Stock Market
The stock market or stock exchange market is a highly organized capital market that provides facilities for the buying and selling of securities such as shares, stocks, debentures, and government bonds. The Stock Exchange principally concerned with the creation of market for secondhand securities.
The US stock market is one of the best performing financial markets, and many investors from different countries find it appealing regardless of investment style, experience, or purpose.
Before now, it was quite cumbersome to invest in the US securities from Nigeria, or as a non-US citizen or resident. Those who invested in the us stock then, used to hire US-based stock brokers, which is not easy to go bye. With the proliferation of financial technologies (Fintech), foreigners including Nigerians can buy US stock online from their home countries.
Some investment apps have made buying US stocks very easy. The interest aspect is that Nigerians can invest as low as $10 worth shares in US securities market using these apps.
Most of these apps provides Nigerian investors access to best-performing portfolios carefully curated by certified wealth management experts
Eliminating the location and distance barriers formerly preventing Nigerians from trading U.S stocks. Before you start proceed to buy US stocks in Nigeria using any of these apps, you should exercise caution by not investing huge amount of money at first. To be on a safer side, test out your preferred app with a small amount of money that you can afford to lose.
Top US Securities Investment Apps in Nigeria
- Bamboo
- Risevest
- Trove
- Passfolio
- Chaka
- WealthNG
Bamboo
Bamboo Investment is an online investment platform which gives Nigerians and other foreigners access to invest in over 3,000 securities listed on US stock and Nigerian stock exchanges through a free mobile app.
Bamboo has investing technology which allows you to invest as much or as little as you want in your preferred publicly listed US company, a bundle of companies called an ETF, other African-based companies, mutual funds, or fixed-income products from around the world.
On the app, you can discover the best global and local stocks to invest in and receive unrestricted access to the U.S. and Nigerian stock markets.
Bamboo maintains all its accounts with a top-tier US brokerage firm. It is also a member of the Securities Investor Protection Corporation (SIPC).
Bamboo Inc is registered by SEC (Security and Exchange Commission) both in the United States and Nigeria, and each Bamboo account is covered by a $500,000 insurance policy.
The app currently has about 500,000 registered users.
Risevest
With
Risevest app, Nigerians can start investing in US equities. You can start with minimum of $10 or the Naira equivalent. If you’re a novice or have no times, Risevest gives you the option to allow Rise professionals to manage and invest your money in a portfolio of vented US equities.
Risevest gives investors access to different investment portfolios such as stocks, US real estate, and fixed income, according to your risk appetite.
The stock selection method considers long-term performance, growth potential, and high-quality earnings.
The Rise app is available for Android and iOS smartphones.
Trove
Trove is one of the top online investing platform that allows Nigerians to leverage in both domestic and foreign stock market investment opportunities
Trove users can access more than 4,000 stocks including U.S. equities and exchange-traded funds (ETFs), American Depository Receipts (ADRs), and Nigerian Stocks listed on the Nigerian Stock Exchange (NSE). If you are interested in mutual funds, Trove got you covered as the app also offers mutual funds from top-tier Mutual fund providers in Nigeria.
Nigerian investors can start investing in TSLA shares with as low as an N1,000 deposit. With Trove you can invest in American, Chinese and Nigerian stocks, Bonds, ETFs etc. Trove app is compatible for both Android and iOS phones and tablets. Download Trove app from your respective apps stores.
Passfolio
Passfolio is more global than other apps above as it allows not only Nigerians to buy shares in the United States but also allows residents of about 200 countries access to buy US shares.
The San Francisco-based FinTech investment firm also allows users to fund their accounts by using crypto assets.
To break funding constraints some investors may face due to trans-border transaction laws, Passfolio gives users the option of first funding their accounts using cryptocurrencies, then convert into dollars via Passfolio Financial, then move the dollar proceeds to their brokerage accounts at Passfolio Securities, where they can be able to buy securities.
Passfolio Pro gives users access to advanced features such as Margin Trading, and Advanced Orders etc.
Chaka
Chaka is an investment app that provides Nigerians access to invest and trade shares in more than 40 countries including USA and Nigeria. Aside from Nigerian and American stock exchanges, Chaka provides access to global blue-chip companies from over 40 countries. With a minimum deposit of $10 or N1,000, you can start trading abroad shares of global blue-chip companies with at the comfort of your home.
If you prefer to trade in Nigeria stock market, Chaka will give you access top-performing Naira portfolios curated by certified wealth management experts. No prior investment experience is required.
Chaka has obtained the SEC’s First Fintech License. Local assets are registered with the Nigerian Stock Exchange (NSE), and Central Securities Clearing System (CSCS), and regulated by the Securities Exchange Commission of Nigeria (SEC).
Chaka allows you to earn money by referring other people to use the app. The refer-and-earn program offers you cash rewards for every friend you invite that creates an account and places a trade
of at least $10.
WealthNG
WealthNG is another online platform that allows Nigerians invest and trade in US stocks as well as in Nigeria equity market.
Owned my Sankore Securities Limited, WealthNG is one the companies to integrate technology into stock trading locally like purchasing shares in Dangote, UBA, GTCo and other Nigerian companies. Some of its products available on the app l include ETFs, REITs, and has stepped up its game by including foreign stocks.
With WealthNG, you will have access to global stock markets include the US securities
It’s an easy to use app, and when there is a change in price, users can easily get the information right on wealthNG app.
Investment through WealthNG can be funded via your Flutterwave wallet.
