Last Updated on November 30, 2022
Bamboo, also called “BamBoo Investment” or “invest bamboo” is an online investment platform that gives Nigerians unrestricted access to invest in over 3,000 stocks listed on the U.S. stock exchanges and Nigerian stock exchange through an app.
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Bamboo Investment Review
4.0 Koboline rating
Bamboo gets 4 stars out of 5 for overall performance. With Bamboo, any Nigerian can buy, hold or sell U.S and Nigerian stocks. The Bamboo app also possesses a neat feature that allows anyone to gift stocks to another person. You can also diversify your investments on Bamboo by buying into a bundle of stocks (called an ETF).
Ratings at Koboline are determined by taking into account pricing, discounts, ease of use/filing a claim, website transparency, customer reviews, and complaint data from social media.
Is Bamboo Investment Legit?
Yes, Bamboo is a legit platform that holds all its accounts at a top-tier U.S. brokerage firm; a member of the Securities Investor Protection Corporation (SIPC).
Bamboo is also registered with the SEC (The Security and Exchange Commission) of both the United States and Nigeria.
Each Bamboo account is insured for up to $500,000.
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How Safe is the Bamboo Investment App?
The Bamboo Investment app is a safe app that uses state-of-the-art bank-level security features that include data encryption and two-factor authentication (2FA) protection on all Bamboo Investment accounts.
Who are Invest Bamboo Founders?
Invest Bamboo co-founders Yanmo Omorogbe and Richmond Bassey started the Bamboo investment app to simplify the know-how and onboarding requirements for US brokerage firms, so restricted potential standalone middle-class investors in Nigeria can invest.
How Bamboo App Works
Here’s how to invest with the Bamboo investment app:
- Sign Up by downloading the app and creating your account on Bamboo
- Verify your identity by inputting your BVN number on the app.
- Explore and discover thousands of American and Nigerian stocks.
- Invest by funding your Naira & Dollar accounts on the app to start buying and selling shares instantly in just a few taps.
- Track your investments on the bamboo app so you can make adjustments to your investment portfolio.
Product Features of Bamboo Investment App
- Platforms: Android, iOS
- Minimum investment amount: $20.
- Required Documentation: Government Issued ID and a Utility Bill ready. 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. Bank Transfer.
- Holding period: As long as you like.
- Investment monitoring: You can track returns on investments purchased through the Bamboo app.
- Withdrawals: A withdrawal order from the app will take between 1 to 2-3business days for your funds to settle in your account.
- Security: Bamboo uses state-of-the-art bank-level security, data encryption and two-factor authentication (2FA) protection on all accounts. All accounts are held at a top-tier local and U.S. brokerage firm; which, as a member of the Securities Investor Protection Corporation (SIPC), insures each Bamboo account up to $500,000.
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Is Bamboo my best option for buying foreign and local stocks?
The bamboo app is well-designed for people who are new to investing through buying stocks. It is also very suitable for more experienced investors. Bamboo’s sleek design and user journey make it a great option.
Note: Bamboo is a legit platform for investing in stock but it does not currently provide investment advice and individual investors should make their own decisions or seek independent advice. The value of investments in stocks/shares can go up as well as down and you may receive back less than your original investment. Bamboo is a technology platform, not a registered broker-dealer or investment adviser.