Recently updated on July 24th, 2023 at 10:56 am
Last Updated on July 24, 2023
Hey there, future savvy investor!
Are you ready to step into the exciting world of stock trading? Look no further, because we’ve got you covered with the ultimate guide to the best apps to buy stocks in Nigeria.
Whether you’re a seasoned trader or just starting on your investment journey, these user-friendly apps will empower you to buy, sell, and track stocks with ease. From real-time market updates to handy portfolio management tools, we’ve handpicked the top apps that offer a seamless and secure trading experience. So, let’s dive in and unlock the doors to the fascinating world of stocks right at your fingertips!
We live in a world where you can do anything from the comfort of your home. You can buy and trade anything from anywhere using your smartphone. In the case of stocks or shares, there are reliable apps to buy stocks in Nigeria. All you need to do is find the stock trading app in Nigeria that is suitable for you.
You can even choose to use more than one of these apps to buy stocks in Nigeria.
Buying stocks means you’re buying part of a company’s shares, which means you’re buying part of the ownership of that company. You can also choose to sell these stocks or shares at any time when they appreciate and even earn money from them through dividends. And you can do this all online, from your smartphone
In this article, we will give you details about the different aspects of stock trading apps in Nigeria so you can decide which are the best apps to buy stocks in Nigeria for you.
Pro Tip: When choosing a stock trading app in Nigeria, it’s best you look for the ones that offer advanced options to place your order. e.g, limit orders, bracket orders, etc. This feature can be quite helpful in extracting maximum gains while trading the stock market.
Before we get into the list of best apps to buy stocks in Nigeria, let’s answer some questions regarding stock trading apps.
Best Apps to Buy Stocks in Nigeria
Here are the best apps to buy stocks in Nigeria both local and foreign stocks:
Trove is one of the best apps to buy stocks in Nigeria. This app lets you invest in local and foreign stocks or shares. In essence, with Trove you can buy stocks from American, Chinese and Nigerian stock exchanges.
Trove also allows you to invest in bonds, REITs and ETFs. the app also has a suite of tools that helps you become a better investor.
The minimum investment amount on Trove is ₦1,000. The Trove App is available on Android & iOS.
Sometimes called Invest Bamboo, other times called Bamboo app, this stock trading app in Nigeria lets you trade US stocks from Nigeria. With this app, you have access to over 3000 stocks on the US stock exchange.
You can also buy an ETF (a bundle of stocks) with this app and gift stocks to other people as well. Bamboo is available on Android and iOS.
The minimum investment amount on Bamboo is $20.
Chaka is also one of the reliable apps to buy stocks in Nigeria. You can buy US and Nigerian stocks with this app. Chaka was the first fintech company in Nigeria to receive the SEC’s (Securities Exchange Commission of Nigeria) First Fintech License.
You can start trading shares with Chaka from as lows as $10 or N1000. Chaka is available on Android & iOS.
Risevest is quite different from the other apps to buy stocks in Nigeria mentioned above. Riesevest is an automated asset manager that lets you invest in dollar-denominated assets like foreign stocks, US real estate and fixed-income opportunities.
The Risevest app lets you invest in US stocks by letting you choose a stock investment plan for as low as $10. You just choose a plan and fund it and the Risevest team takes care of everything for you. You don’t have to do any research as this stock trading app is automated. Risevest is available on Android and iOS.
5. Chipper Cash
Chipper Cash is a cross-border money transfer app in Nigeria that lets anyone send and receive money across Africa and the UK. This app also lets you invest in Stocks and crypto (bitcoin)as well.
Chipper Cash is now part of the best apps to buy stocks in Nigeria as it lets you build your investment portfolio by allowing you to buy fractional shares of foreign publicly listed companies like Apple, Facebook, and Nike. Chipper offers low commissions and fast trade executions.
You can start stock trading with this app as well as use it as a money transfer service as well. Chipper Cash is available on Android and iOS.
Note: Passfolio has suspended operations in Nigeria
The Passfolio app lets you buy US stocks, ETFs, REITS and crypto.
Passfolio is a good stock broker in Nigeria to get started with if you’re interested in the US stock market. This app also offers commission-free trades and seamless deposit and withdrawal methods to its users.
You can start buying American stocks from Nigeria for as low as $1 with Passfolio.
Frequently Answered Questions on Stock Trading Apps in Nigeria
Are Stock Trading Apps in Nigeria Safe?
The apps that are listed in this article have been thoroughly researched and have shown to be gaining popularity and have good ratings. In regards to safety, when doing any online transaction it is important to be very cautious especially while sharing your bank details because fraudulent practices are present almost everywhere. Nonetheless, these apps to buy stocks in Nigeria that are mentioned in this article are safe and secure.
How Much Money do you need to Buy Stocks in Nigeria?
With stock trading apps in Nigeria, you can start buying stocks with as little money as $10 (~ N6000). Most of these apps for buying stocks in Nigeria usually have a minimum account balance required to start trading stocks on their platform but they are still very low. You should at least have around N10,000 to start buying stocks from Nigeria.
Can I buy Foreign Stocks like Facebook & Apple Shares and also Nigerian Stocks?
Some of these apps mentioned in the list below allow you to buy foreign stocks like Facebook and Apple as well as Nigerian stocks from the Nigerian stock market.
Should I Buy Stocks Online by myself or Should it be done for me?
Buying or trading stocks has become easier as you can download a stock trading app, do your research about the stock market and start trading. Now there are investment apps in Nigeria that help you invest in stocks without you lifting a finger to do research and make trades. All you have to do is choose a stock trading plan and fund it and they do the rest. It’s up to you. you can try both cases and see what works.