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|Here’s How To Invest In US Stocks From Nigeria by prof2007: 6:21am On Aug 16, 2019|
The US stock market is the biggest in the world, accounting for over 50% of global stock market value. The combined market capitalization of the NYSE (New York Stock Exchange) and NASDAQ is currently about $40.2 trillion. For comparison, the Nigerian stock market has a total market cap of $38.3 billion.
This article will serve as a guide to get you started in investing in the US Stock Market.
WHAT YOU WILL NEED:
Your Bank Verification Number (BVN)
Your Valid international passport
A recent Utility Bill or Bank Statement
HOW TO GET STARTED
Download the Trove Android or iOS App from the Play store or App Store, respectively.
CURIOUS ABOUT WHAT TROVE IS?
Trove is a digital investing platform that lets you invest in stocks, bonds, exchange-traded funds (ETFs) and other securities directly from your smartphone.
HOW SECURE IS TROVE?
Trove ensures your personal information is secure by its use of 256-bit encryption & that your personal data is stored using cutting edge technology.
Trove’s partner, DriveWealth LLC, a self-clearing broker in the US is a regulated member of FINRA/SIPC and holds all the US trading accounts on Trove. It also protects securities holdings of its members of up to $500,000 (including $250,000 for claims for cash). Trove’s other partner, Sigma Securities Limited, a broker-dealer regulated by the NSE (Nigerian Stock Exchange) & Securities and Exchange Commission, holds all Nigerian trading accounts.
PRODUCT FEATURES OF TROVE:
Platforms: Android & iOS
Minimum Account Opening Balance: $10
Required Documentation: International Passport and a Utility Bill or Bank Statement. The documents will be an image not an actual physical copy.
Some basic information like (Verified Email Address, Verified Phone Number, Bank Account Information).
Payment Options: Mastercard, VISA and Verve cards issued by Nigerian Banks. You can also fund your wallet via a Bank Transfer.
Holding period: As long as you like.
Security: Bank Grade Encryption
Investment monitoring: You can track returns on investments purchased through the Trove app.
You can withdraw uninvested cash in your wallet. You would however have to wait for 3 business days in the case of Dollar denominated withdrawals. If you’re withdrawing more than your invested cash, you’ll need to sell some of your purchased assets. Sell orders take get executed in real time. You can either choose to deposit the funds into your wallet or bank account.
WHY YOU SHOULD INVEST WITH TROVE?
Low Minimum: Compared to other investment platforms that have high minimums, Trove allows you buy stocks of US companies with as little as $10.
Fractional Shares: Trove lets you buy fractional shares in companies like Apple, Google, Facebook, etc. With fractional shares, rather than buy a full share which can cost hundreds of dollars, you can buy a fraction of a share.
ABOUT TROVE TECHNOLOGIES LIMITED
Trove Technologies Limited built and wholly owns Trove, a technology platform that allows Africans to invest in financial securities locally, within the continent, and internationally, outside the African continent. Trove also provides APIs and tools to broker-dealers and fund managers in order to provide access to global markets. Trove neither offers its own recommendations on any security nor provides its own research to any user per any security transaction and/or order. Trove is a technology platform, not a registered broker-dealer or investment advisor.
For more information, please visit https://troveapp.co
You can also follow Trove on Twitter @trovefinance, Instagram @trovefinance and on Medium @trovefinance
SOURCE (abridged): https://nairametrics.com/2019/07/08/heres-how-to-invest-in-us-stocks-from-nigeria/
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|Re: Here’s How To Invest In US Stocks From Nigeria by Toluway: 1:43am On Dec 29, 2019|
Thank you for for your insightful information. I opened an account in Trove yesterday. I guess not all the stocks listed in the platform are American stocks. What is your position about this?
|Re: Here’s How To Invest In US Stocks From Nigeria by softworldsystem(m): 8:11pm On Dec 31, 2019|
I dont hav intl passport, can i stil open an account
|Re: Here’s How To Invest In US Stocks From Nigeria by Ifiegboria(m): 8:48pm On Dec 31, 2019|
I will see how this goes. Thanks for the information
|Re: Here’s How To Invest In US Stocks From Nigeria by Oyindamolah: 2:01pm On Mar 09|
Excellent! In case you wish to sign up with them please use my signature, we both get FREE shares.
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