horlajide:


Update:

There are miscalculations in my previous post. I think it is right I correct it in case there are potential investors and traders whose significant deciding factor on which platform to use is the transaction cost. The benchmark should be $133 as against $200 which I earlier quoted. Glancing at my bamboo trade confirmations, I suddenly realized my transaction cost exceed $2 even though they were below $200. I made a table for the sake of clarity

Thanks alot for this..so bamboo for traders with less money

horlajide:


Update:

There are miscalculations in my previous post. I think it is right I correct it in case there are potential investors and traders whose significant deciding factor on which platform to use is the transaction cost. The benchmark should be $133 as against $200 which I earlier quoted. Glancing at my bamboo trade confirmations, I suddenly realized my transaction cost exceed $2 even though they were below $200. I made a table for the sake of clarity

Cost or commission is part of the reason i decided if am going to trade any stock....it has to be not more than $100... above that...no way.... again my dividend portfolio, no stock price is above $100...you need big money in other to make it with these fintechs...they are just milking Nigerians

arduino:

On Bamboo

Were you able to buy it?

Care4:


Were you able to buy it?

No. Not interested.

gamaliel9:


Cost or commission is part of the reason i decided if am going to trade any stock....it has to be not more than $100... above that...no way.... again my dividend portfolio, no stock price is above $100...you need big money in other to make it with these fintechs...they are just milking Nigerians

I remember some Nigerians in the US chatting about trading with ridiculous small units of stocks - I was like ''these ones are only making money for their brokers'' - only for me to later realise that they are not paying any commission for both buy/sell. My advice for Nigerians based in Nigeria using these Fintechs is to think longterm. Buy good companies at a great bargain and wait it out.

seyisanya:
I remember some Nigerians in the US chatting about trading with ridiculous small units of stocks - I was like ''these ones are only making money for their brokers'' - only for me to later realise that they are not paying any commission for both buy/sell. My advice for Nigerians based in Nigeria using these Fintechs is to think longterm. Buy good companies at a great bargain and wait it out.

Yes. Thanks to Robinhood and co.......most brokers now charge zero commision on stock trades. That was the only way to maintain market share.

sharpman1:


Yes. Thanks to Robinhood and co.......most brokers now charge zero commision on stock trades. That was the only way to maintain market share.

I guess Etoro also charges zero commission on trades, and they allow Nigerians.
I just don't know their downsides.

Please is there any Good broker that accepts Nigerians, This Choicetrade does not have Real Time Quotes.

sharpman1:


Yes. Thanks to Robinhood and co.......most brokers now charge zero commision on stock trades. That was the only way to maintain market share.

FXTM sent me a message today that i can buy and sell stocks with no commission...no fees...no management fee etc.

gamaliel9:



FXTM sent me a message today that i can buy and sell stocks with no commission...no fees...no management fee etc.

Sounds cool. Didn't complete my registration

seyisanya:
I remember some Nigerians in the US chatting about trading with ridiculous small units of stocks - I was like ''these ones are only making money for their brokers'' - only for me to later realise that they are not paying any commission for both buy/sell. My advice for Nigerians based in Nigeria using these Fintechs is to think longterm. Buy good companies at a great bargain and wait it out.

Well said

Buy and Hold seem to be the strategy if you are a Nigerian based in Nigeria


Just make sure you enter at a good entry price.


That said


The explosion of Robinhood and all these other platforms have unleashed a wave of amateur investors into tbe market that will ne devoured by tbe sharks

Imagine the rat trap with Hertz

Lmao

And the other one that committed suicide

gamaliel9:



FXTM sent me a message today that i can buy and sell stocks with no commission...no fees...no management fee etc.

I searched "FXTM" here on NL and it wasn't glad tidings, to say the least. Might want to be cautious there.

damurphy:
I was using Etoro platform but had to withdraw my funds to trading 212 because of convenience of zero trading fee I'm enjoying in trading 212 platform. My major issue with Etoro is their high minimum trade value of $500. For those not comfortable with platform fees e.g trade commission, deposit fee, and withdrawal fees should check out trading 212.

Hello there !
I tried registering on Trading 212 but I don't a TIN (Tax Identification Number)
How do I go about this?

gamaliel9:



FXTM sent me a message today that i can buy and sell stocks with no commission...no fees...no management fee etc.

Until you buy and sell at zero commission, I refuse to believe. Nigerian institutions can hide hidden charges just to gain clients base while marketing their services.

DexterousOne:


Well said

Buy and Hold seem to be the strategy if you are a Nigerian based in Nigeria


Just make sure you enter at a good entry price.


That said


The explosion of Robinhood and all these other platforms have unleashed a wave of amateur investors into tbe market that will ne devoured by tbe sharks

Imagine the rat trap with Hertz

Lmao

And the other one that committed suicide

Please let's us do well to steer clear of the narratives of these disgruntled institutional investors. Eaten by which sharks? While they were waiting, the 'amateur' investors made a killing in airlines, GNUS, Chesapeake, SPOT and INO. If there is anything the market has thought us it's that nobody is an expert. These so-called experts are having a hard time understanding that the market has changed due to the influx of retail investors. It has thrown up a wave of unpredictability for them which they are yet to grasp. These guys spin narratives to suit their own startegies. JP Morgan CEO Jamie Dimon called bitcoin a fraud and warned that any trader caught trading bitcoin would be fired. The value of bitcoin fell by 24% after his statement. Sure enough, JP Morgan and Morgan Stanley started investing in bitcoin for their clients after that. After slamming bitcoin at the world economic forum.in 2018, George Soros started investing in bitcoins 8 weeks after, of course after the price had fallen. So leave all these guys. They are masters of mass manipulation. They would make you buy the rumour so that you can sell it as news

afroxyz:


Please let's us do well to steer clear of the narratives of these disgruntled institutional investors. Eaten by which sharks? While they were waiting, the 'amateur' investors made a killing in airlines, GNUS, Chesapeake, SPOT and INO. If there is anything the market has thought us it's that nobody is an expert. These so-called experts are having a hard time understanding that the market has changed due to the influx of retail investors. It has thrown up a wave of unpredictability for them which they are yet to grasp. These guys spin narratives to suit their own startegies. JP Morgan CEO Jamie Dimon called bitcoin a fraud and warned that any trader caught trading bitcoin would be fired. The value of bitcoin fell by 24% after his statement. Sure enough, JP Morgan and Morgan Stanley started investing in bitcoin for their clients after that. After slamming bitcoin at the world economic forum.in 2018, George Soros started investing in bitcoins 8 weeks after, of course after the price had fallen. So leave all these guys. They are masters of mass manipulation. They would make you buy the rumour so that you can sell it as news

I get your point

But you are making a different point


Forget the institutional investors
I'm not even referring to them.


Look

These platforms opened the gates for so many who do not have the temperament for Trading/Investment

Amateurs if I may call them that

I follow up on Robinhood users, and its very interesting the kind of comments I read there.


Pls try to understand where I am coming from

For someone like me, for example, being a Chartered Accountant, and Finance Major, I take my time to read through financial statements and dividend policy of EVERY COMPANY OF INTEREST.
I find the time to do that, and I'm sure many of us here do one form of analysis or the other.


On the other hand, the vast majority are trading BLIND
You know it, and I know it too lmao

Some of them are going into margin trading and options (people that cannot even interpret simple financial ratios o lmao) cos they hear they can make so much money if they hit it right

afroxyz:


Please let's us do well to steer clear of the narratives of these disgruntled institutional investors. Eaten by which sharks? While they were waiting, the 'amateur' investors made a killing in airlines, GNUS, Chesapeake, SPOT and INO. If there is anything the market has thought us it's that nobody is an expert. These so-called experts are having a hard time understanding that the market has changed due to the influx of retail investors. It has thrown up a wave of unpredictability for them which they are yet to grasp. These guys spin narratives to suit their own startegies. JP Morgan CEO Jamie Dimon called bitcoin a fraud and warned that any trader caught trading bitcoin would be fired. The value of bitcoin fell by 24% after his statement. Sure enough, JP Morgan and Morgan Stanley started investing in bitcoin for their clients after that. After slamming bitcoin at the world economic forum.in 2018, George Soros started investing in bitcoins 8 weeks after, of course after the price had fallen. So leave all these guys. They are masters of mass manipulation. They would make you buy the rumour so that you can sell it as news

And let me add

Being an amateur investor is NOT being a small scale investor o.
Cos I see a number if young men on YouTube who are sound in Technical Analysis
Those ones cant be termed Amateurs

The amateurs here are the ones trading at a whim.

You have no FA/TA skills

You dont know much about the investing cycle
And all that


We even had an incident of an amateur investor here, that lost money cos of lack of understanding and was blaming the platform instead of himself/herself


That's my point

DexterousOne:


And let me add

Being an amateur investor is NOT being a small scale investor o.
Cos I see a number if young men on YouTube who are sound in Technical Analysis
Those ones cant be termed Amateurs

The amateurs here are the ones trading at a whim.

You have no FA/TA skills

You dont know much about the investing cycle
And all that


We even had an incident of an amateur investor here, that lost money cos of lack of understanding and was blaming the platform instead of himself/herself


That's my point

Lol..I get you

afroxyz:


Lol..I get you

And trust me

There is a huge influx of investors like that.

If you dont have the temperament for investing

You sit on the bench and just watch

That's the harsh truth.


I'll use myself as example

Looking at my portfolio..

Its blood all over (red red things if you get me)


I know I picked sound companies and I am still strategizing to pick more units of these companies at a cheaper rate

Many of us here reason the same way

But I have seen amateurs look at their portfolio

All red

And they get panic attacks, looking for who to blame, and doing all manners of irrational things.

Unfortunately
Like I said before

More of such types are flocking into the market, looking for quick fix

Gurus in the house, can we get stock picks alerts? Especially one with upside potentials. I follow some nice guys on their recommendations but most of the recommended stocks are not found in Nigeria fintechs platforms.

NoTimeZone:
Hello there !
I tried registering on Trading 212 but I don't a TIN (Tax Identification Number)
How do I go about this?

. Go to any FIRS office and register. You'll be given after 10 days. It's free

phantino:
Please is there any Good broker that accepts Nigerians, This Choicetrade does not have Real Time Quotes.

check out Trading 212

sharpman1:


I should be getting live tips from you and have you on speed dial.

It's pure luck o. I lose as well.

damurphy:
check out Trading 212

Do they operate on zero.commission? What are their charges like

It's so easy to make and loose money in this market.

Yesterday, I saw EKSO had done almost 100% at $5 and thought it must have gone too high to join the bus for quick profit.

Before 8pm, it had hit $7.
If I had bought at $5, I would have been almost 50% up.

Who knows what happens today?

OakPearl:
And there goes our dear INO.
While we were busy waiting for it to come to the $8/$9 junction for boarding, it catapults to $20 gaining over 30% today!

They announced that they won a $71 million contract with the U.S. Department of Defense (DOD) to scale up the manufacturing of their Cellectra 3PSP smart devices. The DOD will also acquire some of Inovio's Cellectra 2000 devices as part of the deal. Both of these devices are used to administer INO-4800 -- Inovio's potential vaccine for COVID-19 -- directly into the patient's skin.

This is one of the beauties of the US markets.
May you wake up one morning to find one of your stocks have jumped 90%!!!

Just 2 days after this post, INO is already making a 52-week high of $31.25.
It just may keep rising like garri inside water today.

Alexandre7:


Lol...

Just my UAL call alone made $5000+

Airline stock are literally free money now.

Check out Luckin Coffee {LK}

This’s a high risk., high reward trade.

Got in around 2.77, I’m almost up 100%+

I hope you're no longer holding any position in this killer stock!

YerYer:


It's pure luck o. I lose as well.

I disagree. I think it is more of luck meets preparedness. You definitely understand this market. More wins, boss!

OakPearl:
It's so easy to make and loose money in this market.

Yesterday, I saw EKSO had done almost 100% at $5 and thought it must have gone too high to join the bus for quick profit.

Before 8pm, it had hit $7.
If I had bought at $5, I would have been almost 50% up.

Who knows what happens today?

Very valid, but then, it could have been the other way around. The volatility of Bio stocks no b here, I fear dem.

seyisanya:
I hope you're no longer holding any position in this killer stock!

I dumped it at market open.

All my portfolio is red today.

I won’t be looking at the market again today so I don’t do something stupid.

It’s one of those days you just sit & do nothing.