This is a detailed guide on how to invest in US stock market from Nigeria.
Do you know you can invest in the biggest stock market in the world from Nigeria?
I’m not saying Nigeria has the biggest market stock.
But as a Nigeria residing in your home country, you can invest in the United States stock market very safely.
There are several stocks in the United States that you can invest in albeit being a Nigerian citizen, but you ought to know how to.
In this post, You will learn how you can buy foreign stocks from Nigeria.
More specifically, I will show you how to invest in US stock market from Nigeria.
Can I Invest In US Stock Market From Nigeria?
You might want to ask if Nigerians can trade US stocks or if you can invest in the American stocks from Nigeria.
The simplest answer to this is yes.
You can safely invest in American stocks from Africa and anywhere in the world.
Although the United States investment policies are guided by the US laws, the investment opportunity of the country is not citizenship-based.
You don’t have to be a citizen of the United States to invest in US stocks.
Why Invest In US Stock?
Investing in a foreign stock from Nigeria used to be difficult and resources consuming.
But things have changed, and the online platform has opened the door wide open for Nigerians to invest in foreign stock more easily.
The main benefits of investing in the US stock however are listed as follows:
- It aids you to earn passively through the dividend on the stock
- You will have a diversification of an investment portfolio
- You will become an international stakeholder in a United States company.
The New Technology To Invest In Foreign Stocks
The advent of technology has done many good things in our world, and one of the many things is the opportunity to own stocks in foreign countries far easily
In the days of old, the difficulty in investing in foreign countries like the United States is so much to discourage the multitude.
During these times, you will rather see only the elites investing in international stocks.
However, I’m glad to bring you the good news that things have shifted and with the right use of technology, you can invest in an international stock market.
This you can achieve using online trading platforms that I shall discuss hereafter.
How To Invest In US Stock Market From Nigeria.
I have mentioned that you can invest in US stock market from Nigeria by using online trading platforms.
There are several platforms (apps and websites) that have opened the door of global stock investment, and I will be sharing how to take the advantage of these platforms.
1. Trove App
Trove is one of the applications that can be used to invest in US stock market from Nigeria.
It can be used to invest in the US stock from Nigeria, and it also allows investment in other foreign stocks like Chinese stocks and Nigerian stocks.
Trove also allows you to invest in bonds and ETFs.
This platform offers investment opportunities with ease to investors. They promote the idea of investing little sums of money regularly to build wealth.
If you are just starting out in stock investment, the stock is a platform made just for you because you can start with small and grow to build your wealth.
Trove application is available for both Android and iOS devices and can be downloaded from respectively app stores.
Requirements To Invest With Trove App
- A minimum capital of ₦1,000
- A verified email address
- A verified phone number
- Your bank account details
- A valid Government Issued ID
- A utility bill
Advantages Of Investing With Trove App
- Trove allows you to invest as low as ₦1,000.
- The holding period on the investment is determined by the investor.
- Trove allows Mastercard, VISA, and Verve as payment options.
- You can also pay with a bank transfer.
- Investors can track their ROI through the app.
- Trove guarantees security over your information and also your investment.
- Trove has a strong partnership with companies that makes their business run smoothly.
- DriveWealth LLC is one of the partners, and they hold every US trading accounts.
- Sigma Securities is another partner that holds every Nigerian trading account.
- The third partner is ARM Investment Managers which is a licensed Asset manager in Lagos, Nigeria. This third firm serves as the Investment Manager for all Portfolios.
2. Bamboo
Bamboo is another platform that allows you to invest in US stock market from Nigeria.
Just like Trove, it requires the use of the internet.
The bamboo app is also available for both Android and iOS devices and can be downloaded from respective app stores.
Bamboo gives room for Nigerians to invest in over three thousand stocks.
It offers investment opportunities in American stock and Nigerian stock exchanges.
Requirements To Invest With Bamboo App
Now are the basic requirements to invest in US Stock from Nigeria with Bamboo app.
- A minimum capital of $20
- A verified email address
- A verified phone number
- Your bank account details
- A valid Government Issued ID
- A utility bill
Advantages Of Investing With Bamboo App
- Bamboo application takes payment options of Mastercard, VISA, and Verve cards issued by Nigerian Banks.
- It also takes bank transfer as a payment option.
- The holding period is determined by the investor.
- Your Return On Investment (ROI) can be monitored effectively.
- Withdrawal from the app takes between 1-3 days.
- Investments are secured because the app uses state-of-the-art bank-level security, data encryption, and two-factor authentication (2FA) to protect every account.
Also See: How To Start A Business In USA From Nigeria
3. Rise
Rise is another app to invest in the US stocks from Nigeria, and it, of course, works via the internet medium.
Rise was known as Cashestate before it took its new name.
It has been found out to be one of the best mediums of investing in US stocks from Nigeria and Africa at large.
From research, the annual Return Of Invest (ROI) on US stocks via Rise app is about 14%.
Requirements To Invest With Rise App
Now are the basic requirements to invest with Rise.
- A minimum capital of ₦3,600
- A verified email address
- A verified phone number
- Your bank account details
- A valid Government Issued ID
- A utility bill
Advantages Of Investing With Rise App
- Rise accepts Mastercard, VISA, and Verve cards payment options.
- It also takes bank transfers.
- You can safely monitor your investment.
- Withdrawal is within a day.
- Security is guaranteed
4. Chaka
Chaka is another platform to invest in US stocks from Nigeria.
It supports the trading of US stocks, Chinese stocks, and Nigerian stocks.
It is a very safe platform with an assuring Return On Investment.
Requirements To Invest in US stocks With Chaka
Below are the basic requirements needed to invest in US stocks with Chaka.
- A minimum capital of $10
- A verified email address
- A verified phone number
- Your bank account details
- A valid Government Issued ID
- A utility bill
Advantages Of Using Chaka
- It accepts credit cards payment options (Mastercard, VISA, and Verve)
- It is available for Android and on the web.
- It also accepts bank transfers.
- The holding period is determined by you, and you can easily track your ROI.
- Withdrawal from your available cash is processed within 12hours, while withdrawal from stocks may take about 3 days.
- Chaka accounts are securely protected by bank-grade AES encryption software.
Note that the required documents on all the platforms should be in soft copies since you are transacting online.
That is all on How To Invest In the US Stock Market From Nigeria.
Hope this was helpful?
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