Today we are going to be talking about the best apps to buy stocks in Nigeria I have personally used some of the apps on this list. With trove, you can even buy U.S stocks in Nigeria easily. There are already a lot of Nigerians that are making money by trading stocks. Trading stocks is not an easy task it requires a very good investment strategy to become successful.
It has some risk attached to it and you could lose some money if you don’t trade with caution. Just like every other business risk has to be involved. The level of risk is determined by the amount of money you invest when buying stocks. The stock market is volatile because prices fluctuate and they are not steady.
Most of the people who make the most out of stock trading are people who trade for a long period of time. For example, people that bought Tesla Stocks in September 2016 bought it at the rate of $41.08. as of the time of writing this, the price of Tesla Stocks sits at $747. Early investors have gained lots of profits. Well, enough of the talks let’s get down to business and show you what you came here for. if you are interested in buying cryptocurrency in Nigeria you can check here
Best Apps to Buy Stocks in Nigeria
Afrinvest is listed among the top-ranking firms for investment in Nigeria and is widely open to West African states also. Among the wide scope of online banking, Afrinvest is active in these four principal scopes: asset management, investment banking, investment research, and securing trading.
Afrinvest has a specific account for different people operating it. Different account types on the afrinvest platform come with different transaction limits. Afrinvest Pop Account is meant for individuals below 25 years old, who want to set out on a journey of financial liberation.
the Afrinvest Corporation Account is meant for organizations and it aids them to keep capital and earn more revenue. An Afrinvest Joint Account is a type of account in which two people operate, it is best for couples. Afrinvest Groove Account is also for young professionals, that are into a career and wish to start saving money.
To open an account with Afrinvest, you will need the following:
Trusted and reliable means of identification. (ID card)
You will have to open an account with ZERO NAIRA.
This app aid you to both save and invest money. It is a very easy app for you to manage your finances as a Nigerian. CowryWise is the best to use for investment, and with this app as a Nigerian, you can both invest and save as low as #100 daily, weekly, or monthly with a period plan.
Its features are:
Numerous savings and investment plans
The interest rate on savings.
A seamless move of money from the bank and vise versa.
Minimum of three months for saving and investment.
Savings and investments are secured by Meristem Trustees Limited, registered with the Security and Exchange Commission(SEC).
It has grown to be one of the most recommended apps for managing your finance. It is best for saving money though you can also it to invest. When you save using Piggyvest, individuals earn interest for doing that.
With Piggyvest you can invest in places like real estate, transportation, and lots more. You can invest with #1000 and also earn nothing less than a 25% interest rate over your capital. It also autosaves either monthly or weekly and referral programs that offer #1000 for the referral.
Carbon is one of the best apps you can use for loans in Nigeria and it allows you to take loans of more than #500000 without any form of collateral. It also offers different services.
With the carbon app on your Android, you can keep your money to meet a required target, and if it is for investment, carbon allows one to invest money within the range of Ten thousand Naira to Ten million Naira, with an interest rate of 16%.
Trove – best app to buy stocks in Nigeria
Trove finance is a Nigerian investment App launched in 2018. Its minimum investment is #1000. Trove App is not only open for Nigerians alone it is also for financial security all over the world.
It is a micro-investing solution, customers can buy and sell cryptocurrency, share and invest in bonds around the world. You can also sell your asset right from the App and have the funds deposited into your account. this is actually one of the best apps to trade stocks in Nigeria.
With Chaka, you can both invest in Nigeria and global stocks and it is among the best investment platform that gives Top Access to stock enumerated on Nigeria, U.S stock exchanges, and global blue Chip companies from over 40 countries.
Chaka does not delay in its withdrawal and it has a minimum deposit fee of #1000 for local stocks and $10 for Global stocks. it is one of the best apps to buy shares in Nigeria. It also charges a 1% commission when you trade above $200. Anything below $200 is a flat $2 charge. It issues is, the App crushes most times, and its customer service is low and automated feedback.
Rise is a global asset App that you can download into your smartphone. It is a means of investing and meeting people’s needs in Nigeria with the U.S dollar and other markets to advance their earnings and make their investment a good one. When you invest $10 by this you have security for your future in a long term, and with this same $10, you can engage in the U.S stock using this same App.
Risevest charges for managing your asset, with a cost range of 1.5% and 2% of the total asset under management (AUM) and returns. For someone that just want to start investing, Risevest is best recommended, and Risevest offers fixed asset, Real asset and lastly, Stock asset.
One thing you will like about Risevest is, it provides a prepared portfolio to just invest in, and a wonderful community experience with their Telegram group but the issue with Risevest is, it takes time before your withdrawal is approved and it does not give you the opportunity for autonomy in constructing your portfolio.
Meritrade launched its portal and its App in 2014 during the Nigeria stock exchange and it is a product of meristem securities LTD.
With this app you enjoy the certain benefit in your investment such as it is best in stopping loss and set gains limit, it teaches investors how to invest in the Nigerian stock exchange, it grants access to portfolio and cash statements, cash withdrawal can also be done on the app, with it buying and selling of online shares is encourage.
It is owned by Morgancapital securities limited and the app was released in 2014. It gives its users direct access to the Nigerian stock exchange, to buy and sell stock online, with little or NO LOSS.
Users of this app also have free and direct access to Data and Analytics, all at a brokerage fee of just 0.25%.
It is also an online platform pioneered by Greenwich securities limited and it is meant for stock traders. With this app, you can trade the listed shares on the Nigerian stock exchange from any location you are in. You can start up this trade with the minimum investment of #10,000.
The documents you need to open a private account with My Tradebook are:
A share certificate
Scanned passport photograph
A Scanned Utility Bill
Scanned signature and Bank details.
Invest bamboo is a mobile app that gives access to more than 3,000 stocks listed on the Nigerian stock exchange and U.S stock exchanges. With Bamboo on your Android phone, you can gift stock to another person.
The minimum trading amount in bamboo is $20.
the issue is that Bamboo has is it only offers a dollar wallet. it takes time in its withdrawal process and has no price alert feature to alert user changes in certain stock that they are watching.
it is not yet available on the web, but it also has a great advantage because it ensures all your positions and trades are insured by the SIPC (Securities Investors Protection Corporation) and FINRA (Financial Industry Regulatory Authority) up to $500,000.
Your money is well safe during stocks Trade, excellent customer service in case you come across any issue, and a nice user interface.
What apps can I use to buy stocks?
the apps listed above can be used to buy stocks especially if you are residing in Nigeria. Trove is my personal best app for buying shares in Nigeria because of its interface.
The app is well designed and has an interface that is easy to relate to as a new stock buyer.
Conclusion – apps to buy stocks in Nigeria
listed above are some of the most reliable apps that can be used to buy stocks if you stay in Nigeria.
if you want us to review these apps separately just reply with the name of the app you would like us to review in the comments below.