Best Investment Apps for Students

The higher institution is usually one of the best times for individuals to start investing their money, and it’s important to find an investment platform that grows with you as your financial needs change. The best investment apps for students offer this flexibility, making them powerful enough for long-term use while still being simple enough to understand at first glance. They offer you legitimate investment opportunities that allow you to invest your money in different types of assets, from local and foreign stocks to real estate and fixed-income assets like bonds and market funds. The best part is that you, the student don’t need lots of money to begin investing.

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These platforms will also ease the transition from college life by providing all the personal finance tools in one place. Investing doesn’t have to be complicated or scary.

These are the top five investing apps any student can start investing in:

1. Risevest

Risevest happens to be one of the most unique investment apps in Nigeria, as it allows you to invest in dollar denominations. So basically, anyone can make automatic dollar investing in Nigerian Real Estate, Stocks, and US Eurobonds for $10 just using their smartphone.

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Here are some of the features of the Risevest app:

• Available Platforms: Android, iOS
• Minimum investment amount: $10
• Required Documents: Government-issued ID alongside other basic information like (verified email address, verified phone number, and bank account information).
• Payment Options: MasterCard, Visa, and Verve cards issued by Nigerian banks.
• Investment Monitoring: You can track the return on investment purchased through the Risevest App.
• Security: Rise uses PCI-DSS-compliant bank-grade security and two-factor authentication to protect all user accounts.

Risevest is registered with the SEC in the United States and user funds are supervised by their partners (ARM trustees) who are registered with the Nigerian Securities and Exchange Commission (SEC) so you know that your funds are safe and secure.

2. Bamboo Investments

Bamboo or “Invest Bamboo” is one of the best Nigerian investment apps that allows you to invest in foreign stocks. Bamboo gives unrestricted access to over 3,000 stocks listed on the U.S. stock exchange. You can buy, hold, or sell foreign and local stocks on the Bamboo platform directly from your mobile phone.

Some of the features of the Bamboo App are:

• Available Platforms: Android, iOS
• Minimum investment amount: $20.
• Required Documents: Government-issued ID and utility bill prepared. Some basic information like (a verified email address, verified phone number, and bank account information).
• Payment Options: MasterCard, Visa, and Verve cards issued by Nigerian banks. Bank transfer.
• Investment Monitoring: You can track the return on investment purchased through the Bamboo App.
• Security: Bamboo uses industry-leading bank-level security, data encryption, and two-factor authentication (2FA) security on all accounts.

3. Chaka – Equity Investments

Chaka, one of the leading investment apps in Nigeria grants you access to top-performing dollar portfolios curated by certified wealth management experts. You can start trading shares with Chaka with as little as $10 or N1000. Chaka is fully licensed by the SEC of Nigeria.

Some of the features of Chaka include:

• Available Platforms: Android, iOS, Web
• Minimum investment amount: $10 or N1,000.
• Required Documents: Government-issued ID and utility bill prepared.
• Payment Options: MasterCard, Visa, and Verve cards issued by Nigerian banks.
• Investment Tracking: You can track returns on investments purchased through the Chaka website or app.
• Security: Each Chaka account is protected by bank-grade AES encryption software. It protects the communication between user devices and our servers.

4. Trove – Foreign Stock Investment App

Trove is a digital stock investment app in Nigeria that lets you invest in US, Chinese and Nigerian stocks. It doesn’t stop here, with this Nigerian investment app, you can also invest in bonds, REITs, and ETFs.

The minimum investment amount on Trove a 1,000 Naira.

These are some of its features:

• Available Platforms: Android, iOS
• Minimum investment amount: 1,000.
• Required Documents: Government-issued ID and other necessary information.
• Payment Options: MasterCard, Visa, and Verve cards issued by Nigerian banks.
• Investment Monitoring: You can track returns on investments purchased through the Trove app.
• Withdrawal: You can withdraw money that has not been invested in your Wallet for 3 business days or more. If you withdraw more than your invested money. You will have to sell some of the properties you have purchased. If you submit a sell order, it will take 1-2 business days for the funds to be credited to your account. You can choose to deposit funds into your wallet or bank account.
• Security: Trove ensures that your personal information is securely encrypted with 256-bit encryption. and stored using state-of-the-art security technologies.

5. PiggyVest

PiggyVest is one of the most popular savings and investment apps in Nigeria to save and invest money via the internet as it has more than 3million customers.  Since its launch in 2016, PiggyVest has helped in managing users’ money better, avoiding overspending, and being more accountable. It started as a purely digital savings company but quickly became an investment vehicle due to its high-interest rates. PiggyVest allows people to safely and confidently invest with a minimum of N5,000 on the go.

PiggyVest Investment Plan (Invest) allows its users to invest in various assets like fixed income, agriculture, and transportation where you can earn up to ~25%. You can also invest in a savings account and earn 5% to 15% on your savings

Some of the features of PiggyVest are:

• Platform: Android, iOS
• Interest Rate: 5% – 25% p.a.
• Withdrawal fee: 5% fee for withdrawals outside certain withdrawal days (4 free withdrawal days per year)

CONCLUSION

These apps are sure to help students start investing and grow their money.

These Investment platforms grow with the user and make their money work for them, teaching students how to invest in stocks, bonds, ETFs – even how to open a Roth IRA account!

These apps are designed from the ground up to be easy to understand as well as powerful enough to meet the long-term investment needs of the students. Hopefully, students choose to invest in long-term asset appreciation.