Investing in US stocks from Nigeria

Comparing many other asset types, it may be argued that stocks offer the most growth potential. In comparison to real estate and many other fixed-income assets, they are by far more liquid and diversifiable.

Everyone wants a taste of the United States stock market since it is the largest stock market in the world. It was challenging for Nigerians and other non-U.S. citizens to purchase American equities in past times. 

The most valued stock markets in the world, the NYSE and NASDAQ, have regularly surpassed all other markets.

Before now, investing in the US stock market from Nigeria was a challenging task. To invest in the US stock market, the majority of foreign brokerages would call for at least a valid US visa. Since the minimum investment was often in thousands of dollars, investing in foreign markets was mostly restricted to high net worth individuals (HNIs).

You may now easily invest in the US stock market from a smart mobile device or computer thanks to modern technologies. What you'll require is:

·        Your bank verification number (BVN)

·        A valid international passport

·        A recent bank statement or utility bill

Some broker-dealers licensed in Nigeria and the US have backed investment tech startups in order to provide investing platforms which will enable  the average Nigerian to access and engage in domestic and international markets.

Here are a few digital investment platforms which have made it feasible to buy and sell stocks of publicly listed US companies like Apple and Google.

Trove

·        Total funding amount: $23.3K

·        Platforms: Android and iOS

·        Minimum deposit: $10, ₦1,000

·        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

Trove is a digital investing platform for both amateur and seasoned investors. Users can conduct risk analysis of the assets they own and obtain daily news on those assets. You can automatically setup the application to credit your Trove wallet on a daily, weekly, or monthly basis.

The investment app that attempts to make it simple and approachable for amateurs to find and choose investments, particularly stocks and bonds. You can discover stocks from publicly traded firms in Nigeria and the United States on Trove, along with different bonds, 10 cryptocurrency assets, and mutual funds.

From the KYC and sign-up procedures to the variety of financial assets provided by the Trove platform, all the way down to payment, buying, and selling, as well as a display of a tailored news about the stocks and assets you trade. Trove streamlines the entire microinvesting process from beginning to end.

Bamboo

·        Total funding amount: $32.6M

·        Platforms: Android and iOS

·        Minimum deposit: $10

·        Payment options: Naira card, dollar card, bank transfer, and wire transfer.

·        Investment offerings: US stock markets

Bamboo is a digital investing platform that has a lower entry threshold for people of all income levels to begin their investment journey. The app gives users access to more than 3,000 equities on the US stock market with only their bank verification number (BVN) and contact information.

Bamboo also allows users diversify their investments by purchasing an exchange-traded fund, which is a collection of equities. All of these with just your phone and no paperwork.

Chaka

·        Total funding amount: $1.5M

·        Platforms: Web, Android, iOS

·        Minimum deposit: ₦1,000

·        Payment options: Naira card, dollar card, and bank transfer.

·        Investment offerings: Nigeria stock market, US stock markets, and blue-chip companies in 40+ countries.

Chaka is an online platform that allows users to make investments in the Nigerian and US stock markets. Users have a wide range of alternatives with access to more than 40 nations globally.

The goal of the investing platform is to facilitate access to global financial markets. Users can set up trading accounts to trade on national and international stock markets, invest in mutual funds, fixed income securities, and other financial products, and manage their money and achieve their financial objectives effectively.

Risevest

·        Total amount in funding: $120K

·        Platforms: Android and iOS

·        Minimum deposit: $10

·        Investment offerings: US real estate, US stocks, and eurobonds.

Risevest claims to be the first digital investing company in Nigeria to offer diversified multinational investments. The platform is a personal asset manager and investment advisor. Rise gives customers who want to create a steady portfolio free from naira devaluations access to three different dollar-denominated assets.

Risevest links users to global wealth-generating opportunities It provides them with investment plans that do away with geographic restrictions and combine the accuracy of sophisticated algorithms with the knowledge of finance professionals, allowing investors to choose and invest money in a variety of markets that offer high-performing and long-term opportunities with ease.

In conclusion, these investment platforms have only been operational for a short while, despite the fact that they guarantee security and the chance to participate in the largest markets in the world. Users must therefore thoroughly examine them and choose based on their own preferences.