How To Buy Foreign Stocks In Nigeria Using Online Investment Companies

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Investing in publicly traded assets is undeniably a great avenue for augmenting one’s money. With the recurring cases of Naira fluctuations seeming bothersome, there’s every cause for shrewd Nigerian investors to invest in dollar assets.

If you’ve ever imagined the benefits of buying publicly traded assets from the US or China from Nigeria, you may want to find out the online investment companies which enable you to invest in foreign stocks.

This article provides you with a list of the best online investment companies for Nigerians to trade in foreign stocks. Notably, each of these companies has either a dedicated mobile app or web-based platform through which you can trade in its applicable foreign stocks.

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What Are the Best Online Investment Platforms for Nigerians to Invest in Foreign Stocks?

Trove

This mobile application is available to users of both Android and iOS device platforms for trading in various items including Nigerian market stocks, government bonds, US market stocks and Chinese market stocks. While Trove lets you begin your trading with as low as $2.75 (equivalently #1000), it also allows for payment to be made either through bank transfer or your Naira card.

Whether you’re an expert investor or simply an amateur, you can rest assured that Trove will suit your needs. Meanwhile, the app avails you the chances of creating a digital wallet and obtaining information about the assets you hold.

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Bamboo

Bamboo is specifically for the US stock markets and it requires you to provide only your contact details and BVN for its registration. While Bamboo mandates you to have the minimum of $20 (equivalently #7000+) as startup capital, you’ll likely cherish the platform for the access you’ll have to 3000+ US market stocks.

With Bamboo, you don’t get occupied with any paperwork before you can trade in foreign shares. Besides this advantage, the Bamboo investment app guarantees you the ease of diversifying your asset holding. Notably, the Bamboo app works on both iOS and Android device platforms.

 

Rise

Rise is a digital investment platform with a self-proclaimed record as Nigeria’s pioneer provider of globally diversified dollar investments. Notably, Rise is vastly touted as an investment advisor cum personal asset manager which further engages in the offering of dollar-denominated assets targeted at investors willing to evade naira devaluations.

As regards investment offerings, Rise avails its customers the chance of trading in Eurobonds, US stocks and US real estate. While this Rise investment platform is usable on both iOS and Android device platforms, it is notable that $9.92 (equivalently #3600) is its minimum capital requirement.

 

Chaka

Chaka, unlike the other investment platforms on this list, is a web-based platform which allows investors to make payments for transactions via bank transfer, dollar card and Naira card. One enviable advantage of Chaka is obviously its support for blue-chip companies in more than 40 countries. Notably, Chaka stipulates the minimum capital of $10 (equivalently #3,600+) and it is considered a pretty online investment platform for Nigerians interested in the stock markets of Nigeria and the US.

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Sincerely, Chaka is a great online investment platform for Nigerians willing to trade in foreign shares (particularly US stocks) but the downside of the platform is its lack of a mobile application at the moment. Anyway, it has been stated that a mobile application is being worked on and should be available soon.

 

 

Conclusion

We believe you enjoyed this brief review of the leading online investment companies for investing in foreign shares from Nigeria. Advisably, it behoves you to extensively research about each of the said online investment companies before eventually opting for one.

The reason for the preceding statement is that the companies were launched only few years back and even as they proclaim that customers will enjoy financial safety and the advantage of investing in the world’s biggest stock markets, it is still advisable that you extensively research about them before making a choice.

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