QuinModah:
They cannot so zero commission, they pay for renewal of license fee to SEC, rent, utility bills, salaries to name a few, rather they would rip Nigerians off with their charges, notably to mention is Chaka

why would any one want them to do free any way. What we need is minimal
and reasonable charges and good servixe

Could the present situation with DiDi be a perfect opportunity to jump on the stock? After all they say 'buy the rumor, and sell the news'. Well I just picked up some shares though, I absolutely believe the risk to reward at the current price level is just too good to ignore.

QuinModah:
They cannot so zero commission, they pay for renewal of license fee to SEC, rent, utility bills, salaries to name a few, rather they would rip Nigerians off with their charges, notably to mention is Chaka

But Chaka commission is currently like 0.69%, And to be fair, their are certain weeks that they even offer zero commissions on trade. For buying solid stocks for long term keeping, they are awesome

Elsueno:


But Chaka commission is currently like 0.69%, And to be fair, their are certain weeks that they even offer zero commissions on trade. For buying solid stocks for long term keeping, they are awesome

This started today..very flexible. I am a beneficiary of those zero fees and even fees payback...its getting interesting..the competition has started... good for investors

If someone buys a US stock from any of this apps mentioned, how do you get to be sure that your name is on the company register?

Elsueno:


But Chaka commission is currently like 0.69%, And to be fair, their are certain weeks that they even offer zero commissions on trade. For buying solid stocks for long term keeping, they are awesome

Makes sense.

gabscity:
If someone buys a US stock from any of this apps mentioned, how do you get to be sure that your name is on the company register?

A lot of this the companies offering US stocks in Nigeria (pretty much all of them) are in fact just proxies that ride of the infrastructure of a US company called drive wealth. Drive wealth is a broker as a service company that allow other companies out side the US use its trading infrastructure to offer US shares to their customers.

It is a 2 way relationship. The Nigerian company help Drivewealth KYC of their Nigerian US (required by us law) while drive wealth allow them access to the US stock market. Revolut in UK uses drivewealth under similar arrangement

What this means is that when you send your money to chaka, trove or bamboo invest you are in fact giving your money to drivewealth same thing happens when you buy US shares from them, the shares are actually bought directly from drive wealth.

Drivewealth is a registered LLC in the US and they are legit and well regulated under FINRA and SIPC as well as US SEC. They also have an insurance cover for your money for up to $250,000. This insurance means that if you put money in your Trove, Chaka, Bamboo wallet, you are in fact putting the money with drivewealth and should drive wealth or any of the Nigerian company go under, you would get your money with them back (The insurance doe not cover losses you made trading with your money)

No say Trove or Chaka or Bamboo go under, what happens to your shares? Well they are with drivewealth under your name so you should be fine. You can even reach out to drive wealth to request for a transfer of your shares from them to another broker (this can happen if you decide to japa from Nigeria and want your shares to be managed by another broker.

In long and short of this is that. Your money is safe with drivewealth and your shares are safe.

Caveat: I do not work for either drivewealth, chaka or trove, I have no business relationship with any of them.
I am not a financial adviser and this is no financial advise.

Very true actually. I receive emails on a steady to attend meetings, vote for decisions, election of directors e.t.c

I would be more interested in that transfer though. I would like to transfer from Bamboo to Revolut at some point sha.

QuinModah:
They cannot so zero commission, they pay for renewal of license fee to SEC, rent, utility bills, salaries to name a few, rather they would rip Nigerians off with their charges, notably to mention is Chaka

I believe the foreign stock brokerages also have overhead cost and employees. However, the whole gamestop vs robinhood saga has shown that zero-commission trading also has a a hidden cost as the brokerages have to make money somehow. Like the old saying goes, if you are not paying for it, you are the product. I still believe the Nigerian brokerages will get better with time.

So..the answer:

Initial budget: $50
First sale: -$50
Bought: $60
Profit: $10

Second sale:
Budget $60
Price: $70
Bought: -$70
Sold: $80
Profit: $10

He added -$10 to first sale and again made $10.

He’s now back to zero.



We try to overcomplicate issues. That is life, but with this, trade is not that straightforward. We need to understand risk/reward.

Hence some people lose money but think they made money. It's not the same here folks.

1Password:


Risk appetite: Medium
Age: 33
Capital: 10m

This response is coming quite late, but it's better late than never. Please, take note of the previous comments and act on them accordingly.

To add to other brilliant suggestions, at 33, chances are you have a family or already contemplating having one soon. Please, don't quit your job simply because of the need to further your education. 10m is nothing in today's Nigeria. With the constant devaluation of the naira and inflation that has gone through the roof, you'll soon realise that quitting your job to live off the returns of a 10m investment, as a Master's student(I assume), who probably has a family, is a tough one.

My suggestion is for you to invest the 10m as earlier advised and continue to do what you did to save the money in the first instance: keep your job! Use the magic of compounding to your advantage by going long term, and you'll be amazed at the difference it'll make in your financial life.

Finally, change your full-time programme to part-time, and you'll be just fine.

oshdot:
Could the present situation with DiDi be a perfect opportunity to jump on the stock? After all they say 'buy the rumor, and sell the news'. Well I just picked up some shares though, I absolutely believe the risk to reward at the current price level is just too good to ignore.

Yeah

Hello seniors. I'm a newbie to stock investment. I have one question that keeps bothering me, which is: if i buy a stock on chaka for example and after some days the stock increased and I decided to sell it, will i sell it to chaka or I have to look for someone who wants to buy?

IyaTola:

So..the answer:

Initial budget: $50
First sale: -$50
Bought: $60
Profit: $10

Second sale:
Budget $60
Price: $70
Bought: -$70
Sold: $80
Profit: $10

He added -$10 to first sale and again made $10.

He’s now back to zero.



We try to overcomplicate issues. That is life, but with this, trade is not that straightforward. We need to understand risk/reward.

Hence some people lose money but think they made money. It's not the same here folks.

There are lessons here.

1. Read the question. Know why you’re in the market.

2. Don’t work hard to make money and then give it back to the market. It’s not about what you make, it’s all about what you keep.

3. Learn to differentiate if you’re trading or investing.

4. Have a process. We are all still learning no matter how long we stay in this market.

5. Learn to accept when you’re wrong. Don’t be too stubborn. It will make you poor.

I’m learning all lessons above too by the way.

YerYer:


I believe the foreign stock brokerages also have overhead cost and employees. However, the whole gamestop vs robinhood saga has shown that zero-commission trading also has a a hidden cost as the brokerages have to make money somehow. Like the old saying goes, if you are not paying for it, you are the product. I still believe the Nigerian brokerages will get better with time.

You are right many broker that offer commission free trade make money else where. Some through spreads, through selling of the user data but most through what is called share lending where your shares is lent out by the broker for a profit. Nothing is free in that sense of the world.

Nicoswit:
Hello seniors. I'm a newbie to stock investment. I have one question that keeps bothering me, which is: if i buy a stock on chaka for example and after some days the stock increased and I decided to sell it, will i sell it to chaka or I have to look for someone who wants to buy?

When you sell or buy a unit or units of share(s) you are actually buying from or selling to someone else just like you. What the broker does is to find someone else ready to buy your shares for the price you are offering it. If your share is liquid enough ( that is has lots of people trading it) you will easily find buyer / seller for it. If on the other hand it is a small share with not many trading in it.. then it might take some time to execute a sale.. a sale is when you can match a willing seller to a willing buyer. The broker does the connection ( hence the name )

bigrovar:


When you sell or buy a unit or units of share(s) you are actually buying from or selling to someone else just like you. What the broker does is to find someone else ready to buy your shares for the price you are offering it. If your share is liquid enough ( that is has lots of people trading it) you will easily find buyer / seller for it. If on the other hand it is a small share with not many trading in it.. then it might take some time to execute a sale.. a sale is when you can match a willing seller to a willing buyer. The broker does the connection ( hence the name )

Thanks bro

Nicoswit:
Hello seniors. I'm a newbie to stock investment. I have one question that keeps bothering me, which is: if i buy a stock on chaka for example and after some days the stock increased and I decided to sell it, will i sell it to chaka or I have to look for someone who wants to buy?

Just click on the SELL BUTTON and select the number of shares you want to sell then you're good to go

You can now withdraw the sales proceed into your bank or use it to reinvest in another stock of your choice

Susily:


Just click on the SELL BUTTON and select the number of shares you want to sell then you're good to go

You can now withdraw the sales proceed into your bank or use it to reinvest in another stock of your choice

Ok thanks

IyaTola:

So..the answer:

Initial budget: $50
First sale: -$50
Bought: $60
Profit: $10

Second sale:
Budget $60
Price: $70
Bought: -$70
Sold: $80
Profit: $10

He added -$10 to first sale and again made $10.

He’s now back to zero.



We try to overcomplicate issues. That is life, but with this, trade is not that straightforward. We need to understand risk/reward.

Hence some people lose money but think they made money. It's not the same here folks.

I think you should have quoted the post or question you were responding to

Susily:


Just click on the SELL BUTTON and select the number of shares you want to sell then you're good to go

You can now withdraw the sales proceed into your bank or use it to reinvest in another stock of your choice

One of the good things about trading stock is that you do not look for any buyer, you can sell anytime without any hindrance. The market is there anytime you want to sell. However, you should buy only liquid stock. Any stock trading below 100,000 units per day should be avoided and equally avoid stocks below $1.00 till you have some experience

Nicoswit:

Ok thanks

One of the good things about trading stock is that you do not look for any buyer, you can sell anytime without any hindrance. The market is there anytime you want to sell. However, you should buy only liquid stock. Any stock trading below 100,000 units per day should be avoided and equally avoid stocks below $1.00 till you have some experience

yok:


One of the good things about trading stock is that you do not look for any buyer, you can sell anytime without any hindrance. The market is there anytime you want to sell. However, you should buy only liquid stock. Any stock trading below 100,000 units per day should be avoided and equally avoid stocks below $1.00 till you have some experience

Thanks for the insight bro

Tobex4realTobex234:
Very true actually. I receive emails on a steady to attend meetings, vote for decisions, election of directors e.t.c

I would be more interested in that transfer though. I would like to transfer from Bamboo to Revolut at some point sha.

Revolut is good, but hindered by shares/cryptos listed.......

US STOCK PICKS 12 JULY

Looking forward to another new week, this market is not for the faint hearted as NASDAQ is trading close to the resistance level of 14,750, equally many equities are in breakout zone with risk of pullback on buying them, thus we need to know that we have high risk in the market at the moment. We are picking PUMP (Oil service stock) as our stock to start of the new week. The big hope keeping the market going will be the earnings, then to a lesser extent SPCE, I am sure by Monday premarket (one showed around 12pm WA Time), will be one of the expected top gainers because of Branson's trip this will be another lifter for the market. Need more stock ideas, join our WhatsApp group on +2349095701197, for whatApp group members we have another stock for today the one above was from Friday 9th July, but still in the buying zone.

Go to out YouTube page see link below to see a video on our stock recommendation.


For meme stock: SPCE, AMC, CLOV, VACO, LUV, NBA etc.

Sign up with Trove using the link in our profile page, you will get either 5 stocks of Dangote Sugar or GTB, plus our cheat sheet containing the secrets of trading profitable/guide you to trade for the 1st few days after funding your account and free membership of our Group. For the free membership of our group there are some terms and conditions that apply. Please e-mail us once you have funded your account via out link with trove and we will send you the cheat sheet and add you to the whatsApp group free for one month.


Caution: This is for information purpose 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 [url]https://twitter.com/AnalysisTarget, [/url][url]
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