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Here’s how to invest in US stocks from Nigeria

Here’s how to invest in US stocks from Nigeria

Find out how @trovefinance can help you trade on the floor of the @NYSE and @Nasdaq



US stock market, US stocks, Trove Finance

The US stock market is the biggest stock market in the world, accounting for over 50% of global stock market value. The combined market capitalization of the NYSE (New York Stock Exchange) and NASDAQ is currently about $40.2 trillion.  For comparison, the Nigerian stock market has a total market cap of $38.3 billion.

US stock market, US stocks, Trove Finance

It doesn’t matter what you’re investing in.  Be it stocks, bonds, real estate, or any other financial instrument, the goal of investing is simple: generate extra income.

Arguably, stocks have shown to offer the most potential for growth as compared to many other asset classes. They are also far more liquid and diversifiable than real estate and many other fixed-income assets.

US stock market, US stocks, Trove Finance

As a Nigerian, investing in the US as a non-resident was a difficult process prior to now. Most international brokerages would require, at minimum, a valid US visa or a green card in order to be able to invest in the US stock market. Investing in foreign markets was also relatively limited to high net worth individuals (HNIs) as the amount required to invest was, typically, in the thousands of dollars range.

One of the most common questions in investment groups and forums is “How do I buy shares of Apple, Tesla, Dropbox, Uber or Facebook?”

The NYSE and NASDAQ being the most valuable stock markets in the world have consistently outperformed every other market. Unfortunately, they have been largely inaccessible to Nigerians and Africans in general… until now.

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US stock market, US stocks, Trove Finance

This article will serve as a guide to get you started in investing in the US Stock Market.

What you will need:

  • Your Bank Verification Number (BVN)
  • Your Valid international passport
  • A recent Utility Bill or Bank Statement

How to get started

Download the Trove Android or iOS  App from the Play store or App Store, respectively.

Curious about what Trove is?

Trove is a digital investing platform that lets you invest in stocks, bonds, exchange-traded funds (ETFs) and other securities directly from your smartphone.

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How secure is Trove?

Trove ensures your personal information is secure by its use of 256-bit encryption & that your personal data is stored using cutting edge technology.


Trove’s partner, DriveWealth LLC, a self-clearing broker in the US is a regulated member of FINRA/SIPC and holds all the US trading accounts on Trove. It also protects securities holdings of its members of up to $500,000 (including $250,000 for claims for cash).

Trove’s other partner, Sigma Securities Limited, a broker-dealer regulated by the NSE (Nigerian Stock Exchange) & Securities and Exchange Commission, holds all Nigerian trading accounts.

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Product Features of Trove:

  • Platforms: Android & iOS
  • Minimum Account Opening Balance: $10
  • Required Documentation: International Passport and a Utility Bill or Bank Statement. The documents will be an image not an actual physical copy. Some basic information like (Verified Email Address, Verified Phone Number, Bank Account Information).
  • Payment Options: Mastercard, VISA and Verve cards issued by Nigerian Banks. You can also fund your wallet via a Bank Transfer.
  • Holding period: As long as you like.
  • Security: Bank Grade Encryption
  • Investment monitoring: You can track returns on investments purchased through the Trove app.
  • Withdrawals: You can withdraw uninvested cash in your wallet. You would however have to wait for 3 business days in the case of Dollar denominated withdrawals. If you’re withdrawing more than your invested cash, you’ll need to sell some of your purchased assets. Sell orders take get executed in real time. You can either choose to deposit the funds into your wallet or bank account.

Why you should invest with Trove?

  1. Low Minimums: Compared to other investment platforms that have high minimums, Trove allows you buy stocks of US companies with as little as $10.
  2. Fractional Shares: Trove lets you buy fractional shares in companies like Apple, Google, Facebook, etc. With fractional shares, rather than buy a full share which can cost hundreds of dollars, you can buy a fraction of a share.

About Trove Technologies Limited

Trove Technologies Limited built and wholly owns Trove, a technology platform that allows Africans to invest in financial securities locally, within the continent, and internationally, outside the African continent. Trove also provides APIs and tools to broker-dealers and fund managers in order to provide access to global markets. Trove neither offers its own recommendations on any security nor provides its own research to any user per any security transaction and/or order. Trove is a technology platform, not a registered broker-dealer or investment advisor.

For more information, please visit

You can also follow Trove on Twitter @trovefinance, Instagram @trovefinance and on Medium @trovefinance

NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.



  1. Chinedu

    July 8, 2019 at 1:07 pm

    How do you collect your dividends from Us?

    • Joseph Akalonu

      July 9, 2019 at 6:27 pm

      I think they said dividends are credited to the wallet held with the us broker.

    • Oluwatomi

      July 9, 2019 at 11:52 pm

      It is applied to your dollar wallet balance and can be withdrawn to the bank account attached to your profile or reinvested in some other stock at your discretion.

    • Cjly

      August 25, 2019 at 4:23 am

      Hi guys, is there any trading platform with good tools like Fibonacci in Nigeria that one can use to trade Niger stocks? Just like MT4 or TRADING VIEW

      • Alfred Akuki

        August 26, 2019 at 9:06 am

        Hi Cjly, I don’t really know of any but I know you can load price list unto MT4 for technical analysis.

  2. Dotun Kadir

    July 8, 2019 at 1:45 pm

    Thank you for your article.
    Its long overdue in the world of today not to have access to investment out of the country – especially for Nigeria.
    Question. Does it have to be one’s International passport? Driver’s licence not accepted?
    My passport is long expired, can i still use it?

    • Big JOE

      July 9, 2019 at 4:58 pm

      i was about to ask the same question. it would go a long way if other means of identification is acceptable.

    • Oluwatomi

      July 9, 2019 at 11:44 pm

      Hello Dotun,

      Unfortunately you need an International passport to participate in the US markets. For now that’s the only acceptable ID for trading foreign securities. You can however trade Nigerian Stocks on the app pending when we add any other IDs to the list of acceptable ID’s for trading US stocks.

  3. Obazee Osazee

    July 8, 2019 at 3:14 pm

    There is a problem linking my bank account to app

    • Oluwatomi

      July 9, 2019 at 11:50 pm

      Hello Obazee,

      A customer representative would reach out to you. The issue was device specific, affecting a tiny subset of iPhone users.

      Kindly update your app to the latest version. Should fix the issue

  4. Matthew Kuyoro

    July 26, 2019 at 11:10 pm

    Is it possible to invest in US Index funds like the Dow Jones and S & P 500 on Trove.

  5. Festus

    September 20, 2019 at 5:46 pm

    I have for long for such development. When can we expect a desktop version or even web platform that can be used on laptop?

  6. Anyichie Sunday

    November 21, 2019 at 10:07 pm

    How sure was it that your fund can be scam, bcos it seem that everyone here is new in using trove.

  7. Anyichie Sunday

    November 21, 2019 at 10:33 pm

    Please how can i get a referal code to open trove?

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