Investment apps empowering Nigerians to invest in US stock market
A lot of Nigerians want a piece of the action in the US stock market but are not sure how to go about it.
If you are wondering why anyone could be obsessed about investing in the US stock market, the US stock market is the most valuable stock market in the world, creating wealth running into billions of dollars each day for investors.
As of 2019, the total value of the stocks traded in the United States stood at $23.1 trillion, according to the World Bank collection of development indicators. This makes the US stock market the gold standard in global stock trading.
Unfortunately for Nigerians and Africans, the market has been largely inaccessible to until recently when some investment tech start-ups have emerged with backing from broker-dealers registered in Nigeria and the US to provide platforms that will allow average Nigerians access and invest in local and foreign markets.
So, if you are considering buying shares with Apple, Tesla, Dropbox, Uber or Facebook etc, here are some of the online investment platforms that have made it possible for Nigerians to invest in US stock market. This is in no particular order.
TROVE
Trove is a mobile investment application for beginners and professional investors. It allows users to access daily news about assets they hold and provide risk analysis of these assets.
On the application, you can credit your Trove wallet daily, weekly, or monthly by automating the setting accordingly. You can download Trove on google play store and on Applestore.
Also, read #SmartKobo: 4 places you can invest in Nigeria and earn huge returns
The minimum capital needed to start up is ₦1,000 and can be paid in via your ATM/bank Transfer. The Investment offerings covers Chinese stock market, Nigerian stock market, US stock markets and government bonds.
Check it out here https://troveapp.co/
BAMBOO
The barrier of entry for individuals of any income bracket to start their investment journey, although high, is different on Bamboo.
With just your bank verification number (BVN) and contact details, you can join Bamboo and have access to over 3,000 stocks in the US stock market.
Bamboo also allows users to diversify their portfolio by buying into a bundle of stocks, commonly known as exchange-traded funds (ETFs).
And you can do all these from your mobile phone with zero paperwork. Unlike Trove, the minimum capital required is ₦7,000. Payment can be done through a Naira card, dollar card, bank transfer and wire transfer. Read more https://investbamboo.com/
CHAKA
Chaka is a web-based platform for users looking to invest in Nigeria and the US stock markets. With access to over 40 countries worldwide, users have many options to choose from.
Chaka says its mobile application is still in the works. The minimum capital required for a start is ₦3,000 and the payment options are naira card, dollar card, and bank transfer, while the investment offerings are: Nigeria stock market, US stock markets, and blue-chip companies in 40+ countries. Read more https://chaka.ng/
RISE
A personal asset manager and investment adviser, Rise claims to be the first digital investment platform to offer globally diversified dollar investments in Nigeria.
With options in three different dollar-denominated assets, Rise makes them accessible to customers looking to build a stable portfolio free of naira devaluations.
Rise can be downloaded on Android and IOS and the minimum capital require is ₦3,600. The Investment offerings are US real estate, US stocks and Eurobonds. Read more https://rise.capital/
Although these investment platforms that have set out to help Nigerians invest in US stock market promise security and opportunity to invest in the world’s biggest markets, they have been around for just a few years. Some as old as a few months. Therefore, it is imperative for users to carefully review them and make their choice as they see fit.
Disclaimer: This information reflects what is currently displayed on the respective platforms’ websites, and may be subject to change.
