Key highlights
- Buying and investing in US securities from Nigeria is easy with the help of various investment apps for US stocks
- Some Nigerian traders can invest in shares with a $10 (N1,000) deposit.
- Most of these apps give you access to top-performing portfolios curated by certified wealth management experts
The US stock market is one of the most appealing platforms for investors regardless of investment style, experience, or purpose.
Buying and investing in US securities from Nigeria or being a non-US citizen used to be quite difficult. Now due to technological advancements, Nigerians can invest in the US stock market online.
Bamboo
Bamboo, also known as “BamBoo Investment,” is an online investment platform which allows Nigerians to invest in over 3,000 securities listed on US stock and Nigerian stock exchanges via a free mobile app.
Bamboo operates a fractional investing technology which allows you to invest as much or as little as you want in your favourite 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 has SEC (Security and Exchange Commission) registrations in both the United States and Nigeria, and each Bamboo account is covered by a $500,000 insurance policy.
So far, the app has more than 500,000 registered users.
Trove
Trove, an online investing platform, enables Nigerians to participate in both domestic and overseas financial investment opportunities.
Over 4,000 stocks are on Trove, including U.S. equities and exchange-traded funds (ETFs), American Depository Receipts (ADRs), and Nigerian Stocks listed on the Nigerian Stock Exchange (NSE). The app also offers mutual funds from top-tier Mutual fund providers in Nigeria.
Nigerian traders can start investing in TSLA shares with an N1,000 deposit. One can invest in American, Chinese and Nigerian stocks, Bonds, ETFs and more. Trove is accessible for both Android and iOS phones and tablets.
Chaka
Aside from Nigerian and American stock exchanges, Chaka provides access to global blue-chip companies from over 40 countries. You can start trading abroad shares with Chaka for as low as $10, or N1,000 in local money.
On the app, you can get access to top-performing Naira portfolios curated by certified wealth management experts. No prior investment experience is required.
Chaka has a refer-and-earn program where you can earn rewards for every friend you invite who creates an account and places a trade
of $10 (or more).
Chaka is a recipient of 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).
Risevest
Nigerians can start investing in US equities with the Rise app for as little as $10 or the equivalent in Nigerian Naira. Investors have the option to allow Rise professionals to manage and invest their money in a portfolio of hand-picked US equities.
Unlike other platforms, Rise lets you pick between 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. Unlike other platforms, Rise lets you pick between stocks, US real estate and fixed income, according to your risk appetite. The Rise app is available on both Android and iOS smartphones.
Please I would love to know, if can I use the Bamboo app to buy Shares from Nigeria’s stock market eg First Bank Conoil, etc.?
Thank you for this informative article.
I have a question.
Is it possible to buy shares of American companies from those platforms you reviewed and hold the shares for a long time?
For instance, I want to buy the stocks of an American tech startup and hold them for 10 years or more.
How do I reclaim and resell my shares if those platforms you reviewed didn’t last for that period of time?
Thank you for this informative article.
I have a question.
Is it possible to buy shares of American companies from those platforms you reviewed and hold the shares for a long time?
For instance, I want to buy the stocks of an American tech startup and hold them for 10 years or more.
How do I reclaim and resell my shares if those platforms you reviewed didn’t last for that period of time?