Access to data is unarguably the biggest factor for successful investment in stocks worldwide. This easily explains the level of attention and huge resources constantly deployed by the players in this industry to make sure investors are armed to the teeth with sufficient knowledge for making the best investment decisions. Nigeria is no exception to this stock market reality.
With the Nigerian stock market growing steadily and scoring global records – Nigerian stocks were the best performing worldwide at the beginning of the year 2018 – there comes with it the urgency to meet the pressing demand for data. The opportunities for wealth creation in the Nigerian stock market are endless, and there is even more awareness to this effect, thus an increasing number of investors in the market. But how do we plan to meet the attendant rise in demand for data and investment insights? One unique solution in the market today is YOCHAA.
Nigeria’s mobile phone penetration hit 84% at the end of 2017, and at the time, there were over 21 million smartphones in the country. The implication of these statistics is that Nigerians are far more available on mobile phones than they are on any other internet-enabled device, making it the most strategic place to deliver high-demand solutions like the need to access stock market information. That describes what the App YOCHAA has done.
YOCHAA is a mobile-based application that provides comprehensive access to data on the Nigerian stock market. Here are five compelling reasons why all Nigerian investors should download this app.
1. Data display is unique, and rich.
How unique is YOCHAA? When you download the app, one of the first things you notice is a color-coded collection of tiles labelled with stock symbols. The developers call it the HEATMAP. Without necessarily paying attention to the numbers on display, you can already have a grasp of how the different stocks are faring for that day. The darker the green, the better the performance of that stock, the darker the red, the worse. It gets even better, when you touch a tile, it shows more information including a clear chart of stock price over a selected period, stock performance history and key trade statistics at the end of that day in trading. The filter tool also makes it possible for you to see just some selected stocks at a time.
2. Rich source of free analyst recommendation!
The developers of YOCHAA place a huge premium on user-satisfaction. For starters, YOCHAA has a comprehensive in-app library of articles to help all new investors in the Nigerian stock market find their feet. These short but straight-to-the-point articles are carefully authored by professionals in the field. Same goes for stock recommendation articles posted to the app. On YOCHAA, users also get up-to-date news relevant to trading Nigerian stocks, the app even goes as far as sourcing rich content from credible third-party platforms like Nairametrics, Bloomberg and Reuters. The ultimate goal of the developers remains the enlightenment of its users towards profitable investments, and they make all these resources available, free of charge.
3. You can practice trading stocks, without losing real money.
This feature of the app is a recent inclusion that helps to significantly minimize your investment risks in the real market. How does this work? The demo first serves you N80,000 with which you can buy stocks. With this cash, you can begin to populate your demo portfolio with stocks and monitor how they perform over time. Side-by-side your demo portfolio is also another portfolio managed by backstage analysts, you can always tap insights from their portfolio to boost yours. The big idea here is that you can take your time to taste various trading styles and try various stock combinations till you find what is best for you, without having to lose any money. Once this winning combination is found and you are confident about it, then only can you call your stockbroker to lock it down with real money.
4. Beyond just numbers, you are served company fundamentals too.
Numbers are good for investment, but that remains only a fraction of all you will need for successful investment. More to numbers is the need to know some other fundamental issues surrounding a stock. These other issues would include quality of leadership of the company that owns the stock, levels of competition within the market of that stock, the influence of government policies and many others. YOCHAA understands the place of these other fundamentals too and makes them available to users. This section of the app is constantly updated to keep up with the most recent developments around the different stocks.
5. YOCHAA is the first and the best of its kind.
This is not a brag, it is a fact. YOCHAA is the first mobile-based solution for data access in Nigeria. Many positive reviews by current users of YOCHAA also attest to the fact that the app is the best in its category. In one of such testimonials, a user wrote “This app has been [of] tremendous help in my choice of stock selection, fundamental analysis and news update. The market information is precise, educative and currently timely and up to date. We encourage Yochaa for this bold step!!”
Users also appreciate how strategic the solution YOCHAA provides is, one user wrote “Yochaa is the best initiative by the great minds to solving Nigerian stock exchange online problems. I give kudos to the great people that started this.” One user dropped a review on the Google PlayStore and concluded as follows, “Super app. There is none like it on Nigerian stocks.”
HOW CAN YOU DOWNLOAD THE APP?
For android users, go to bit.ly/yochaaandroid
For iOS users, go to bit.ly/yochaaios
You can also go to the Google PlayStore and AppStore (for android and iOS users respectively) and search for YOCHAA. You will identify the app with its logo, a blue graph. Click on it and download.
The YOCHAA team can be reached for questions, guidance and recommendations by the following means;
Email: info@rme-ideas.com
Facebook: facebook.com/yochaaapp
Twitter: twitter.com/yochaaapp
YOCHAA is a product of rigorous work and dedication to excellence, and it is living up to the expectation of keeping its user ahead, smart ant informed. You too should download the app to stay ahead.
I love the app, its really good for a beginner
Thr portfolio part refused to sign me up despite multiple trys on different occasions
Your article is quite helpful, however I think it would be very enlightening to the reader if you did some sort of a detailed comparative analysis with other similar and competing apps, equally giving their relevant pros and cons.
Doing such would likely dispel any suspicions that your endorsement is not some form of disguised promotional advert paid by the developers of the app.
‘Nairametrics often allows the usage of its website for businesses wishing to send out important press releases, articles and other communication forms of their products, services, events, employees, and personalities. Some of these articles are paid for.’
They’re not hiding the fact that the article was paid for.
Hi Nairametrics, have you guys done any reviews for Stockbrokers or any apps useful for actually investing on the NSE? perhaps something useful for anyone interested from any part of the world apart from the old stuffy stockbrokers
Tha’s a good idea. We will look into this.