Chaka investment app review (Is Chaka app legit?)
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Chaka investment app review (Is Chaka app legit?)
Read all about the Chaka investment app.
In the past, buying stocks from foreign companies in the United states of America and China, was next to impossible, as it required an international broker, who usually charged a very high fee. To summarize, it was less than convenient.
These days, with the advent of stock investment apps, one is no longer limited by geographical location. You can now easily buy stocks from the comfort of your home, with the use of your smartphone.
Read my Bamboo investment app review
What are stocks?
A stock is a security that represents the ownership of a fraction of a corporation. This entitles the owner of the stock to a proportion of the corporation’s assets and profits equal to how much stock they own.
Investing in stocks offers you some benefits like “earning on income through diversification”, “diversification of an investment portfolio” and “becoming a stake holder in foreign and global companies”.
In this Chaka investment app review, I am going to be writing about all you will need to know about Chaka app.
Remember to leave us a comment after you finish reading and also share with your friends on social media.
What is Chaka?
Chaka Technologies Limited, a company registered with the Corporate Affairs Commission, owns Chaka. Local authorities in Nigeria, as well as international authorities, regulate the company.
Chaka is governed by the Nigerian Central Securities Clearing System (CSCS) and the Securities and Exchange Commission (SEC). Citi Investment Capital Limited facilitates all local brokerage investments. A Nigerian stockbroking firm that is licensed and registered with the Securities and Exchange Commission (SEC).
Chaka is a technology solutions company on a mission to provide borderless digital investment and wealth management opportunities to every business and person in Africa.
Their team combines investment expertise with best-in-class technology to deliver dependable digital investing, trading, and wealth management solutions that are simple to use and integrate.
All global brokerage investments on this platform are made available by Citi Asset Management Ltd. in collaboration with a licensed US brokerage firm regulated by the US Financial Industry Regulatory Authority (FINRA) and the US Securities and Exchange Commission (SEC). Dollar funds and assets held on Chaka are insured up to $500,000 by the US Securities Investor Protection Corporation (SIPC).
How to start investing with chaka?
To get started with Chaka, you must first create an account via the website or the Android app. You can also open an account by emailing them at register@chaka.ng or calling them. You can reach them by phone at +2347011204586.
If you have your information ready, it takes about 3 minutes to set up an account on this platform. You will need to have your BVN number, national identification, and a proof of address document ready. The remaining information will be basic questions to which you will have an answer.
You will be assigned a CSCS number once you open an account. The Nigerian Capital Market’s Clearing and Settlement House is CSCS (Central Securities Clearing System). They are in charge of the Nigerian Stock Exchange.
Chaka does not charge any fees for account opening, account maintenance, wire transfers, or foreign exchange fees.
Only when a user executes a trade does the company charge a fee. In addition, the user must pay mandatory regulatory fees levied by Nigerian and other market regulators.
Every Chaka account comes with two wallets. A wallet that is both global and local. The global wallet is for trading foreign stocks, while the local wallet is for trading domestic stocks. Your dividends are also deposited directly into their accounts.
Chaka features
Their regulator is safe and secure
Chaka is Nigeria’s first and only digital investment platform that has been licensed by the Securities and Exchange Commission (SEC).
Local assets are listed on the Nigerian Stock Exchange (NSE), cleared through the Central Securities Clearing System (CSCS), and governed by the Securities Exchange Commission of Nigeria (SEC). The US FINRA and the US SEC regulate dollar assets. SIPC insures dollar deposits up to $500,000.
Instant dollar funding
Trade and invest in leading companies and countries with any amount of money, regardless of share price. Trade assets worth more than $4,000.
Free deposits and withdrawals
Find out how to invest wisely. With free deposits and withdrawals, you can keep more of your money. Transfer funds in real-time from your local wallet to your global wallet and vice versa.
Earn dollar returns
Dividends can be earned from your investments. Keep your uninvested cash in your global wallet and begin earning dollar returns.
24/7 Customer support
They are always happy to help, whether you’ve been using them for a while or are just getting started. On chaka.com, you can get live chat customer service 24 hours a day, 7 days a week.
Do you need to speak with a live person? You can contact them at +23407011204586.
World class investing experience
Enjoy an easy-to-use app with navigation designed to help you navigate the ups and downs of investing. Download the Chaka app today and join thousands of Nigerians who are earning, building, and growing generational wealth in USD and Naira.
Really fast withdrawals
Do you need to sell a stock quickly and withdraw your funds? Withdrawals from your Chaka wallet are credited to your bank account within 48 hours.
Is Chaka app legit?
Yes, the Chaka app is safe and legit. Chaka is Nigeria’s first and only digital investment platform that has been licensed by the Securities and Exchange Commission (SEC).
Local assets are listed on the Nigerian Stock Exchange (NSE), cleared through the Central Securities Clearing System (CSCS), and governed by the Securities Exchange Commission of Nigeria (SEC). The US FINRA and the US SEC regulate dollar assets. SIPC insures dollar deposits up to $500,000.
FAQs
How can you fund your wallet?
Chaka’s funding procedure is straightforward and quick.
They accept all major credit cards, including Visa, Mastercard, and Verve. You can also use your Naira or Dollar card to deposit money directly into your Chaka Dollar wallet.
How long does it take to withdraw your funds?
Withdrawal of available funds in your account may take up to one business day from the time your request is made
How secure is your brokerage account?
Your brokerage account is safeguarded by bank-grade AES encryption software, which safeguards communication between your device and our servers.
They review their security practices on a regular basis to ensure your safety and security.
Is your account insured?
The Securities Investor Protection Council (SIPC) insures your global dollar brokerage account up to $500,000 in total value and $250,000 in cash.
Summary
Chaka allows local investors to explore international markets and diversify their portfolios by investing in African and global capital markets.
This is in contrast to existing investment platforms such as PiggyVest and CrowryWise, which are primarily saving platforms with investment options on your savings on their platform.
Let us know in the comment about your experience investing with chaka and thank you for reading my Chaka investment app review, or if you’re just getting started and you need any help, you can also comment what you need help with.
Visit https://chaka.ng
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The minimum capital in naira to invest on chaka company