How to invest in foreign stocks from Nigeria

How to invest in foreign stocks from Nigeria

Are looking to invest in foreign stocks from Nigeria? Then there are a few ways to go about it. You can either use an online broker or a local brokerage firm to open a brokerage account.

However, these options can be difficult. Because of the documentation required and money transfer regulations. Fortunately, a set of alternatives, let’s call them online investment platforms exist, that takes away all the hassle involved with opening a brokerage account.

With these online investment platforms, you can invest in foreign stocks from Nigeria. Some of let Nigerians invest in international and local financial opportunities. Like the US, Chinese & Nigerian Stocks, Government Bonds, US ETFs and even the US real estate market.

Why invest in foreign stocks from Nigeria?

Stocks have shown to offer the most potential for growth when compared to bonds, and offer more liquidity and diversity than real estate.

In today’s global world, financial investment opportunities are not limited by geography.  Anyone with a smartphone can engage in the global economy and own financial assets in any country. Without the need to be a resident of the country.

When you invest in foreign stocks as a Nigerian. There are three main benefits you gain. These benefits include; earning an income through dividends. Diversification of an investment portfolio and becoming a stakeholder in foreign and global companies.


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Invest in foreign stocks from Nigeria with online investment platforms.

The best way to invest in foreign stocks from Nigeria is through a set of online investment platforms. With these platforms you can easily create a trading account, purchase stocks and monitor your portfolio. All from your smartphone.

The best investment platforms to invest in foreign stocks in Nigeria are

Piggyvest-refer

1. Trove

trove app review invest in foreign stocks from nigeria

Trove is an app that allows anyone to invest in foreign stocks from Nigeria. The stocks you can invest in with the Trove app are American, Chinese and Nigerian stocks. You can also invest in bonds, ETFs and more with as little as ₦1,000 using Trove.

The company seeks to spread the idea of micro-investing. The belief that anyone can build wealth by investing small sums of money on a regular basis. Rather than investing a huge sum of money at once.

Trove gives you access to tools that can help you become a smart investor. You can also choose to transfer your investments to another brokerage from Trove. But, you will need to close your Trove account to do so.

Product Features of Trove App

  • Platforms: Android, iOS
  • Minimum investment amount: ₦1,000.
  • 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 Trove app.
  • Withdrawals: You can withdraw uninvested cash in your wallet for 3 business days or more. If you’re withdrawing more than your invested cash. You’ll need to sell some of your purchased assets. If you submit a sell order it will take between 1 to 2 business days for your funds to settle in your account. You can either choose to deposit the fund in your wallet or bank account. For foreign securities, the least amount you can withdraw a is  $50.
  • Security: Trove ensures your personal information is well encrypted with 256-bit encryption. And stored using cutting edge security technologies. Trove’s partner, DriveWealth LLC, a regulated member of FINRA/SIPC. 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).  Its other partner, Sigma Securities. A firm regulated by the NSE & Securities and Exchange Commission. Holds all Nigerian trading accounts. While ARM Investment Managers, a licensed Asset manager in Lagos, Nigeria. Acts as Investment managers for the  Portfolios on Trove.

Sign Up to Trove

2. Bamboo

Bamboo review invest in foreign stocks from nigeria

With Bamboo, any Nigerian can invest in more than 3500 stocks on the American stock exchange and Nigerian stock exchange.

Nigerians can buy, hold, or sell stocks on these exchanges right from their mobile phones or computers.

Bamboo’s goal is to give Nigerians grow their personal wealth by giving them access to invest in foreign stocks from Nigeria.

Product Features of Bamboo 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.

3. Rise

rise app review invest in foreign stocks from nigeria

Rise formerly (Cashestate) permits any Nigerian to invest in dollar-denominated opportunities from as low as N3,600. Using their smartphone. These investment opportunities include 30 high-growth US, fixed income (Eurobond) and US real estate.

Rise add stocks that are undervalued and have high potential to its stock index after a thorough analysis. While also monitoring the portfolio companies for growth.

Rise’s historical annual returns on US stocks is about 14%, making it one of the best mediums to invest in foreign stocks from Nigeria. However, actual returns depend on the market.

Product Features of Rise App

  • Platforms: Android, iOS
  • Minimum investment amount: N3600.
  • 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: You can choose to make your investment plan available on-demand and also choose longer investment durations.
  • Investment monitoring: You can track returns on investments purchased through the Rise app.
  • Withdrawals: Same day withdrawals.
  • Security: Rise uses PCI-DSS compliant, bank-grade security and two-factor authentication to protect all users accounts. Rise are SEC-registered investment advisers in the US and users funds are overseen by our partners who are also registered with the Nigerian Securities and Exchange Commission (SEC) so you know that your funds are safe and regulated at the highest standard of compliance.

4. Chaka

chaka investment app review invest in foreign stocks from nigeria

Chaka calls itself the Investment passport for Nigerians. You can invest in foreign stocks from Nigeria with the Chaka platform. It allows any Nigerian to buy and sell US, Nigerian, and Chinese stocks from any device.

You can start trading shares with Chaka from as lows as $10 or N1000.

Chaka like the other online investment companies on this list aims to give Africans the opportunities to trade and invest in foreign stocks.

Product Features of the Chaka App

  • Platforms: Android, Web
  • Minimum investment amount: $10 or N1000.
  • 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 you like.
  • Investment monitoring: You can track returns on investments purchased through the Chaka website or app.
  • Withdrawals: Withdrawal of your available cash in your account can take up to 12 hours from when your request was made. To withdraw cash from sold stocks, it takes 3 days.  It takes 2 days for the stock exchange (locally and globally) to settle cash for sold shares. It would take an extra day to process the transaction.
  • Security: Every Chaka account is protected by bank-grade AES encryption software. That protects communication between users devices and our servers.

The Emergence of online investment companies is simplifying investing for Nigerians. You don’t need to be wealthy, to partake in the global economy. You can invest in foreign and local stocks, Government bonds and ETFs. Through a mobile app with a little sum of money.

Although most of these online investment platforms target customers are millennials.  Anyone that is quite savvy with a smartphone can invest in foreign stocks using any of these platforms.

Note: Investors should consider their investment objectives. And also their unique risk profile of all individual asset types carefully before investing with Trove or any other Investment instrument.

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2 Comments
Joe

Can I trade all US pinksheet and OTC shares with this app or there are restrictions

Appreciating the commitment you put into your site and detailed information you offer. It’s awesome to come across a blog every once in a while that isn’t the same unwanted rehashed information. Wonderful read! I’ve bookmarked your site and I’m adding your RSS feeds to my Google account.

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