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Buying US Stocks From Nigeria - Investment (3) - 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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Re: Buying US Stocks From Nigeria by OvaSabi1(f): 11:10pm On Jul 17, 2020
drskyfly007:
Yap I trade with bamboo and am having a good experience..

What exchange rates do they charge when you want to withdraw?
Re: Buying US Stocks From Nigeria by wableo: 8:25am On Jul 22, 2020
I heard for foreign stocks you pay as high 30 per cent tax on your dividends. Especially USA stocks. Can anybody confirm it?

It was even clearly stated in trove I guess.
Re: Buying US Stocks From Nigeria by cosycee(m): 2:06pm On Jul 30, 2020
midolian:
As much as I have interest in it, I can't risk giving my BVN to any one
I tried to register and I saw Bvn stuff.. Mehn na there I pause ⏸

2 Likes

Re: Buying US Stocks From Nigeria by cosycee(m): 2:13pm On Jul 30, 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...

HI Bro.. What other things can one invest in in Nigeria , cos I'm such an investment junkie
Re: Buying US Stocks From Nigeria by Demurray: 9:31am On Jul 31, 2020
I am Chaka verification chart but I don't understand what they mean by 'OTP' it is 4 digits number. Someone should shed light to this pls.
Re: Buying US Stocks From Nigeria by Demurray: 2:25pm On Aug 01, 2020
@gamalie19 like you said you do follow follow, I would also like to be your follower as I am a novice in stock investment . Pls be given us stock on Chaka that pays monthly dividend. It will be really appreciated. Thanks
Re: Buying US Stocks From Nigeria by ingenuity2014: 10:00pm On Aug 02, 2020
Demurray:
@gamalie19 like you said you do follow follow, I would also like to be your follower as I am a novice in stock investment . Pls be given us stock on Chaka that pays monthly dividend. It will be really appreciated. Thanks

Yes it would be really appreciated. We know we have to do our own due diligence though. Besides what is the tax rate on dividends? Is it really 30%?

1 Like

Re: Buying US Stocks From Nigeria by okeboy1: 3:34am On Aug 03, 2020
Why waste time trying to access the US Stock exchange, when you can trade it every morning from you computer in Nigeria with a valid US sponsor.

Check out MRNA and Kodak movements this week on the Nasdaq and NYSE
Re: Buying US Stocks From Nigeria by Victoryjoel: 11:42am On Aug 04, 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?

I opened the chaka account I want to fund my account but am a bit confused,I need explanation on which one to fund is it my local wallet or global wallet and what are there differences.
Re: Buying US Stocks From Nigeria by Bejusttoall: 5:15pm On Aug 04, 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...

I just got approval from trove to trade, please enlighten how to vavigate through the app for instance, which wallet to fund if I'm buying foreign stock, how to get the best stock to buy etc Thanks.
Re: Buying US Stocks From Nigeria by kalu61(m): 5:46am On Aug 05, 2020
okeboy1:
Why waste time trying to access the US Stock exchange, when you can trade it every morning from you computer in Nigeria with a valid US sponsor.

Check out MRNA and Kodak movements this week on the Nasdaq and NYSE
lt was crazy
Re: Buying US Stocks From Nigeria by gamaliel9: 1:23pm On Aug 05, 2020
Victoryjoel:


I opened the chaka account I want to fund my account but am a bit confused,I need explanation on which one to fund is it my local wallet or global wallet and what are there differences.


It depends on the market you want to trade on. If you want to buy local stocks deposit naira in local wallets and if you want to trade US stocks deposit dollar in your international wallet..however they have a domiciliary account for that..so ask them. outside the above you can deposit naira then exchange to dollar on their platform. You will see where it is written EXCHANGE..

If you want to deposit through the chaka app,that is with your debit card, there is a 2k fee to be paid to PAYSTACK there. So choose one.
Re: Buying US Stocks From Nigeria by gamaliel9: 1:25pm On Aug 05, 2020
Bejusttoall:


I just got approval from trove to trade, please enlighten how to vavigate through the app for instance, which wallet to fund if I'm buying foreign stock, how to get the best stock to buy etc Thanks.


I use Chaka only. You can find out from the site itself or contact them through SUPPORT on the site
Re: Buying US Stocks From Nigeria by gamaliel9: 1:30pm On Aug 05, 2020
Demurray:
@gamalie19 like you said you do follow follow, I would also like to be your follower as I am a novice in stock investment . Pls be given us stock on Chaka that pays monthly dividend. It will be really appreciated. Thanks


grin Follow the money!!! Monthly stocks are many. You can google this" Monthly dividend stocks in US''

For example, O, MAIN,EPR,LTC, are all monthly paying stocks.

3 Likes 1 Share

Re: Buying US Stocks From Nigeria by Bejusttoall: 8:10pm On Aug 05, 2020
gamaliel9:



I use Chaka only. You can find out from the site itself or contact them through SUPPORT on the site

Thanks a lot

Please can you share how you buy and sell on Chaka, maybe I can do the same on Trove ?
Re: Buying US Stocks From Nigeria by gamaliel9: 9:24pm On Aug 05, 2020
Bejusttoall:


Thanks a lot

Please can you share how you buy and sell on Chaka, maybe I can do the same on Trove ?

I transfer money from my bank app to their account before 9am... Then i send an email to them attaching the debit alert with my Chaka ID in narration or description depending on your back. This money normally land in my account before 1pm. Then i exchange it immediately to dollar[ do this before 2pm]. Then around 4:30pm ..the dollar lands in my trading wallet. Then i have already known which stock to buy. At the top, there is search for stock space. I just type in the name of the stock or the sticker[ eg Iron Mountain is IRM]...it will appear,you click on it..then you will see 'buy'...you click on it...buying interface will show with ' quantity'..' buy limit[ the price limit you want to buy the stock]'... write'amount'... enter the numbers you want....then click on buy..'confirm buy' will appear'...then you confirm....the system will do the rest

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Re: Buying US Stocks From Nigeria by gamaliel9: 9:27pm On Aug 05, 2020
Bejusttoall:


Thanks a lot

Please can you share how you buy and sell on Chaka, maybe I can do the same on Trove ?


To sell.... login to your account...your portfolio will show you the rest.... you will see where it is written 'sell'...click on it...'confirm sell'..you are done
Re: Buying US Stocks From Nigeria by Bejusttoall: 12:22pm On Aug 06, 2020
gamaliel9:


I transfer money from my bank app to their account before 9am... Then i send an email to them attaching the debit alert with my Chaka ID in narration or description depending on your back. This money normally land in my account before 1pm. Then i exchange it immediately to dollar[ do this before 2pm]. Then around 4:30pm ..the dollar lands in my trading wallet. Then i have already known which stock to buy. At the top, there is search for stock space. I just type in the name of the stock or the sticker[ eg Iron Mountain is IRM]...it will appear,you click on it..then you will see 'buy'...you click on it...buying interface will show with ' quantity'..' buy limit[ the price limit you want to buy the stock]'... write'amount'... enter the numbers you want....then click on buy..'confirm buy' will appear'...then you confirm....the system will do the rest

wow... thanks a lot, i really appreciate
Re: Buying US Stocks From Nigeria by gamaliel9: 1:54pm On Aug 07, 2020
If you are trading with Chaka, whatever you do, bear in mind that $2 + $2 is $4[ buying and selling]

So make sure you profit surpasses $4 before you sell any stock, otherwise you are losing and making money for them. Think long term please.

3 Likes 2 Shares

Re: Buying US Stocks From Nigeria by Demurray: 6:48pm On Aug 07, 2020
@gamalie19 pls bro don't understand what you mean by $2 +$2. Pls kindly she'd light. Thanks.
Re: Buying US Stocks From Nigeria by justsmile(f): 8:51pm On Aug 07, 2020
Bejusttoall:


Thanks a lot

Please can you share how you buy and sell on Chaka, maybe I can do the same on Trove ?

Hi, just joined trove as well. I'm also a novice. Pls if you've found your around the system on stock buying and all, pls kindly share with me.
Re: Buying US Stocks From Nigeria by gamaliel9: 9:20pm On Aug 07, 2020
Demurray:
@gamalie19 pls bro don't understand what you mean by $2 +$2. Pls kindly she'd light. Thanks.

2$ is commission for buying which is Chaka s money
Another 2$ is commission for selling.. Chaka s money too

So total for buying and selling is 4$

However if you buy a stock that sells more than 200$, that commission is going to be 1%. That is if you buy a stock of 300$... you pay 3$ ommission.
A stock of 400$...you pay 4$ commission
A stock of 500$..you pay 5$ commission.... ainsi de suite...etc
Re: Buying US Stocks From Nigeria by Bejusttoall: 9:51pm On Aug 07, 2020
justsmile:


Hi, just joined trove as well. I'm also a novice. Pls if you've found your around the system on stock buying and all, pls kindly share with me.

Alright, still dey examine the app.
Re: Buying US Stocks From Nigeria by justsmile(f): 4:49pm On Aug 08, 2020
Bejusttoall:


Alright, still dey examine the app.

Ok. Expect a feedback from you. Thanks
Re: Buying US Stocks From Nigeria by kandydude1(m): 8:01am On Aug 10, 2020
Between Trove, Chaka and Bamboo which can a novice understand and navigate easily?

1 Like

Re: Buying US Stocks From Nigeria by Demurray: 7:30am On Aug 11, 2020
gamaliel9:


2$ is commission for buying which is Chaka s money
Another 2$ is commission for selling.. Chaka s money too

So total for buying and selling is 4$

However if you buy a stock that sells more than 200$, that commission is going to be 1%. That is if you buy a stock of 300$... you pay 3$ ommission.
A stock of 400$...you pay 4$ commission
A stock of 500$..you pay 5$ commission.... ainsi de suite...etc
Re: Buying US Stocks From Nigeria by Demurray: 7:32am On Aug 11, 2020
@gamalie19, thank you so much. I really appreciate.
Re: Buying US Stocks From Nigeria by molybdenum0012: 12:20pm On Aug 11, 2020
Thanks for bring up this thread. I have gone through the chaka website. i have few question on the exchange rate. Instead of funding my account for Nigeria here, can I use someone in the US to fund the account for me while I convert to Naira to buy the local shares. Please, I would really love answer to this question.

1 Like

Re: Buying US Stocks From Nigeria by gamaliel9: 8:38pm On Aug 11, 2020
molybdenum0012:
Thanks for bring up this thread. I have gone through the chaka website. i have few question on the exchange rate. Instead of funding my account for Nigeria here, can I use someone in the US to fund the account for me while I convert to Naira to buy the local shares. Please, I would really love answer to this question.


I do not think they accept third party funding. But ask them to be sure. Write to support. The email address should be in the app
Re: Buying US Stocks From Nigeria by sircatherine45(m): 12:33am On Aug 13, 2020
gamaliel9, thanks for this trade
However, I'm trying to download the app via Google play, but to no success.
Any alternative site to download? Or you send it via Whatsapp?
Re: Buying US Stocks From Nigeria by gamaliel9: 2:36pm On Aug 13, 2020
sircatherine45:
gamaliel9, thanks for this trade

However, I'm trying to download the app via Google play, but to no success.

Any alternative site to download?
Or you send it via Whatsapp?

I use laptop for Chaka. But you can send them message..their CS[ customer service] is good.

1 Like

Re: Buying US Stocks From Nigeria by sircatherine45(m): 9:13am On Aug 21, 2020
gamaliel9:


I transfer money from my bank app to their account before 9am... Then i send an email to them attaching the debit alert with my Chaka ID in narration or description depending on your back. This money normally land in my account before 1pm. Then i exchange it immediately to dollar[ do this before 2pm]. Then around 4:30pm ..the dollar lands in my trading wallet. Then i have already known which stock to buy. At the top, there is search for stock space. I just type in the name of the stock or the sticker[ eg Iron Mountain is IRM]...it will appear,you click on it..then you will see 'buy'...you click on it...buying interface will show with ' quantity'..' buy limit[ the price limit you want to buy the stock]'... write'amount'... enter the numbers you want....then click on buy..'confirm buy' will appear'...then you confirm....the system will do the rest

Deposits and withdrawals are instant

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