Everyone wants a piece of the U.S. stock market because it is the biggest stock market in the world. As a Nigerian or a person who doesn’t live in the United States, it was hard to buy U.S. stocks. In order to invest in the US stock market, you must have a valid US visa or green card.
Because of new technology, you can now invest in the U.S. stock market from your smartphone or computer, making it easy to do. In this list, we show you the top Fintech startups that have made it easy for Nigerians to buy U.S stocks in Nigeria with no trouble.
When I was a Nigerian, it was hard for me to invest in the United States as a non-resident before now. If you want to invest in the US stock market from outside the country, you’ll need at least a valid visa or green card. The amount of money needed to invest in foreign markets was usually in the thousands of dollars. This meant that only people with a lot of money could invest in foreign markets.
How do I buy shares of Apple, Tesla, Dropbox, Uber, or Facebook? This question is asked a lot in investment groups and forums.
Because the NYSE and NASDAQ are the most valuable stock markets in the world, these markets have always done better than any other market. Unfortunately, they have been mostly out of reach for Nigerians and Africans in general until now.
Invest in US & Foreign stocks from Nigeria with Online Stock Trading Apps
In order to invest in foreign stocks from Nigeria, the best way is to use a group of online platforms. These platforms make it easy to open a trading account, buy stocks, and keep an eye on your portfolio. All from your phone.
There are a lot of good places to invest in foreign stocks in Nigeria, which are
1 Trove
People in Nigeria can use Trove to buy stocks in other countries. With the Trove app, you can buy stocks from the U.S., China, and Nigeria, and you can also buy them. Trove also lets you buy bonds, ETFs, and more with as little as 1,000.
The company wants to spread the idea of small investments. The idea is that anyone can become rich by investing small amounts of money every day. Because you don’t want to spend a lot of money all at once.
Tools that can help you become a smart investor are available through Trove, and you can use them to help you. You can also choose to move your money from Trove to another brokerage. But, you’ll have to close your Trove account to do this.
- Platforms: Android and iOS
- Minimum capital required: ₦1,000 ($2.75)
- Payment options: Naira card and bank transfer
- Investment offerings: Chinese stock markets, Nigerian stock market, US stock markets, and government bonds.
- Registered broker-dealer: No
2 Bamboo
Nigerians can invest in more than 3500 American and Nigerian stocks with “Bamboo” or “Invest Bamboo.” This means that any Nigerian can invest in stocks on both the American stock exchange and the Nigerian stock exchange.
They can buy and sell stocks on these exchanges right from their phones or computers.
Bamboo wants to help Nigerians grow their own money by giving them the chance to invest in foreign stocks from Nigeria, which will help them earn more money.
- Platforms: Android and iOS
- Minimum capital required: ₦7,255.30 ($20)
- Payment options: Naira card, dollar card, bank transfer, and wire transfer.
- Investment offerings: US stock markets
- Registered broker-dealer: No
3 Chaka
Chaka calls itself the Investment passport for Nigerians. With the Chaka platform, you can buy and sell stocks in other countries. It lets anyone in Nigeria buy and sell stocks from the US, Nigeria, and China from any device.
If you want to trade shares with Chaka, you can start with just $10 or N1000. Chaka, like the other companies on this list, wants to give Africans the chance to trade and invest in foreign stocks.
- Platforms: Web
- Minimum capital required: ₦3,627.45 ($10)
- Payment options: Naira card, dollar card, and bank transfer.
- Investment offerings: Nigeria stock market, US stock markets, and blue-chip companies in 40+ countries.
- Registered broker-dealer: No
4 Rise vest
Any Nigerian can start investing in dollar-denominated opportunities with just $10. Risevest lets anyone do this. Using their phone. A Eurobond is a type of bond that is issued by a European country. It has a fixed interest rate and is used to buy and sell real estate.
Rise adds stocks that are undervalued and have a lot of potential to its stock index after a lot of careful thought. While also keeping an eye on the growth of the companies in the portfolio.
Rise is one of the best ways to invest in foreign stocks from Nigeria because it has a history of making about 14% a year on investments in US stocks. However, the market affects how much money you make.
- Platforms: Android and iOS (waitlist)
- Minimum capital required: ₦3,600 ($9.92)
- Payment options: Not specific
- Investment offerings: US real estate, US stocks, and eurobonds.
- Registered broker-dealer: No
Location Isn’t a Barrier
These apps remove the barriers that kept Nigerians from trading U.S. stocks because of their location and distance. Make sure you don’t go all out when you buy U.S. stocks in Nigeria before you do anything else. It’s a good idea to try out your favorite app with a small amount of money that you can lose.
