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Stats: 2,641,191 members, 6,182,272 topics. Date: Saturday, 06 March 2021 at 09:03 AM
|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?
6 Likes 1 Share
|Re: Buying US Stocks From Nigeria by midolian(m): 7:14pm On Nov 10, 2019|
gamaliel9: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.
|Re: Buying US Stocks From Nigeria by emmalated(m): 5:58pm On Nov 12, 2019|
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: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: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
16 Likes 1 Share
|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.
3 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
|Re: Buying US Stocks From Nigeria by gamaliel9: 3:32pm On Nov 16, 2019|
BVN.. ...fear of losing money may make you not to make money....
|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|
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...�
19 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..
|Re: Buying US Stocks From Nigeria by akinsuraj(m): 11:20pm On Feb 06, 2020|
ArcFresky:I am not scared I Invested on bamboo I bought shares on Twitter and nokia and I think I made a right decision
|Re: Buying US Stocks From Nigeria by ukay2: 8:08am On Feb 09, 2020|
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
5 Likes 1 Share
|Re: Buying US Stocks From Nigeria by jashar(f): 5:00pm On Feb 11, 2020|
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|
|Re: Buying US Stocks From Nigeria by gamaliel9: 9:24pm On Feb 11, 2020|
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
|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|
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|
|Re: Buying US Stocks From Nigeria by sunnrise01: 11:15am On Feb 12, 2020|
firstname.lastname@example.org please how can I register and website
|Re: Buying US Stocks From Nigeria by jom28gy(m): 5:52pm On Feb 12, 2020|
|Re: Buying US Stocks From Nigeria by ChybuzzDD(m): 7:31am On Feb 13, 2020|
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|
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.
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|
You've painstakingly simplified it.
Thanks a lot!
|Re: Buying US Stocks From Nigeria by ChybuzzDD(m): 4:43am On Feb 14, 2020|
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|
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...
|Re: Buying US Stocks From Nigeria by ukay2: 10:47am On Feb 15, 2020|
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.....
2 Likes 1 Share
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