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Us Stocks Pick Alert - Investment (27) - Nairaland

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

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Re: Us Stocks Pick Alert by netotse(m): 10:14pm On Apr 09, 2020
YerYer:


This stock has rallied over 30% since this post. I bought a few shares and a call option, i'm up 50% since then.

on what platform do you buy call options?
Re: Us Stocks Pick Alert by seyisanya(m): 11:14pm On Apr 09, 2020
tommieen:



Hello I'm Oluwatomi, a co-founder at Trove. Happy to help with any issues. I have been reading quite a number of comments here and would address as i see them. Let me know if i can help with anything
Hello Tomi, glad you're here. To start with, I would like to appreciate your initiative to make the US market more accessible to Nigerians. Trove has a superb user-friendly interface which I love; hence, I use Trove more than Chaka(my alternative trading platform, but has a poor interface and not easy to navigate).

A few questions:
-Why is it impossible to directly fund my trading account in USD when the same is possible on Chaka?
-Why is it impossible to cancel an order on Trove while this could be easily done on Chaka?

Finally, please, don't interpret this the wrong way. I like what you guys are doing but, you will agree with me that every good thing requires some sort of improvement. I look forward to your response.
Re: Us Stocks Pick Alert by YerYer: 11:33pm On Apr 09, 2020
abuhusna1:
Maybe you should be telling us if you want to make any move cos some of us will follow you do your stunt

I already do though. But will continue so you can join me in making or losing money grin

5 Likes

Re: Us Stocks Pick Alert by YerYer: 11:37pm On Apr 09, 2020
netotse:


on what platform do you buy call options?

TD Ameritrade
Re: Us Stocks Pick Alert by seyisanya(m): 12:03am On Apr 10, 2020
seyisanya:
Hello Tomi, glad you're here. To start with, I would like to appreciate your initiative to make the US market more accessible to Nigerians. Trove has a superb user-friendly interface which I love; hence, I use Trove more than Chaka(my alternative trading platform, but has a poor interface and not easy to navigate).

A few questions:
-Why is it impossible to directly fund my trading account in USD when the same is possible on Chaka?
-Why is it impossible to cancel an order on Trove while this could be easily done on Chaka?

Finally, please, don't interpret this the wrong way. I like what you guys are doing but, you will agree with me that every good thing requires some sort of improvement. I look forward to your response.
I just read your other responses, and glad you've already responded to my first question. But as a follow-up, how soon are we to expect a full functionality of direct USD deposit/account funding on Trove? Thanks.
Re: Us Stocks Pick Alert by ViVaMadrid: 12:34am On Apr 10, 2020
YerYer:


TD Ameritrade

I earlier asked on here about the possibility of running that broker here in Nigeria, was told that it wasn't possible... Please give me tips

By the way, are you in Nigeria?
Re: Us Stocks Pick Alert by netotse(m): 12:40am On Apr 10, 2020
YerYer:


TD Ameritrade
thanks, can see they aren't naija friendly. Do you know of any that is? where you can buy options
Re: Us Stocks Pick Alert by Nobody: 12:49am On Apr 10, 2020
Nice thread
Re: Us Stocks Pick Alert by YerYer: 1:16am On Apr 10, 2020
ViVaMadrid:


I earlier asked on here about the possibility of running that broker here in Nigeria, was told that it wasn't possible... Please give me tips

By the way, are you in Nigeria?


Oh I'm not in Nigeria but Ghanaians are allowed to use their platform. Maybe if there's much interest, it wouldn't be a bad idea to start an online campaign, get enough votes and urge them to consider adding Nigerians. But there are Nigerian brokers making great strides such as Trove, Chaka and Bamboo.

1 Like

Re: Us Stocks Pick Alert by YerYer: 1:25am On Apr 10, 2020
netotse:


on what platform do you buy call options?

Td Ameritrade but they don't operate in Nigeria.
Re: Us Stocks Pick Alert by YerYer: 1:31am On Apr 10, 2020
@Tommieen thanks for taking the time to stop by here and answer questions. I started investing in stocks 5 yrs ago when I came across a thread right here on Nairaland and it has helped me immensely, so I will never underestimate the potential of this platform. Back then though, there was virtually no way to trade US stocks from Nigeria so its really nice to see there are finally alternatives and I strongly believe you guys have first-mover advantage to corner this market. I just have a few questions: Is there any plan to allow margin and options trading on Trove? Also will it be possible to create a kind of paper trading account on Trove to allow new investors practice and test out strategies before trading with actual money? And lastly, will it be possible to buy fractional shares someday on the Trove app?

2 Likes

Re: Us Stocks Pick Alert by tommieen: 11:43am On Apr 10, 2020
Hi Yeryer,

We are exploring a few things around margin and options but I cannot communicate anything concrete yet. We however have a demo trading account on the app and also allow fractional share purchases on US stocks as well.

YerYer:
@Tommieen thanks for taking the time to stop by here and answer questions. I started investing in stocks 5 yrs ago when I came across a thread right here on Nairaland and it has helped me immensely, so I will never underestimate the potential of this platform. Back then though, there was virtually no way to trade US stocks from Nigeria so its really nice to see there are finally alternatives and I strongly believe you guys have first-mover advantage to corner this market. I just have a few questions: Is there any plan to allow margin and options trading on Trove? Also will it be possible to create a kind of paper trading account on Trove to allow new investors practice and test out strategies before trading with actual money? And lastly, will it be possible to buy fractional shares someday on the Trove app?
Re: Us Stocks Pick Alert by YerYer: 3:14pm On Apr 10, 2020
tommieen:
Hi Yeryer,

We are exploring a few things around margin and options but I cannot communicate anything concrete yet. We however have a demo trading account on the app and also allow fractional share purchases on US stocks as well.


Oh I didn't know there was a demo account and users can't fractional shares. I must commend you guys for what you are doing and I believe with time every minor issue will be worked out.
Re: Us Stocks Pick Alert by kunlef1: 6:43pm On Apr 10, 2020
@Tommieen

I will also like you to respond to this question raised earlier, as I also experienced it. It is very easy for someone to forget that you have placed an order on a stock if you cannot view or cancel it. Although I must mention that you were able to cancel it from your end when I raised the issue.

-Why is it impossible to cancel an order on Trove while this could be easily done on Chaka?
Re: Us Stocks Pick Alert by abuhusna1: 6:54pm On Apr 10, 2020
@ tommieen or any guru in the house my own concern is God forbid if trove goes into liquidation and we have our stock hanging with them how can we have access to our stocks cos I am now a long term investor and don't want a story that touches the heart
Re: Us Stocks Pick Alert by seyisanya(m): 11:18pm On Apr 10, 2020
It seems @tommieen intentionally decided to ignore my queries as he responded to @YerYer whose inquiry was after mine. Apologies if comparing Trove with a competitor, Chaka, was the reason you decided not to respond. I just wanted to put things in perspective, nothing more. Thanks.
Re: Us Stocks Pick Alert by seyisanya(m): 11:32pm On Apr 10, 2020
abuhusna1:
@ tommieen or any guru in the house my own concern is God forbid if trove goes into liquidation and we have our stock hanging with them how can we have access to our stocks cos I am now a long term investor and don't want a story that touches the heart
He already provided a wonderful response to this on page 26.

1 Like

Re: Us Stocks Pick Alert by abuhusna1: 12:04am On Apr 11, 2020
seyisanya:
He already provided a wonderful response to this on page 26.
Thanks boss

1 Like

Re: Us Stocks Pick Alert by tommieen: 1:52am On Apr 11, 2020
Sincere apologies, Didn't intentionally skip over this. We anticipate wider rollout of the direct funding before this month runs out.
seyisanya:
I just read your other responses, and glad you've already responded to my first question. But as a follow-up, how soon are we to expect a full functionality of direct USD deposit/account funding on Trove? Thanks.
Re: Us Stocks Pick Alert by Blackethics: 6:41pm On Apr 11, 2020
@tomi, I want you to talk more on why one can not cancel transaction. I had an issue on it recently with trove. I had to chat with you to cancel it from your end which you did. For over 8 calendar days, I could not cancel my transactions and as a result missed opportunities of buying cheap and selling high.
Secondly, you mentioned that the charge is $2, but the transactions I did last week, I was charged $2.50. why was it so

Thirdly, why does it take 48hrs or more before fx deposit can reflect on account. Why not 24hrs.

I must confess that you app is user friendly and you guys are quick to respond to queries.
Re: Us Stocks Pick Alert by tommieen: 10:07pm On Apr 11, 2020
seyisanya:
It seems @tommieen intentionally decided to ignore my queries as he responded to @YerYer whose inquiry was after mine. Apologies if comparing Trove with a competitor, Chaka, was the reason you decided not to respond. I just wanted to put things in perspective, nothing more. Thanks.


LOL. Sir it was not like that o..There were quite a number of messages to respond to.

Still haven't responded to everything.

Please let me know your inquiry, i'd be happy to help
Re: Us Stocks Pick Alert by tommieen: 10:14pm On Apr 11, 2020
Blackethics:
@tomi, I want you to talk more on why one can not cancel transaction. I had an issue on it recently with trove. I had to chat with you to cancel it from your end which you did. For over 8 calendar days, I could not cancel my transactions and as a result missed opportunities of buying cheap and selling high.
Secondly, you mentioned that the charge is $2, but the transactions I did last week, I was charged $2.50. why was it so

Thirdly, why does it take 48hrs or more before fx deposit can reflect on account. Why not 24hrs.

I must confess that you app is user friendly and you guys are quick to respond to queries.


First off, thanks for the nice words. Happy to hear.

As regards cancelling transactions, we know how stressful reaching out to us every time you make an error or just want to get out of a pending position. To fix that, we are currently working on building feature that into the application. Should be available to users real soon.

As regards the cost, we recently reviewed the minimum cost to $2.00 down from $2.50. You probably did a transaction just before the change was effected.

The 48 hrs FX timeline is not fixed, how quickly the funds gets settled depends on 2 factors. One being the amount, lower amounts typically settle faster and second being liquidity/ availability of FX by our partners.

A number of the people who funded on Thursday this past week for example got value that same day. We just give 2 business days as a max timeline, it settles before that a lot of times.

4 Likes

Re: Us Stocks Pick Alert by tommieen: 10:19pm On Apr 11, 2020
Blackethics:
@tomi, I want you to talk more on why one can not cancel transaction. I had an issue on it recently with trove. I had to chat with you to cancel it from your end which you did. For over 8 calendar days, I could not cancel my transactions and as a result missed opportunities of buying cheap and selling high.
Secondly, you mentioned that the charge is $2, but the transactions I did last week, I was charged $2.50. why was it so

Thirdly, why does it take 48hrs or more before fx deposit can reflect on account. Why not 24hrs.

I must confess that you app is user friendly and you guys are quick to respond to queries.
Re: Us Stocks Pick Alert by OluwatobiMayowa: 11:23am On Apr 12, 2020
For someone like me that earns USD, it's a very terrible investment decision for me to sell my USD at 380 for NGN and then have to buy USD from Trove at 420 or so.

While I like that Trove has more offerings than Bamboo, I basically prefer Bamboo for now to Trove because of its direct USD deposit feature.

As this is a new feature you are just building, it will make sense to get insights or pain points from people who currently use such service. So these are my questions:

1. How long from confirmation of deposit will it take for the USD to appear in my wallet?
2. Is it feasible technically and practically to move stocks from one app to the other (e.g move from Bamboo to Trove)?
3. Where can I see the current updated commision charges for buy and sell orders on Trove.

Thanks in anticipation tommieen
Re: Us Stocks Pick Alert by OakPearl(m): 10:29pm On Apr 12, 2020
Happy Easter great people.
Gilead holders, this could be another reason to hold or ride the news.

3 Likes

Re: Us Stocks Pick Alert by OakPearl(m): 1:33pm On Apr 13, 2020
Just to inform the house that the US market is open for trading today.
Pre-market is looking good from my observations.

2 Likes

Re: Us Stocks Pick Alert by thesilentone(m): 3:39pm On Apr 13, 2020
OakPearl:
Just to inform the house that the US market is open for trading today.
Pre-market is looking good from my observations.

I was surprised when I realised the market was open on Friday. We have been on holiday with lockdown.
Re: Us Stocks Pick Alert by OakPearl(m): 4:24pm On Apr 13, 2020
thesilentone:


I was surprised when I realised the market was open on Friday. We have been on holiday with lockdown.

Same here, especially because of the fact the NSE is closed for the Easter holiday in Nigeria.

1 Like

Re: Us Stocks Pick Alert by OakPearl(m): 4:32pm On Apr 13, 2020
OakPearl:
Just to inform the house that the US market is open for trading today.
Pre-market is looking good from my observations.

Market update:
Though the Dow has dropped 600 points at he moment, most of the good stocks on our watch seems to be weathering the storm.
TSLA - Up by $35.56
SPCE - Down by $0.17
NIO- Up by $0.17
AAPL- Up by $0.12
ZM- Up by $8.04
GILD - Up by $1.01

Above prices continue their fluctuations in the course of the day's trading.

4 Likes

Re: Us Stocks Pick Alert by seyisanya(m): 6:17pm On Apr 13, 2020
OakPearl:


Market update:
Though the Dow has dropped 600 points at he moment, most of the good stocks on our watch seems to be weathering the storm.
TSLA - Up by $35.56
SPCE - Down by $0.17
NIO- Up by $0.17
AAPL- Up by $0.12
ZM- Up by $8.04
GILD - Up by $1.01

Above prices continue their fluctuations in the course of the day's trading.
Sir, what was your entry price here? cc: YerYer. Thanks.
Re: Us Stocks Pick Alert by abuhusna1: 6:44pm On Apr 13, 2020
OakPearl:


Market update:
Though the Dow has dropped 600 points at he moment, most of the good stocks on our watch seems to be weathering the storm.
TSLA - Up by $35.56
SPCE - Down by $0.17
NIO- Up by $0.17
AAPL- Up by $0.12
ZM- Up by $8.04
GILD - Up by $1.01

Above prices continue their fluctuations in the course of the day's trading.
I entered Tesla at 555
Apple 167
Willing to buy back NIO as China Market is opening up
Re: Us Stocks Pick Alert by abuhusna1: 6:46pm On Apr 13, 2020
thesilentone:


I was surprised when I realised the market was open on Friday. We have been on holiday with lockdown.
Just seeing this now so happy and I gained from my tesla

3 Likes

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