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Investing in stocks is no longer limited to finance professionals or people with large amounts of money. Today, many Nigerians are growing their wealth through stock investments using mobile apps and digital platforms. These platforms make it easy to buy and invest in stocks in Nigeria or abroad, even with small amounts.
Here are five of the best platforms to buy and invest in stocks in Nigeria. Each offers a secure way to grow your money, whether you're just starting or looking to diversify your portfolio.
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1. Trove
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Trove is one of the most popular stock investment platforms in Nigeria. It allows users to invest in both Nigerian and international stocks. With Trove, you can buy shares of companies listed on the Nigerian Stock Exchange (NGX) and U.S. companies like Google, Tesla, and Amazon.
The platform supports fractional investing, which means you don’t need to buy a full share to get started. Even with ₦1,000, you can begin investing.
Trove also includes other investment options like bonds, ETFs, and mutual funds. The app is designed for beginners with a clean interface, learning resources, and real-time market data.
Trove is registered with the Securities and Exchange Commission (SEC) in Nigeria, which adds an extra layer of trust.
Why use Trove:
Invest in both local and global stocks
Start with small amounts
Beginner-friendly interface
Offers educational support
Fees:
Commission-free trading:
Trove does not charge commissions for buying or selling US stocks, ETFs, and ADRs.Monthly Subscription:
Trove offers two subscription plans:Standard: $3 per month.
Plus: $5 per month, with additional features like analyst research reports, technical and fundamental insights, and daily trade ideas.
Transaction Fees (in some markets):
While generally commission-free, some markets may have transaction fees in addition to the monthly subscription.
2. Chaka
Chaka is a licensed investment platform that gives Nigerians access to stocks on the NGX and global exchanges. It was the first digital investment platform to receive a license from Nigeria’s SEC, making it one of the most secure platforms.
With Chaka, you can trade thousands of stocks and exchange-traded funds (ETFs) in naira or dollars. It also features a tool called SmartInvest that automatically puts your money into pre-selected dollar investment plans based on your risk level.
The Chaka app is straightforward and easy to use, making it suitable for beginners and experienced investors. It also focuses on safety and regulation, which is important for anyone who wants to invest in Nigerian stocks or international companies.
Why use Chaka:
Regulated by the SEC
Access to U.S. and Nigerian markets
Smart investment plans
Transparent fee structure
Detailed Fee Structure:
Trades under $200: $2 flat fee.
Trades between $200 and $1,000: 1% of the trade value.
Trades between $1,000 and $10,000: 0.85% of the trade value.
Trades between $10,000 and $50,000: 0.75% of the trade value.
According to Chaka and other sources, these fees are in addition to any other applicable fees charged by the US stock market or regulatory bodies.
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3. Bamboo
Bamboo focuses on giving Nigerians access to U.S. stock markets. It is widely used by people who want to save in dollars and invest in top-performing companies abroad. The platform also recently added support for trading some Nigerian stocks.
One of Bamboo’s key features is the ability to buy fractional shares. With as little as $20, you can invest in high-value stocks like Apple or Microsoft. This makes it accessible to Nigerians who want to invest in stocks but may not have large capital.
The Bamboo app has a simple layout and strong security features. It's licensed through a partnership with a U.S. broker and complies with Nigeria’s financial regulations.
Why use Bamboo:
Invest in U.S. and Nigerian stocks
Ideal for dollar-based savings
Low minimum entry
Strong data privacy and security
Fees:
Trade Commission:
Bamboo's commission for buying or selling US stocks is 1.5% of the trade amount.Minimum Charge:
Even if the 1.5% commission on a trade is less than $1, a minimum charge of $1 applies.No Holding Fees:
You won't be charged for holding stocks or having money in your Bamboo wallet.
4. Risevest
Risevest takes a different approach. Instead of picking individual stocks, you invest in professionally managed portfolios. These portfolios include U.S. stocks, real estate projects, and fixed-income investments like U.S. bonds.
This makes Risevest perfect for people who prefer a hands-off way to invest. You choose a plan, deposit money, and let the experts manage your investment.
All investments on Risevest are dollar-based, and the platform offers automated savings features. You can set up recurring deposits, and your money is automatically allocated based on your chosen plan.
For anyone interested in long-term wealth building and diversification, Risevest is a strong option.
Why use Risevest:
Curated investment portfolios
Dollar-based investments
Passive investment style
SIPC-insured U.S. assets
Fees structure breakdown:
Trade Value $0 – $200: 1.5% trade fee
Trade Value $200 – $1,000: 1% trade fee
Trade Value $1,000 – $10,000: 0.85% trade fee
Trade Value $10,000 – $50,000: 0.75% trade fee
Additionally, they charge management fees on a percentage basis of returns earned, ranging from 0.5% to 1% of the total investment and returns. The amount charged will depend on how much they manage and the returns generated.
5. Afrinvest
Afrinvest is a well-established Nigerian investment company offering a digital platform for stock trading. Unlike the others, Afrinvest focuses more on Nigerian capital markets and is better suited for users who want direct access to local stocks and bonds.
The platform provides trading tools for buying Nigerian stocks, treasury bills, and other investment products. While it may not be as flashy or beginner-focused as Trove or Bamboo, Afrinvest offers more detailed financial data and research tools.
Afrinvest is regulated by Nigeria’s SEC, which makes it a safe choice for investors who want to focus mainly on the Nigerian market.
Why use Afrinvest:
Trusted investment firm with years of experience
Strong focus on Nigerian equities
Access to government-backed securities
Ideal for intermediate and advanced investors
Fees:
Transaction Fee:
When you buy or sell US stocks through Optimus, you'll pay a 1.5% fee on the value of the trade.Foreign Exchange Spread:
Since you're investing in US stocks from Nigeria, you'll need to convert your Nigerian Naira to US Dollars. This conversion will involve a foreign exchange spread, which can range from 0.50% to 0.80% of the trade value.
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Stock investment in Nigeria has become more accessible than ever. With your smartphone and a small amount of money, you can now buy and invest in stocks locally and internationally. Whether you're interested in Nigerian stocks through Afrinvest, dollar investments through Bamboo and Risevest, or a mix of both with Trove and Chaka, there’s a platform for you.
Start by deciding what your goals are. Do you want to invest passively, save in dollars, or actively buy shares? Then, pick the platform that fits your needs, sign up, and begin your journey to financial growth.
The most important part of investing is getting started. These platforms make it easy for Nigerians to take control of their finances and build a better future.