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9 Best stock trading investment apps in Nigeria
Read all about the best stock trading apps in Nigeria.
You must have been hearing about all the buzz of the new unsaturated way to make money online in Nigeria which is, stock trading. Today in this article, I am going to be listing the best stock trading apps that ensure high profitability.
But before we do that, the question, “what is stock trading?” and “who is a stock trader?” will first be tackled.
What is stock trading?
Stock trading periodically means purchasing and selling equities in order to try and time the market. Stock traders aim to profit from short-term market occurrences by selling stocks at a profit or buying stocks at a cheap price. Some stock traders are day traders, meaning they purchase and sell multiple times a day.
Who is a stock trader?
A stock trader, also known as an equity trader or a share trader, is someone who trades equity securities. An agent, hedger, arbitrageur, speculator, or stockbroker are all examples of stock traders. A stock exchange may be used to trade shares in large publicly traded corporations.
Investments are a great method to increase your income, but they can be daunting to those who don’t know what they’re doing. Fintech entrepreneurs are introducing investing solutions that encourage micro-investments, which is fantastic news.
All of these applications enable you to start trading stocks, and they make it simple for individuals who are just getting started with investing or who want to play a fun stock-picking game.
Now, enough of all my chit-chat, let’s dive straight into what you came here for!
Bamboo allows you free access to over 3,000 equities listed on the Nigerian and US stock exchanges, all from the convenience of your phone. The bamboo app has a $20 minimum trading amount. The Bamboo app also has a cool function that allows you to gift stocks to someone else.
The bamboo stock trading app is on both IOS and ANDROID play store.
This Nigerian online trading platform allows you to own companies you love from around the world, including Apple, Tesla, Amazon, Zenith Bank, and more, directly from your phone. Like Warren Buffett, you can invest in outstanding companies, earn dividends, and profit from their growth. Chaka offers daily webinars and a community to help new investors.
Chaka stock trading platform is available on the WEB as well as both IOS and ANDROID play store.
Meritrade, pioneered by Meristem securities, is a safe alternative for frequent traders (except for its high fees). The broker also provides an above-average trading interface and a mobile app that allows you to make orders from your phone.
The platform’s minimum trading balance requirement, however, may not be appealing to new investors with limited funds.
Meritrade stock trading platform is available on the WEB as well as both IOS and ANDROID play store.
Rise is a worldwide asset management that you may access from your phone. They provide a straightforward option for Nigerians to invest in dollar-denominated investments in the United States and other markets, allowing them to receive returns that make investing worthwhile. Invest in dollars with as little as $10 and ensure your long-term financial future.
The Rise app allows you to start investing in US stocks for as little as $10. Risevest is ideal for those who are just getting started with investing. Fixed Assets, Real Estate Assets, and Stock Assets are the three asset classes they offer.
Trove is a digital platform that allows Nigerians to invest in global and local financial possibilities. Stocks from the United States, China, and Nigeria, as well as government bonds, US ETFs, and more, from as little as a thousand nairas.
It doesn’t matter what you invest in. Stocks, bonds, real estate, and other financial instruments are all examples of financial instruments. The purpose of investing is straightforward: to make extra money.
Investnow.ng has one of Nigeria’s most reliable internet stock trading platforms. Newbie investors can benefit from free research and weekly stock recommendations to help them make informed decisions. You can also start and finish your registration process entirely online.
Share certificate maintenance, dividend management, share transfer, and registrar-related difficulties are among the other services provided.
The trading platform of Afrinvestor features excellent customer service, and best of all, there is no minimum initial deposit. Daily reports, stock suggestions, and extensive market analysis are also sent to you. You will also receive approximate pricing for high-quality commercial papers through email.
Afrinvest Pop Account, Afrinvest Groove Account, and Afrinvest Classic Account are three types of brokerage accounts that cater to different types of investors.
The ARMStocktrade trading platform is extremely user-friendly. It includes pricing charts and real-time data (not that other systems don’t). On completed transactions, there is a 1% brokerage fee.
A N50,000 minimum first deposit is required. Customer service is mediocre, albeit there is a live chat option for resolving concerns.
When compared to other online stock trading apps in Nigeria, one of MorganCapital i-distinctive trade’s selling points is its inexpensive brokerage fees. It claims to charge 0.50 percent in brokerage costs. Despite the fact that the brokerage cost is 0.25 percent elsewhere on the website, which is badly secured and designed. Whichever one it is, it is less expensive than most other Nigerian stockbroking organizations.
It does not provide live customer service. To ask inquiries or address concerns, you must also phone or send them a message.
Although all of the apps described above are extremely popular, Bamboo and Rise appear to be the most popular through a survey conducted by NAIRAMETRICS.
These platforms feature varied asset offerings geared to your needs, no matter what type of investor you are, and your choice will entirely be based on your risk appetite.
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