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10 Best Apps to Help You Invest in the US Stock Market From Nigeria

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Previously, as a Nigerian, you would need a minimum of a valid US visa or a green card to engage in the US stock market. However, thanks to modern technology, you may now invest in the US stock market from your smartphone or computer. Here are the top ten apps that have contributed to this miracle.

Passfolio App

 This San Francisco Fintech company app helps people from more than 170 countries invest in the US stock market, dollar ETFs, and so on, using their local currency and transfer methods. It offers access to US investment, commission-free stock trades, trade flexibility, real-time stock prices, local deposit methods, and other interesting offers. With the Passfolio App, you can get started with as little as $1. It is secured with password protection using the Bcrypt hashing algorithm; secure encryption of private and sensitive information, apps, websites, and servers using the Transport Layer Security (TLS) protocol; multi-factor authentication support, such as TouchID, FaceID, and a custom pin for unlocking; and Two Factor Authentication (2FA).

Trove

 With a minimum of $10, investments in stocks, bonds, exchange-traded funds (ETFs), and other securities can be made through the Trove app with the help of a mobile phone. Payments are processed through bank transfers or the use of debit cards such as VISA, MasterCard, and Verve cards issued by Nigerian banks. With the app, you can track the returns on your purchased investments. You will be charged 1.5% and 100 naira for transactions that are over 2,500.

Rise

Rise app allows you to invest in a portfolio of 30 high-growth stocks in the US. It grants you access to stocks from top companies like Google, Alibaba, Facebook, Google, etc. Rise gives out 12–14% returns per annum. It has four classes of assets, which are: US real estate, stocks, technology companies, and Eurobonds, with a minimum of $10. Just like the Trove app, payments are processed through bank transfer or the use of debit cards such as VISA, MasterCard, and Verve cards issued by Nigerian banks.

Bamboo 

Bamboo is an investment platform that grants Nigerians access to about 3,000 stocks listed on both the Nigerian Stock Exchange and the United States Stock Exchange, all through a mobile phone. If you have always wanted to buy shares from top companies like Nike, Apple, Facebook, Twitter, Tesla, Amazon, etc. all you need to do is download the Bamboo app, sign up and then fund your account with a minimum of $20. Payments are also processed through bank transfer or the use of debit cards. The Bamboo app further allows you to track the returns on your purchased investments. Bamboo App uses cutting-edge data encryption to protect personal and financial information, as well as two-factor authentication (2FA) for added security, and charges only a 1.5% commission when trading the US stock market.

Chaka

Just like Bamboo, the signup process in Chaka is quite easy, and it is now available on the Android app. Chaka provides more than 40 stocks from top companies in the US, and a minimum of $10 is required for investment. Required documents may include photos of a government-issued ID and a utility bill, bank verification number (BVN), bank account information, verified email address, and verified phone number. Payments are processed through bank transfers or the use of debit cards such as VISA, MasterCard, and Verve cards issued by Nigerian banks. 

ARMstockTrade

This is a stock-trading platform that provides round-the-clock access to great tools, a robust body of research, as well as up-to-date market analysis. It aims to empower you to make informed investment decisions while you invest and make money on your own. It is advantageous in offering periodic promotions, robust research materials, competitive pricing, and a mobile friendly trading platform, so it’s perfect for trading anywhere and anytime. You can get started with a minimum of N50, 000 and they charge a brokerage fee of 1.0% for buying and selling

Afrinvestor

It has different types of brokerage accounts, each of which has its own features and targeted audience. They are the Afrinvest Groove Account, the Afrinvest Pop Account, and the Afrinvest Classic Account. One advantage of this platform is that there is no minimum set for opening investment. Their brokerage commission is on the high side. It is Android and iOS friendly with a zero(0) minimum amount for investment and a brokerage fee of 1.35% for buying and selling.

LeadTrader

A Nigerian stockbroking platform with some level of cost-effectiveness. They charge a brokerage fee of 0.75% for buying and selling. Compared to other local companies, this is low. However, contracting them to buy and sell for you attracts a charge of 1.35. Photos of a government-issued ID and a utility bill, bank verification number (BVN), bank account information, a verified email address, and a verified phone number are required for registration with the app. 

Investnow.ng

Investnow will provide you with free research and some stock recommendations on a weekly basis to guide your choices, assuming you are a newbie. Registration is done online and they provide services like dividend management, share transfer, and handling of issues that are related to registrars as well as share certificate management. It is available on Android platforms and demands a fee of 1.35% for buying and selling

Meritrade

The Meritrade app is at the high end when it comes to the minimum amount required for trading. Meritrade is owned by Meristem Stockbrokers Limited (MSBL), which is a registered member of the Nigerian Stock Exchange (NSE). The company is licensed by the SEC. Meritrade offers stock recommendations, live markets and also has good customer support. It’s also available on Android and iOS and charges a brokerage fee of 1.35% for buying and selling.

In conclusion, investing in the US stock market from Nigeria is now made easy. It is a click away, with apps like Trove, Rise, Chaka, Meritrade, Leadtrader, investnow.ng, Passfolio, Afrinvestor, Bamboo, and Armstocktrade.

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