Investing in the stock market is a very dynamic procedure that provides stock traders with a wide range of alternatives. Apple, Google, Facebook, Amazon, Microsoft, Netflix, Samsung, and Twitter are just a few of the well-known American firms whose products and services we have all used at some point in our lives. Can we become a part of these companies by investing in their public shares, in addition to profiting from their products and services?
Remember that these aren’t Nigerian companies, thus they won’t be listed on the Nigerian Stock Exchange, but rather on the stock exchange of their home country. So, how can you purchase shares in a company that isn’t incorporated in Nigeria? We may do so with great ease thanks to modern technology, which allows us to do so immediately from our mobile phones and laptops.
Here are five (5) famous apps and services that enable you to open an online account and begin investing in global stock markets from Nigeria.
Bamboo is an online stock trading and investing platform that allows Nigerians to trade and invest in over 3,000 equities listed on the Nigerian and US stock exchanges. You can invest locally or globally, and ideally trade in both local and global enterprises, by immediately funding your & $ balance and beginning to purchase and sell shares with a minimum of $20.
Yanmo Omorogbe and Richmond Bassey started Bamboo in 2019. Its partners include DriveWealth, a digital trading technology company based in the United States; Lambeth Capital, a Nigerian stockbroking firm; and Flutterwave, a payment platform.
Trove is the first micro-investing platform in Nigeria that gives access to Nigerians to invest in publicly traded US, Nigerian, Chinese Stocks, Government Bonds, Cryptocurrencies, etc. You can become one of their global investors by trading with as little as
₦1000. With Trove, you can store your uninvested cash in your mobile wallet or withdraw it to your linked bank account anytime.
To get started, you can download their mobile app or through the web. Trove was established on July 10, 2018, by Austin Akagu, Desayo Ajisegiri, and Oluwatomi Solanke. It currently has close to 10 employees.
3. Chaka NG
Chaka is another digital investment platform. It gives you access to thousands of blue-chip firms from Nigeria, the United States, and more than 40 other important countries across the world. The company then charges an industry-low fee of N100 (0.5%) and $2 (1%), respectively, for local and global transactions.
Tosin Osibodu launched Chaka on May 1, 2019. To make stock purchases easier, it has teamed with two brokers: Citi Investment Capital and DriveWealth, both based in the United States.
eToro is one of the world’s most popular social trading platforms, allowing people and businesses to invest in stocks, cryptocurrencies, and CFDs with a variety of underlying assets. A minimum deposit of $200 is required; $50 for US investors and $50 for Australian investors.
Yoni Assia, Ronen Assia, and David Ring created eToro in 2007, with offices in London, Tel Aviv Yafo, and Limassol. Its main company, eToro Group Limited, now employs between 501 and 1000 people.
Wealth.ng is an investment company that allows people to invest in treasury bills, equities, mutual funds, and real estate using their investment app or the internet. The rate of return on your stock investment is (s): 10% – 14%.
Wealth.ng is a product of WealthTech Limited, a financial technology firm and an affiliate of Sankore Securities Limited, which is listed on the Nigerian Stock Exchange and regulated by the Nigerian Securities and Exchange Commission (SEC).
Investing in the overseas market will diversify your portfolio and broaden your investment horizon. The online platforms indicated above allow you to invest in your favorite companies without restrictions.
You can participate in the global economy by investing in the foreign stock market from Nigeria. However, keep in mind that Nigeria is currently Africa’s largest economy. We contribute to a larger and more stable Nigerian economy by investing in top-performing companies on the Nigeria Stock Exchange.