Trove Investing
Investing in the US Stock market is a profitable
investment since it is the largest stock market in the world with more
than 50% of the value of the global stock market concentrated in the US.
Currently, the NYSE (New York Stock Exchange) and NASDAQ have a combined market
value of around $40.2 trillion. Comparatively, the market value of the Nigerian
stock market is $38.3 billion.
It was challenging for Nigerians and other non-U.S.
citizens to purchase American equities in the past. To invest in the US stock
market, as a non-citizen, you must have a valid US visa or green card at
the very least. But thanks to modern technologies, you can now invest in the US
market from Nigeria, using a smartphone or computer.
Comparing many other asset types, it may be argued
that equities offer the most growth potential. In comparison to real estate and
many other fixed-income assets, they are also significantly liquid and
diversifiable.
What
is Trove?
Trove is the number one US stock digital investing
platform in Nigeria. It is an investment app that tries to make
investing simple and accessible for newbies to find and choose assets,
particularly stocks and bonds. You can access stocks from publicly traded
companies in Nigeria and the United States on Trove, along with different
bonds, cryptocurrency assets, and mutual funds. Trove simplifies the whole
microinvesting process from beginning to end.
With as little as N1000 or $10, you can invest in
stocks, bonds, exchange-traded funds (ETFs), and other assets from the United
States, China, and Nigeria using Trove.
Trove
Investment Partners
Trove uses cutting-edge technology to store
client's personal data and 256-bit encryption to ensure data security.
All US trading accounts on Trove are held by
DriveWealth LLC, a self-clearing broker registered with FINRA/SIPC and a
partner of Trove. Additionally, it secures up to $500,000 worth of
securities holdings (with an additional $250,000 for cash claims).
All Nigerian trading accounts are held by Trove's
additional partner, Sigma Securities Limited, a broker-dealer governed by the
Securities and Exchange Commission and NSE (Nigerian Stock Exchange).
Benefits
of investing in Trove
Low Minimums:
Trove allows you to purchase US company stocks for as little as $10, in contrast
to other digital investment platforms that have large minimums.
Fractional
Investing: Trove offers the ability to purchase fractional
shares of businesses like Apple, Google, Facebook, and others. Instead of
purchasing a complete share, which might cost thousands of dollars, you can
purchase a portion of a share with fractional shares.
How
to start investing on Trove
1. Set
up an account.
Register
online or download the app from your preferred app store.
2. Fund
your wallet.
Use
your Verve, Mastercard, or Visa debit card, internet banking, or bank deposits
to make payments.
3. Start
Trading
You
pick whether to buy and hold or trade frequently. Trade all you want.
4. Withdraw
funds
Keep
your spare cash in your mobile wallet or withdraw it at any time to your
associated bank account.
Once your account has been set up you can use a debit
card or bank transfer, to purchase any publicly listed equity, bond, or foreign
asset as a one-time investment. Additionally, you may sell your
assets directly from the app and have the money sent into your account.
You may learn how to invest in a variety of financial assets using Trove.
Features of Trove
Platforms:
Mobile
app (iOS and Android)
Minimum
Deposit: $10 is the minimal opening balance required.
Registration
Documents: A scanned copy of your international passport and a
utility bill or bank statement are required to be submitted during registration.
Other requirements include a verified email address, active mobile number, and
local b details.
Payment
Options: Mastercard, VISA, and Verve cards are
all available as payment options. Additionally, a bank transfer can be
used to fund your wallet.
Security:
Bank-Grade Encryption
Investment
tracking: You may keep tabs on the performance of assets
acquired using the Trove app.
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