Foreign stock in companies based in countries other than your own can help diversify your portfolios, hedge against risk, and tap into growth in economies other than your own.
Do you want to invest in international stocks from Nigeria? Then there are a couple of options, you can open a brokerage account with either an online broker or a local brokerage firm.
These options, though, can be challenging because of the paperwork necessary and the rules governing money transfers. Fortunately, there are several options, which we’ll refer to as online investment platforms, that eliminate the burden of opening a brokerage account.
You may invest in overseas stocks from Nigeria using these online investment platforms, stocks in the United States, China, and Nigeria, government bonds, US ETFs, especially the US real estate market are examples.
See also: How To Open A Payoneer Account In Nigeria
Why Invest In Foreign Stocks From Nigeria?
Foreign stocks have demonstrated to have the greatest growth potential.
The five best-performing stocks in the United States in 2021 are listed below:
1. AMC Entertainment Holdings is a huge entertainment shop chain, it delivered a return on investment of 1,747.2%.
2. GameStop is a gaming store, it delivered a return on investment of 1,035.4%.
3. Avis Budget Group Inc. is a car rental firm, it delivered a return on investment of 724.9%.
4. Lucid Group Inc. is an electric vehicle manufacturer based in the United States, it delivered a return on investment of 423.9%.
5. Upstart is a FinTech startup that provides consumer loans, it delivered a return on investment of 384.3%.
See also: Top 6 Trustee Companies In Nigeria 2022
Financial investing prospects are no longer limited by region in today’s global environment. With a smartphone, anybody in the world can participate in the global economy and hold financial assets in any country, there is no requirement to be a citizen of the country.
As a Nigerian, there are three major advantages you obtain when you invest in foreign stocks, they are listed below:
1. Earning an income through dividends
2. Diversification of an investment portfolio
3. Participation in international and global businesses.
See also: How To Send & Receive Money With Paypal In Nigeria
How To Invest In Foreign Stocks From Nigeria With Online Stock Trading Apps
A variety of online investment platforms is the greatest approach to investing in foreign companies from Nigeria. These systems make it simple to open a trading account, buy stocks, and keep track of your portfolio. All from the convenience of your smartphone.
In Nigeria, the main investing platforms for foreign stock investments are listed below:
Trove
Trove is an app that allows anyone in Nigeria to invest in foreign stocks. The Trove app allows you to invest in stocks from the United States, China, and Nigeria. With Trove, you can invest in bonds, ETFs, and more for as little as ₦1,000.
The Trove app is available on the Play Store for Android users and App Store for iOS users.
See also: Best Loan Apps In Nigeria 2022
Bamboo
Bamboo gives unrestricted access to over 3,000 stocks listed on the United States Stock Exchange, all from the convenience of your phone or computer.
Nigerians can use their mobile phones or laptops to buy, hold, and sell stocks on these markets.
Bamboo’s mission is to help Nigerians increase their wealth by allowing them to invest in overseas stocks from the country.
The Bamboo app is available on the Play Store for Android users and App Store for iOS users.
See also: How To Check Stanbic IBTC Bank Account Balance
Rise vest
Rise vest is a mobile app that allows any Nigerian to invest as little as $10 in dollar-denominated opportunities.
Depending on your risk tolerance, Rise vest allows you to choose between stocks, US real estate, and fixed income. You can spread your risk and access several investments all in one spot this way.
The Rise vest app is also available on the Play Store for Android users and App Store for iOS users.
See also: How To Change My Fidelity Bank Phone Number
Chaka
Chaka bills itself as the Nigerian Investment Passport, it offers Nigerians access to top-performing dollar portfolios as well as wealth management services.
You can start trading shares with Chaka for as little as $10 or N1000.
Chaka, like the other online investing organizations on this list, strives to provide Africans with access to foreign stock trading and investment.
The Chaka app is also available on the Play Store for Android users and the web for everyone.
See also: How To Check Access Bank Account Balance
Originally posted on February 19, 2022 @ 11:04 am
4 thoughts on “How To Invest In Foreign Stocks From Nigeria”