders to lock up USD along with KES. Annual rates are 10.5% for KES and 4% for USD. The minimum investment is $1,000.

  • Fixed-income instruments. These include treasury bills, as well as government and corporate bonds. The issuer of government bills and bonds is the Central Bank of Kenya (CBK) that guarantees income payments at the end of investment period. Treasury bills are issued weekly for a period of 91, 182, or 364 days; government bonds are issued monthly for a period from 2 to 30 years; and corporate bonds are issued for a period of 3-7 years.

All the above options allow investors to receive guaranteed passive income with CBK acting as a payment guarantor.


Important!

If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

Partnership programs from Sterling Capital:

The broker does not offer any partnership programs.

Score:
4.53/10

Customer support

Information

Sterling Capital’s technical support is available from 08:00 to 17:00 (GMT+3) Monday through Friday.

Advantages

  • Non-registered users can also contact support with any issues
  • Multi-channel call center

Disadvantages

  • No live chat
  • Support team is not available on weekends

Available communication channels are:

  • Phone;

  • Email;

  • Fax;

  • Feedback form.

If you prefer personal communication with a Sterling Capital representative, visit its office.

Contacts

Registration address Delta Corner Annex, 5th Floor, Ring Road, Westlands Nairobi, Kenya
Regulation CMA Licence number:
021
Official site https://sterlingib.com/
Contacts
Score:
4.15/10

Education

Information

There are no dedicated sections with articles, videos, tips, or recommendations for novice investors on the Sterling Capital website.

Information available with Sterling Capital
Information not available on the Sterling Capital website
Briefly on features of account types in USD and KES
What short and long positions are
Basic information on margin trading
Reducing risks when trading in the stock market
Peculiarities of loans secured by shares
Purpose of a trading strategy
Security with Sterling Capital
How to diversify a portfolio
How to use fundamental data to forecast asset prices

The broker does not hold educational seminars or webinars. Also, it does not offer paid courses for novice or experienced investors.

Detailed review of Sterling Capital

Sterling Capital is a brokerage company with a long presence in financial markets of Kenya, Nigeria, Uganda, Tanzania, and other African countries. Its services are popular among private and corporate investors due to its high reliability and a client-oriented approach. Sterling Capital has a team of analysts who conduct comprehensive market research for the broker’s clients.

Sterling Capital by the numbers:

  • Over 43 years in the market with 30 of them under the CMA regulation;

  • Total assets exceed KES 705 million as of June 2023;

  • Loans are issued within 24 hours as of application.

Sterling Capital is a broker offering a wide range of African stocks

Sterling Capital allows its clients to trade stocks on NSE, including through the Sterling Plus mobile apps introduced in June 2020. These apps are HTTPS (HyperText Transfer Protocol Secure) platforms that protect confidential information, such as personal data, financial information, and user passwords, when transmitted over the internet. SSL protocols ensure transaction security on Sterling Plus.

The broker also partners with Imara Capital Limited, a large financial services company in Kenya and Africa. Imara offers investment, asset management, and financial consulting services. This partnership allows Sterling Capital clients to trade on stock exchanges of Nigeria, South Africa, Angola, Namibia, Zimbabwe, Zambia, Botswana, and Eastern Africa.

Useful services offered by Sterling Capital:

  • Market Reviews. Every week, Sterling Capital’s analysts conduct in-depth market research and publish macroeconomic indicators, capitalization, and prices on the most tradable stocks, bonds, and indices.

  • Stock Reports. The broker’s clients receive data on stocks from different sectors: bank, telecommunication, production, etc. Quotes for stocks listed on NSE and information on dividend dates are published on weekdays.

  • Investment Instrument Research. The broker’s analytical department focuses on analysis of fixed-income assets and real estate investment trusts (REIT).

  • Lending. This service is available to Sterling Capital clients with existing investment portfolios. Loans are provided for a period of three months and do not require additional documents.

Advantages:

1

Accounts in KES and USD provide for saving on conversion fees;

2

Proprietary mobile apps with real-time access to various data, including portfolio assessment, and transaction and trading reports;

3

Loans secured by existing client assets with low-interest rates;

4

Availability of passive income options;

5

Free analytical research.

Sterling Capital does not manage assets of private investors. However, it provides abundant market information and data for succeeding in trading financial instruments.

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