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Buying US Stocks From Nigeria - Investment - Nairaland

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My Stock Plays in US Stocks Market / Us Stocks Pick Alert / Here’s How To Invest In US Stocks From Nigeria (2) (3) (4)

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Buying US Stocks From Nigeria by gamaliel9: 11:01am On Nov 09, 2019
Can Nigerians buy US STOCKS from Nigeria?Possibly yes... I heard about Chaka and decided to check on them....registration was difficult....i could not input my password.. Then somebody mentioned Trove...but you have to register with your international passport....i also saw an advert of Bamboo Investment App...all these are fintechs that try to bring global stocks to Nigerian residents...From my research,THEY WORK WITH STOCK BROKERS IN THE US AND YOU CAN BUY ANY STOCK YOU WANT, NOT SELECTED STOCKS.

Again, my interest in US stocks is that the market is very developed and efficient... can you believe that there are stocks that pay MONTHLY DIVIDENDS? Even QUARTERLY DIVIDEND....those stocks are sure salaries....they pay up to 90%,80% of the profits because they are exempted from paying certain type of taxes,so they must pay the dividend...This is done mostly by companies in property management and REITs,utility[electricity companies],pipeline companies etc...

Is this not better than what we have here?
What are the demerits of investing in US stocks from Nigeria? Are there problems with that? What do you think?

7 Likes 1 Share

Re: Buying US Stocks From Nigeria by midolian(m): 7:14pm On Nov 10, 2019
gamaliel9:
Can Nigerians buy US STOCKS from Nigeria?Possibly yes... I heard about Chaka and decided to check on them....registration was difficult....i could not input my password.. Then somebody mentioned Trove...but you have to register with your international passport....i also saw an advert of Bamboo Investment App...all these are fintechs that try to bring global stocks to Nigerian residents...From my research,THEY WORK WITH STOCK BROKERS IN THE US AND YOU CAN BUY ANY STOCK YOU WANT, NOT SELECTED STOCKS.

Again, my interest in US stocks is that the market is very developed and efficient... can you believe that there are stocks that pay MONTHLY DIVIDENDS? Even QUARTERLY DIVIDEND....those stocks are sure salaries....they pay up to 90%,80% of the profits because they are exempted from paying certain type of taxes,so they must pay the dividend...This is done mostly by companies in property management and REITs,utility[electricity companies],pipeline companies etc...

Is this not better than what we have here?
What are the demerits of investing in US stocks from Nigeria? Are there problems with that? What do you think?
Thank you for this post..

Saw something on bamboo too but I don't trust them yet, even though they are rated 4.9 star on trust pilot(it could be bought)..

Downloaded the app and within a few minutes after installation, the thing is requesting for my BVN. Na there I stop...

Experts in the house, please tell us what you know about this.

lalasticlala, Seun please help.

4 Likes

Re: Buying US Stocks From Nigeria by emmalated(m): 5:58pm On Nov 12, 2019
smiley
@midolian,
I had same instinct to stop registration the moment it requested for my BVN.
Pls anyone with more legit info about this?
Re: Buying US Stocks From Nigeria by midolian(m): 7:47pm On Nov 12, 2019
emmalated:
smiley
@midolian,
I had same instinct to stop registration the moment it requested for my BVN.
Pls anyone with more legit info about this?
As much as I have interest in it, I can't risk giving my BVN to any one
Re: Buying US Stocks From Nigeria by J2381: 7:48pm On Nov 12, 2019
midolian:
As much as I have interest in it, I can't risk giving my BVN to any one
a wise decision.

2 Likes 1 Share

Re: Buying US Stocks From Nigeria by gamaliel9: 10:06pm On Nov 13, 2019
BVN is in all transactions these days...you cannot run away from it in any transaction involving your bank


No one can withdraw money from your account with your bvn only

20 Likes 2 Shares

Re: Buying US Stocks From Nigeria by emmalated(m): 11:25pm On Nov 13, 2019
You're right Bro.
However giving out BVN on social media or just any platform should be with caution.

4 Likes 1 Share

Re: Buying US Stocks From Nigeria by hustla(m): 11:42am On Nov 15, 2019
Took me about 4 months before I could give Piggy vest my BVN
But I believe the BVN is just to prevent mass registration of fake accounts

5 Likes

Re: Buying US Stocks From Nigeria by gamaliel9: 3:32pm On Nov 16, 2019
BVN.. wink...fear of losing money may make you not to make money....

6 Likes

Re: Buying US Stocks From Nigeria by gamaliel9: 7:34pm On Nov 16, 2019
PLEASE I NEED ANSWERS TO MY INITIAL QUESTION....What is advantage of investing in stocks in US WITH 4% dividend yield or more? or US ETFs?
Is it better to invest in Nigeria stock in stocks that has 8 or 9% diddend yields? The US dividend will come in dollars while the Nigerian one will be in naira....The US dividend will be monthly too not yearly as in Nigeria
Re: Buying US Stocks From Nigeria by gamaliel9: 9:27pm On Nov 22, 2019
Any objections please?
Re: Buying US Stocks From Nigeria by Adanielo: 11:42am On Jan 01, 2020
gamaliel9:
Can Nigerians buy US STOCKS from Nigeria?Possibly yes... I heard about Chaka and decided to check on them....registration was difficult....i could not input my password.. Then somebody mentioned Trove...but you have to register with your international passport....i also saw an advert of Bamboo Investment App...all these are fintechs that try to bring global stocks to Nigerian residents...From my research,THEY WORK WITH STOCK BROKERS IN THE US AND YOU CAN BUY ANY STOCK YOU WANT, NOT SELECTED STOCKS.

Again, my interest in US stocks is that the market is very developed and efficient... can you believe that there are stocks that pay MONTHLY DIVIDENDS? Even QUARTERLY DIVIDEND....those stocks are sure salaries....they pay up to 90%,80% of the profits because they are exempted from paying certain type of taxes,so they must pay the dividend...This is done mostly by companies in property management and REITs,utility[electricity companies],pipeline companies etc...

Is this not better than what we have here?
What are the demerits of investing in US stocks from Nigeria? Are there problems with that? What do you think?


Hi gamaliel,

You can follow me on twitter @danieladaise
Ask me more questions over there, if you have more.
I am a full time value investor and I have been investing for over 6 years now both foriegn and locally.

Okay let me try to answer.

No, there are no real demerits in participating in foreign investments.

Institutional investors have portfolios that are focused on foriegn investments. Institutional investors do this all the time. And now individual investors have the platform to do same easily.

After reading your question, I had to highlight somethings that should be explained further.

1. Local Investment opportunities vs International investment opportunities
2. The use of BVN in registration for a investment platform.
3. Interpreting frequent Dividends as a proof of a profitable company.

To address this please continue reading:
1. So which is better foreign or local Investment.
I think it depends on your strategy and the edge you have over other investors.

You should understand that market efficiency means people are interested in evaluating the value and price of assets.

This means you won't get many investment opportunities to take advantage of.

Yes Foriegn investments are more efficient but that only means they are more regulated and they have smart people constantly evaluating assets. It's not easy to make good returns in efficient markets.

So make sure you have an edge and you have researched before investing abroad.

2. There is no way you can have an investment or financial account without providing your BVN.
It is mandatory.
And don't worry if you don't trust a company then don't use their service wait till they can be trusted first.

3. Please don't make the mistake of thinking that because a company pays dividend frequently, so that means you should invest in them.
Companies can pay interim dividends but this is not a constant thing. Dividends are not constant. It depends on the financial bouyancy of the company for that year.

Try and get the valuation of the business and make sure the fundamentals of the company are solid enough before investing.


If somethings are not still clear here please reach out on Twitter ask me afore t question and I will. Answer.

Hope this helps...�

20 Likes 4 Shares

Re: Buying US Stocks From Nigeria by mctfopt: 9:45am On Jan 22, 2020
Hi, did you later invest?
Re: Buying US Stocks From Nigeria by ArcFresky(m): 8:50pm On Feb 06, 2020
Send everyone is scared of the invest bamboo..

1 Like

Re: Buying US Stocks From Nigeria by akinsuraj(m): 11:20pm On Feb 06, 2020
ArcFresky:
Send everyone is scared of the invest bamboo..
I am not scared I Invested on bamboo I bought shares on Twitter and nokia and I think I made a right decision

1 Like

Re: Buying US Stocks From Nigeria by ukay2: 8:08am On Feb 09, 2020
gamaliel9:
Can Nigerians buy US STOCKS from Nigeria?Possibly yes... I heard about Chaka and decided to check on them....registration was difficult....i could not input my password.. Then somebody mentioned Trove...but you have to register with your international passport....i also saw an advert of Bamboo Investment App...all these are fintechs that try to bring global stocks to Nigerian residents...From my research,THEY WORK WITH STOCK BROKERS IN THE US AND YOU CAN BUY ANY STOCK YOU WANT, NOT SELECTED STOCKS.

Again, my interest in US stocks is that the market is very developed and efficient... can you believe that there are stocks that pay MONTHLY DIVIDENDS? Even QUARTERLY DIVIDEND....those stocks are sure salaries....they pay up to 90%,80% of the profits because they are exempted from paying certain type of taxes,so they must pay the dividend...This is done mostly by companies in property management and REITs,utility[electricity companies],pipeline companies etc...

Is this not better than what we have here?
What are the demerits of investing in US stocks from Nigeria? Are there problems with that? What do you think?


Please is Trove App good?

Which stocks are the high dividend paying stocks in US?
Re: Buying US Stocks From Nigeria by mctfopt: 3:11pm On Feb 10, 2020
Nigerians love their 100% ROI in three days, no one got time for 25% ROI in a year grin

6 Likes 1 Share

Re: Buying US Stocks From Nigeria by jashar(f): 5:00pm On Feb 11, 2020
gamaliel9:
Can Nigerians buy US STOCKS from Nigeria?Possibly yes... I heard about Chaka and decided to check on them....registration was difficult....i could not input my password.. Then somebody mentioned Trove...but you have to register with your international passport....i also saw an advert of Bamboo Investment App...all these are fintechs that try to bring global stocks to Nigerian residents...From my research,THEY WORK WITH STOCK BROKERS IN THE US AND YOU CAN BUY ANY STOCK YOU WANT, NOT SELECTED STOCKS.

Again, my interest in US stocks is that the market is very developed and efficient... can you believe that there are stocks that pay MONTHLY DIVIDENDS? Even QUARTERLY DIVIDEND....those stocks are sure salaries....they pay up to 90%,80% of the profits because they are exempted from paying certain type of taxes,so they must pay the dividend...This is done mostly by companies in property management and REITs,utility[electricity companies],pipeline companies etc...

Is this not better than what we have here?
What are the demerits of investing in US stocks from Nigeria? Are there problems with that? What do you think?

Hallos....

Which option did you eventually go for? I'm thinking of making the foreign investment decision too.
Re: Buying US Stocks From Nigeria by superman1073: 6:02pm On Feb 11, 2020
kiss
Re: Buying US Stocks From Nigeria by gamaliel9: 9:24pm On Feb 11, 2020
jashar:


Hallos....

Which option did you eventually go for? I'm thinking of making the foreign investment decision too.

I finally registered with Chaka..even bought some stocks that have appreciated...like Tesla etc..you can even buy fractional shares of companies like AMAZON,APPLE,ALPHABE[GOOGLE] ETC

3 Likes

Re: Buying US Stocks From Nigeria by jom28gy(m): 9:34pm On Feb 11, 2020
Does it mean that people without international passport, can't do it
Re: Buying US Stocks From Nigeria by gamaliel9: 9:53pm On Feb 11, 2020
jom28gy:
Does it mean that people without international passport, can't do it


Chaka does not demand international passport. BUT YOU MUST GIVE THEM YOUR BVN OR NO SHOW. But i think that Trove demands international passport. Go to their site to find out more.

2 Likes 1 Share

Re: Buying US Stocks From Nigeria by jashar(f): 11:12am On Feb 12, 2020
gamaliel9:


I finally registered with Chaka..even bought some stocks that have appreciated...like Tesla etc..you can even buy fractional shares of companies like AMAZON,APPLE,ALPHABE[GOOGLE] ETC

Thank you.
Re: Buying US Stocks From Nigeria by sunnrise01: 11:15am On Feb 12, 2020
temidayo40@gmail.com please how can I register and website
Re: Buying US Stocks From Nigeria by jom28gy(m): 5:52pm On Feb 12, 2020
gamaliel9:



Chaka does not demand international passport. BUT YOU MUST GIVE THEM YOUR BVN OR NO SHOW. But i think that Trove demands international passport. Go to their site to find out more.
ok
Re: Buying US Stocks From Nigeria by ChybuzzDD(m): 7:31am On Feb 13, 2020
gamaliel9:



Chaka does not demand international passport. BUT YOU MUST GIVE THEM YOUR BVN OR NO SHOW. But i think that Trove demands international passport. Go to their site to find out more.

Kindly let us know how you funded your account, converted naira to dollars to be able to buy the stocks, and how you will get the money to your naira account after selling. Thank you.
Re: Buying US Stocks From Nigeria by johneddy: 8:07am On Feb 13, 2020
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Re: Buying US Stocks From Nigeria by gamaliel9: 9:33pm On Feb 13, 2020
ChybuzzDD:


Kindly let us know how you funded your account, converted naira to dollars to be able to buy the stocks, and how you will get the money to your naira account after selling. Thank you.


I funded my account through online transfer,in `narration` i input my ID[chaka gives it to you] and my name too. i did this transfer before 9:30am. Before 12noon,it reflected in my account. Then i moved fast to the funding page...click on `EXCHANGE`.the interface for changing from naira to dollar or vice versa came..then i input the amount i wanted to be changed to dollar. It was successful.. Then around 3pm..it was reflecting in my dollar wallet.

NB
1. Do your transfer before 12noon
2. Do your exchange before 2pm..reason....for your money to reflect in your wallet the same day. If it passes 2pm...you will get your dollar the next business day. You can also do cash deposit..also observing the timelines above.

After selling, you follow the same pattern...you exchange your dollar to naira...then withdraw to your bank. Good luck

13 Likes 1 Share

Re: Buying US Stocks From Nigeria by ChybuzzDD(m): 4:17am On Feb 14, 2020
gamaliel9:



I funded my account through online transfer,in `narration` i input my ID[chaka gives it to you] and my name too. i did this transfer before 9:30am. Before 12noon,it reflected in my account. Then i moved fast to the funding page...click on `EXCHANGE`.the interface for changing from naira to dollar or vice versa came..then i input the amount i wanted to be changed to dollar. It was successful.. Then around 3pm..it was reflecting in my dollar wallet.

NB
1. Do your transfer before 12noon
2. Do your exchange before 2pm..reason....for your money to reflect in your wallet the same day. If it passes 2pm...you will get your dollar the next business day. You can also do cash deposit..also observing the timelines above.

After selling, you follow the same pattern...you exchange your dollar to naira...then withdraw to your bank. Good luck

You've painstakingly simplified it.
Thanks a lot!

4 Likes

Re: Buying US Stocks From Nigeria by ChybuzzDD(m): 4:43am On Feb 14, 2020
gamaliel9:



I funded my account through online transfer,in `narration` i input my ID[chaka gives it to you] and my name too. i did this transfer before 9:30am. Before 12noon,it reflected in my account. Then i moved fast to the funding page...click on `EXCHANGE`.the interface for changing from naira to dollar or vice versa came..then i input the amount i wanted to be changed to dollar. It was successful.. Then around 3pm..it was reflecting in my dollar wallet.

NB
1. Do your transfer before 12noon
2. Do your exchange before 2pm..reason....for your money to reflect in your wallet the same day. If it passes 2pm...you will get your dollar the next business day. You can also do cash deposit..also observing the timelines above.

After selling, you follow the same pattern...you exchange your dollar to naira...then withdraw to your bank. Good luck

Is there any stock you can advise one to buy now at a relatively cheaper price, going by your research so far?
Re: Buying US Stocks From Nigeria by gamaliel9: 8:59pm On Feb 14, 2020
ChybuzzDD:


Is there any stock you can advise one to buy now at a relatively cheaper price, going by your research so far?


I am not yet an expert in picking stocks...sometimes i do follow follow...or if i see a stock with good fundamentals rising...i buy it...once i hit 10 to 15% gain i sell it...then wait for another. Otherwise i am a dividend investor...

5 Likes

Re: Buying US Stocks From Nigeria by ukay2: 10:47am On Feb 15, 2020
gamaliel9:


I am not yet an expert in picking stocks...sometimes i do follow follow...or if i see a stock with good fundamentals rising...i buy it...once i hit 10 to 15% gain i sell it...then wait for another. Otherwise i am a dividend investor...

Sorry please be given us some stocks peak and those good dividend paying stocks

How are dividend payments going to be? I it via my wallet then I use it to buy more shares or I just withdraw it.....

Thanks

3 Likes 1 Share

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