How to invest in US and other foreign stocks from Nigeria

November 14, 2019 · 3 min read
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Nigerians who want to grow their money without worrying about Naira fluctuations have to invest in dollar assets, but a look at these Quora’s search results detailing how to invest in the US stock market from Nigeria shows how complex this is.

In the past couple of years, some investment tech startups have emerged with backing from broker-dealers — registered in Nigeria and the US — to provide platforms that will allow average Nigerians access and invest in local and foreign markets.

If you are looking to buy and sell stocks in publicly-traded companies such as Apple and Google, here are some of the online investment platforms that have made it possible, in no particular order.


Trove site
  • Platforms: Android and iOS
  • Minimum capital required: ₦1,000 ($2.75)
  • 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 mobile investment application for beginners and professional investors. It allows users to access daily news about assets they hold and provide risk analysis of these assets. On the application you can credit your Trove wallet daily, weekly, or monthly by automating the setting accordingly.

There is a provision for tools that allow users benchmark when they would like to trade and while it accepts naira cards and accounts, it does not accept domiciliary accounts or dollar cards.


Bamboo site
  • Platforms: Android and iOS
  • Minimum capital required: ₦7,255.30 ($20)
  • Payment options: Naira card, dollar card, bank transfer, and wire transfer.
  • Investment offerings: US stock markets
  • Registered broker-dealer: No

The barrier of entry for individuals of any income bracket to start their investment journey, although high, is different on Bamboo. With just your bank verification number (BVN) and contact details, you can join Bamboo and have access to over 3,000 stocks in the US stock market.

Bamboo also allows users to diversify their holdings by buying into a bundle of stocks, commonly known as exchange-traded funds (ETFs). All these from your mobile phone with zero paperwork.


Chaka site
  • Platforms: Web
  • Minimum capital required: ₦3,627.45 ($10)
  • Payment options: Naira card, dollar card, and bank transfer.
  • Investment offerings: Nigeria stock market, US stock markets, and blue-chip companies in 40+ countries.
  • Registered broker-dealer: No

Chaka is a web-based platform for users looking to invest in Nigeria and the US stock markets. With access to over 40 countries worldwide, users have many options to choose from. Though Chaka does not have a mobile application, it is said to be in the works.


Rise site
  • Platforms: Android and iOS (waitlist)
  • Minimum capital required: ₦3,600 ($9.92)
  • Payment options: Not specific
  • Investment offerings: US real estate, US stocks, and eurobonds.
  • Registered broker-dealer: No

A personal asset manager and investment adviser, Rise claims to be the first digital investment platform to offer globally diversified dollar investments in Nigeria. With options in three different dollar-denominated assets, Rise makes them accessible to customers looking to build a stable portfolio free of naira devaluations.

Although these investment platforms promise security and opportunity to invest in the world’s biggest markets, they have been around for just a few years. Therefore, it is imperative for users to carefully review them and make their choice as they see fit.

Disclaimer: This information reflects what is currently displayed on the respective platforms’ websites, apps and what appears in Medium posts, and may be subject to change.


Tage Kene-Okafor


Endlessly amused by technology. @ulonnaya

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