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Us Stocks Pick Alert - Investment (327) - 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 IyaTola: 10:33pm On Aug 17
Horlawoomey:
There is a report that the CBN through a court injunction want to freeze the accounts of these trading platforms, i.e Trove, Chaka, Bamboo and Rise.

They wants to freeze their accounts for 180 days.
They have done that already, you cannot withdraw on any of the platforms. The people I pity are RiseVest

1 Like

Re: Us Stocks Pick Alert by IyaTola: 10:34pm On Aug 17
rmx:
https://nairametrics.com/2021/08/17/cbn-freezes-bank-accounts-of-six-fintech-platforms-for-180-days/
This is the reason diversification is important. This is targeted at young Nigerians

3 Likes

Re: Us Stocks Pick Alert by Skyfly007: 10:36pm On Aug 17
IyaTola:
They have done that already, you cannot withdraw on any of the platforms. The people I pity are RiseVest
https://www.thecable.ng/your-money-is-safe-accessible-bamboo-risevest-react-to-cbn-freeze-order#.YRwnAVK8Kkw.link

2 Likes

Re: Us Stocks Pick Alert by yok: 10:38pm On Aug 17
rmx:
https://nairametrics.com/2021/08/17/cbn-freezes-bank-accounts-of-six-fintech-platforms-for-180-days/

Let us hear what the Fintechs will say. But from the exchange rates these Fintechs are using, they are not using CBN's money. The Money seems to be from Bureau de change as per what I can see from Aboki FX.

Since the shares are with a major stockbroker either local or outside Nigeria, I believe the firms will do fast to make alternative arrangements for shareholders to access their shares. At least we are sure that the shares exist as we have been receiving direct communication/dividends from the various companies. I want to be objective on this matter, I know I am the one controling my investment, so it is not a case of giving my money to anybody as investment or buying anything directly from the Fintech Platform (the fraudulent operators are always in you invedsting directly with them, or you give then money for an indirect investment).

[/b]. The fintechs are just serving as alternatives, instead of patronising foreign stockbrokers directly by Nigerians which is the alternative.

Let us wait to hear how we can have access to our shares first and then we will know what to do next.

By tomorrow, I am sure we will get further information from the Fintech companies.

2 Likes

Re: Us Stocks Pick Alert by IyaTola: 10:38pm On Aug 17
Skyfly007:
https://www.thecable.ng/your-money-is-safe-accessible-bamboo-risevest-react-to-cbn-freeze-order#.YRwnAVK8Kkw.link
Try and withdraw and see if you can withdraw. Just wondering, why was Passfolio excluded from the CBN court issue?

2 Likes

Re: Us Stocks Pick Alert by 4Play(m): 10:56pm On Aug 17
Kennyking1234:
This beautiful thread is now a ghost town..

The thread "died" when the YOLO stocks peaked in February/March 2021. It was very predictable that the buzz/excitement won't last.....selecting individual stocks that outperform is more difficult than many people like to believe.

Now the CBN appears to have delivered another blow. It appears the government's specialty is maximising hardship.

5 Likes

Re: Us Stocks Pick Alert by IyaTola: 11:03pm On Aug 17
4Play:


The thread "died" when the YOLO stocks peaked in February/March 2021. It was very predictable that the buzz/excitement won't last.....selecting individual stocks that outperform is more difficult than many people like to believe.

Now the CBN appears to have delivered another blow. It appears the government's specialty is maximising hardship.
Let's wait and see what happens next

1 Like

Re: Us Stocks Pick Alert by afroxyz: 11:32pm On Aug 17
4Play:


The thread "died" when the YOLO stocks peaked in February/March 2021. It was very predictable that the buzz/excitement won't last.....selecting individual stocks that outperform is more difficult than many people like to believe.

Now the CBN appears to have delivered another blow. It appears the government's specialty is maximising hardship.

Its normal. When the market is green, everyone would forming genius

3 Likes

Re: Us Stocks Pick Alert by yok: 11:40pm On Aug 17
IyaTola:
Try and withdraw and see if you can withdraw. Just wondering, why was Passfolio excluded from the CBN court issue?

Passfolio is operationg from outside Nigeria, that is why it is not listed. Unfortunately for somebody like me, I will not go to passfolio as I believe it is still a Nigerian operating outside the country- this what CBN is asking for Chaka/Trove can go and be operating from Ghana or anywhere outside Nigera and Nigerians will still patrise them, (for passfolio I read their 1st introductory article in Punch Newspaper and what the fellow talk about making money from Customers deposit made me uncomfortable, money in my trading account is for trading, it is always in transit, if i want to save money I will open a depost account).

Our plan B should be for us to get our International passport and be prepared to open account with foreign Brokers like etoro, Trade212, for those outside Nigeria very easy the like of Fidelity is there. Just like the Ladipo boys or any medium size importers are getting their money from Bureau De change, we get our Dollar outside the CBN system and then patronise the Foreign Brokers, Forex trading has been going on for ages like this.

Chaka, Trove and co will develop the Nigerian economy as the patronage of Foreign Stockbrokers will reduce if they are allow to operate.

Please tommorrow we continue let us have a nice rest, our portfolios are with the main stockbrokers home and abroad.

1 Like 1 Share

Re: Us Stocks Pick Alert by Elsueno: 7:05am On Aug 18
mehn....it really suvcks to be a Nigerian.... Especially at this time..The more u try to survive, the more the govt kills u...Na so I go just dey look my money but can't withdraw at all...well, I hope can still use am to l trade stocks on the app Sha.


Anyways...can a U.S bank account be opened in Nigeria?

2 Likes

Re: Us Stocks Pick Alert by samsonadekoya12(m): 7:14am On Aug 18
[quote author=yok post=104907720]

Passfolio is operationg from outside Nigeria, that is why it is not listed. Unfortunately for somebody like me, I will not go to passfolio as I believe it is still a Nigerian operating outside the country- this what CBN is asking for Chaka/Trove can go and be operating from Ghana or anywhere outside Nigera and Nigerians will still patrise them, (for passfolio I read their 1st introductory article in Punch Newspaper and what the fellow talk about making money from Customers deposit made me uncomfortable, money in my trading account is for trading, it is always in transit, if i want to save money I will open a depost account).

Our plan B should be for us to get our International passport and be prepared to open account with foreign Brokers like etoro, Trade212, for those outside Nigeria very easy the like of Fidelity is there. Just like the Ladipo boys or any medium size importers are getting their money from Bureau De change, we get our Dollar outside the CBN system and then patronise the Foreign Brokers, Forex trading has been going on for ages like this.

[b]Chaka, Trove and co will develop the Nigerian economy as the patronage of Foreign Stockbrokers will reduce if they are allow to operate.[/

Trade212 I guess are not accepting clients at all from, specifically they do not accept clients from Nigeria.

1 Like

Re: Us Stocks Pick Alert by Willie2015: 7:24am On Aug 18
IyaTola:
Try and withdraw and see if you can withdraw. Just wondering, why was Passfolio excluded from the CBN court issue?

Passfolio is not a Nigerian fintech...
Coy is based in the US...
And makes the app available in over 170 countries....
Dont think they source their FX need....
in Naija here.

1 Like

Re: Us Stocks Pick Alert by Willie2015: 7:37am On Aug 18
[quote author=samsonadekoya12 post=104912610][/quote]

Passfolio is registered with the..
FINRA and SIPC...
Dats a solid regulatory oversight..

1 Like

Re: Us Stocks Pick Alert by samsonadekoya12(m): 7:45am On Aug 18
Willie2015:


Passfolio is registered with the..
FINRA and SIPC...
Dats a solid regulatory oversight..

Minimum deposit requirements for passfolio?

1 Like

Re: Us Stocks Pick Alert by Willie2015: 7:49am On Aug 18
samsonadekoya12:


Minimum deposit requirements for passfolio?

$0

1 Like

Re: Us Stocks Pick Alert by samsonadekoya12(m): 8:01am On Aug 18
Willie2015:


$0

Thanks. Just checked the rate of dollar to Naira exchange in passfolio. 521 naira to dollar..Wow.

1 Like

Re: Us Stocks Pick Alert by Willie2015: 8:06am On Aug 18
samsonadekoya12:


Thanks. Just checked the rate of dollar to Naira exchange in passfolio. 521 naira to dollar..Wow.

Wetin we go do now.....

1 Like

Re: Us Stocks Pick Alert by prince3009(m): 11:21am On Aug 18
Willie2015:


$0

Really? Are you sure? Like I can start with as low as $50 deposit?

Or even $20

1 Like

Re: Us Stocks Pick Alert by IyaTola: 11:34am On Aug 18
DriveWealth, based in that fintech hotbed of Chatham, NJ, is the platform that the European online bank Revolut will use to provide its more than six million customers an avenue to trade American stocks.

Over the past several years, DriveWealth has launched partnerships with firms on six continents. It has developed innovative investing technology and a customizable suite of APIs that partners can use to provide investment capabilities to their clients.

With its Revolut launch DriveWealth acquired 20,000 customers in 36 hours, CEO Robert Cortright said. The challenger bank started with the holders of its premium metal cards.

“You get 100 free trades if you are a metal member,” said Cortright. ”In Europe, where equities can cost $10 a trade, this whole idea of affordable access to the U.S. securities market is very popular.”

Local authorities don’t mind because earnings made in the U.S. will mostly return to home countries.

Exchanges see potential for growth from foreign investors and are advertising abroad, he added. It diversifies their shareholders and brings foreign capital into the U.S.

DriveWealth, which launched its fractional share trading capabilities in 2016, enables investors of any size to gain affordable access to the U.S. stock market from a range of countries, including India, Nigeria and Brazil.

“Fintech is growing globally and we saw a real need to rebuild the plumbing for the infrastructure for these retail digital operations,” said DriveWealth’s CEO Robert Cortright. After gaining experience in markets outside the U.S. he plans to provide brokerage services domestically as well.

“We’re like Intel Inside,” Cortright said, borrowing the tech company’s branding. “We are the plumbing, we serve up brokerage capabilities through APIs, all cloud-based.  If you are a large player in financial services and you want to add brokerage, you can plug and play with DriveWealth. It’s like what Stripe does for credit cards.”

....Forbes.

1 Like

Re: Us Stocks Pick Alert by yok: 12:59pm On Aug 18
US STOCK PICKS 18 AUGUST

The market is currently in a bearish zone, with Fed speaking before the market, to see what the market will do, we are still in risk-off mode. The probability for today is that the bearish move will be less than what we saw yesterday.

Today we just have new stock for our watchlist. Let us see how it will move today (we are not buying immediately), we will buy on retracement – trend resumption -then higher high. The new stock is CDZI- A water producing company.

Our Trading Plan Blueprint Manual plus free trading system video is now available. It is a case of buy one get 2 promotion.



Caution: This is for information purposes only. Data used are assumed to be correct. However, you may want to verify the data from an appropriate source. Also, Institutions can afford to suffer big losses without going burst compared with an individual, you cannot follow them blindly (you need to at least have some knowledge/your own plan).

This document remains the personal property of Target technical analysis https://twitter.com/AnalysisTarget

1 Like

Re: Us Stocks Pick Alert by IyaTola: 1:31pm On Aug 18
�In my opinion CBN are trying to engineer a bank run on these fintechs... So that investing Nigerians on this platforms might feel the need to exchange their investment for Naira just to be safe.... In return raising Naira value short term like their thinking

1 Like

Re: Us Stocks Pick Alert by afroxyz: 2:52pm On Aug 18
IyaTola:
�In my opinion CBN are trying to engineer a bank run on these fintechs... So that investing Nigerians on this platforms might feel the need to exchange their investment for Naira just to be safe.... In return raising Naira value short term like their thinking

How is this possible? How many Nigerians even invest that the capital would be enough to push the naira up? The issue is growing the exonomy which would raise the value of the Naira.

You cant be operating two parrallel exchange rates and exoect your cureenvy to be strong.

You give government appointees and piligrims dollar at official rate and those guys would roundtrip and sell to BDCs. Who is deceving who? They ban BDC, ban crypto, ban importation on some goods, pay people N5 to change their dollars. Yet the government is still borrowing and not producing. It won't work. Let them keep beating around the bush

7 Likes

Re: Us Stocks Pick Alert by seyisanya(m): 3:17pm On Aug 18
emmanuelewumi:



They wanted to freeze or they have frozen it
Pa Emma emerged! Lol grin

1 Like

Re: Us Stocks Pick Alert by yok: 5:54pm On Aug 18
104927631: Pa Emma emerged! Lol grin

Unfortunately I have nothing to sell at the moment or unutilised balance on any of the 2 platforms I am using. I would have sold a Nigeria Stock on Chaka and see what will happen to the transaction.

Nevertheless let us keep the forum updated on this matter.

I observed that users of this forum are unlike NSEMPA, most seems to be reasonable and matured individuals. Please let us keep it up and we should continue to find a way out for ourselves. I want to wait to hear that somebody, have tried withdrawal and is not possible, then the option of asking Chaka or Trove to tell Drivewealth to transfer our account temporarily to a broker in another Country, allow the situation to become normal in Nigeria, then our accounts can come back.

Still keeping our arms crossed as we kinow there is definitely a way out. Thank God the Platform are not 419ers.

2 Likes

Re: Us Stocks Pick Alert by Lexusgs430: 6:38pm On Aug 18
$PFE is really doing well....... grin

42.83% increase no be beans...... I am thankful I got infected with covid......... cheesy

1 Like

Re: Us Stocks Pick Alert by afroxyz: 7:47pm On Aug 18
In as much as I appreciate the good effort of some forum members, you guys should be careful of what you say here. There are spies lurking.

4 Likes

Re: Us Stocks Pick Alert by Sabiboy99: 8:23pm On Aug 18
afroxyz:
In as much as I appreciate the good effort of some forum members, you guys should be careful of what you say here. There are spies lurking.

What can a spy do.. isn't there freedom of speech anymore..

6 Likes

Re: Us Stocks Pick Alert by 4Play(m): 8:25pm On Aug 18
afroxyz:


How is this possible? How many Nigerians even invest that the capital would be enough to push the naira up? The issue is growing the exonomy which would raise the value of the Naira.

You cant be operating two parrallel exchange rates and exoect your cureenvy to be strong.

You give government appointees and piligrims dollar at official rate and those guys would roundtrip and sell to BDCs. Who is deceving who? They ban BDC, ban crypto, ban importation on some goods, pay people N5 to change their dollars. Yet the government is still borrowing and not producing. It won't work. Let them keep beating around the bush

The most frustrating is the multiple exchange rates which is simply an avenue for them to profit from arbitrage by buying dollars at official rates and selling at market rates.

Having instituted a policy framework to facilitate their thievery, they then set about frustrating entrepreneurs in particular and Nigerians in general all in a bid to ensure a constant stream of loot.

It's just cruelty and greed masquerading as legitimate exchange rate management.

A lot of them are also aging dinosaurs, so they don't appreciate these fintech ventures and want to curtail them in order to ensure they alone get to decide who gets scarce foreign exchange.

4 Likes

Re: Us Stocks Pick Alert by afroxyz: 11:07pm On Aug 18
Sabiboy99:


What can a spy do.. isn't there freedom of speech anymore..

I'm not saying anybody would come to your house to arrest or track you. But I cant say more than this.

1 Like

Re: Us Stocks Pick Alert by afroxyz: 11:11pm On Aug 18
4Play:


The most frustrating is the multiple exchange rates which is simply an avenue for them to profit from arbitrage by buying dollars at official rates and selling at market rates.

Having instituted a policy framework to facilitate their thievery, they then set about frustrating entrepreneurs in particular and Nigerians in general all in a bid to ensure a constant stream of loot.

It's just cruelty and greed masquerading as legitimate exchange rate management.

A lot of them are also aging dinosaurs, so they don't appreciate these fintech ventures and want to curtail them in order to ensure they alone get to decide who gets scarce foreign exchange.

Nigerian banks have believed that they were indispensable until fintechs came. When you have a career banker as a CBN boss, this is what u should expect.

3 Likes

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