BP BERNSTEIN USED TO BE a solely advice-driven broker operating telephonically, but recently it set up trading on Saxo Bank’s platform, providing a capable online facility. This enables clients to trade directly on local and offshore markets, in both cash and derivative instruments.
The firm’s core market segment is the traditional investor, but it also caters for other archetypes, albeit to a lesser degree. Active day traders are provided with very competitive rates — as low as 0.001% for equity and 0.002% for CFDs. The firm is very strong on providing advice on portfolio construction and it offers fundamental analysis of JSE-listed shares.
A total of 85% of clients were recommended by acquaintances and 66% have a dedicated broker. The firm is keeping its clients satisfied; 47% rate overall satisfaction with service as excellent. Service related to administrative queries is considered excellent by 61%.