Lmao, most of this Nigerian U.S trading apps are crazy expensive....U can use foreign app for years with little commission to non at all for years...but 9ja own, small thing crazy commission, some with even something call maintenance fee like d thieving banks.... metchew, make i just concentrate on NSE & gold jare!

GLOBAL STOCK IS GOOD
For the local APPs we just have to bear with them. Most of us have been dealing with the APPs for 2 years plus and we know that their business is challenging (this is the reason why technically some of them after some time may go out of business, but our money is still safe as our stocks are domiciled with a main broker, for all the Nigerian APP including some foreign ones too, drivewealth is the main broker).

What we need to care about is just to develop our trading skill and this will come with longevity in the market. So number one thing is develop our trading skill by having a good trading indicator /indicator which we should master very well, example may be ADX/MACD combination.

Let us take our mind off what I call non-essentials like:
- platform not having stop or sell order facility (e.g SPROUTIFI), around 2021 or is it 2020 when we started this global trading thing, 8 was using limit order and stop loss, but I still made big losses. Today I use market orders and use my indicators (mostly MA, plus overbought levels to tell me when to get our

- commission as long as is reasonable (maximum 1.5% flat) is okay. If we read some history of stock/coonidity trading, commission use to be far higher than this 1% we are having today, it was like 3% until the likes of Charles SChWAB started their brokerages). In Nigeria looking at the cost of doing business, the brokerages need commission to survive, don't be suprised one of the local APPs may go out of business very soon (if they cannot attract new clients, there are/is a brokerage in this forum which many of us have stopped using, we are just wating for them to announce that they are closing and drivewealth will transfer whatever stock we have with them to another broker, simple but highly probable).

So basic thing is learn to have a trading skill (it will take some time, you will lose some money, but if you start gradually with reasonable capital (will not mention any amount, but NGN8,000 should be absolute minimum, ignore those who say you can start with less, or if you start with a lower amount know that you are just practicing or trying to lran the robes it is allowed, for this about NGN8000 should be okay with the likes of Chaka where you can trade with $0 50 and still pay a flat commission of 1% without the penalty of a minimum rate)

-have 2 trading accounts one local, one foreign (if possible) or 2 local. This is to ensure that you can trade on a day that one of them have issues, just like it happened to chaka on 18 and 18th July 2023)

- Platforms that have stop loss is good (Chaka, Trove have, I have used the 2 brokers). This is needed in case you decise to protect your profits or if you're in a risky position and you fear platform may be off for a day or too (this will be unusual, but in Nigeria anything can happen)

- Finally put some money in a good stock like NVDA/TSLA for now ($10$ should be okay), and in 5 years see what you will have, you will know if you should be in Global stock. For me, thank God I starred with Nigeria stocks (but I have decide that Global stocks are better as I can have my investments Diversified over Countries like: NVDA(US), PBR((Brazil), YINN (CHINA), CVI (Canada), SBSW (South Africa) etc. So problem is one country (Nigeria is in inflation/governance problem at the moment) will not weigh me down, I can have my money working for me in thest climate)

Let us strive for longevity and stay focused in this Global stock, there is BIG MONEY HERE.

yok:
GLOBAL STOCK IS GOOD
For the local APPs we just have to bear with them. Most of us have been dealing with the APPs for 2 years plus and we know that their business is challenging (this is the reason why technically some of them after some time may go out of business, but our money is still safe as our stocks are domiciled with a main broker, for all the Nigerian APP including some foreign ones too, drivewealth is the main broker).

What we need to care about is just to develop our trading skill and this will come with longevity in the market. So number one thing is develop our trading skill by having a good trading indicator /indicator which we should master very well, example may be ADX/MACD combination.

Let us take our mind off what I call non-essentials like:
- platform not having stop or sell order facility (e.g SPROUTIFI), around 2021 or is it 2020 when we started this global trading thing, 8 was using limit order and stop loss, but I still made big losses. Today I use market orders and use my indicators (mostly MA, plus overbought levels to tell me when to get our

- commission as long as is reasonable (maximum 1.5% flat) is okay. If we read some history of stock/coonidity trading, commission use to be far higher than this 1% we are having today, it was like 3% until the likes of Charles SChWAB started their brokerages). In Nigeria looking at the cost of doing business, the brokerages need commission to survive, don't be suprised one of the local APPs may go out of business very soon (if they cannot attract new clients, there are/is a brokerage in this forum which many of us have stopped using, we are just wating for them to announce that they are closing and drivewealth will transfer whatever stock we have with them to another broker, simple but highly probable).

So basic thing is learn to have a trading skill (it will take some time, you will lose some money, but if you start gradually with reasonable capital (will not mention any amount, but NGN8,000 should be absolute minimum, ignore those who say you can start with less, or if you start with a lower amount know that you are just practicing or trying to lran the robes it is allowed, for this about NGN8000 should be okay with the likes of Chaka where you can trade with $0 50 and still pay a flat commission of 1% without the penalty of a minimum rate)

-have 2 trading accounts one local, one foreign (if possible) or 2 local. This is to ensure that you can trade on a day that one of them have issues, just like it happened to chaka on 18 and 18th July 2023)

- Platforms that have stop loss is good (Chaka, Trove have, I have used the 2 brokers). This is needed in case you decise to protect your profits or if you're in a risky position and you fear platform may be off for a day or too (this will be unusual, but in Nigeria anything can happen)

- Finally put some money in a good stock like NVDA/TSLA for now ($10$ should be okay), and in 5 years see what you will have, you will know if you should be in Global stock. For me, thank God I starred with Nigeria stocks (but I have decide that Global stocks are better as I can have my investments Diversified over Countries like: NVDA(US), PBR((Brazil), YINN (CHINA), CVI (Canada), SBSW (South Africa) etc. So problem is one country (Nigeria is in inflation/governance problem at the moment) will not weigh me down, I can have my money working for me in thest climate)

Let us strive for longevity and stay focused in this Global stock, there is BIG MONEY HERE.

Always inspiring. I'm glad I keyed into the international stock market. I feel kind of embarrassed that I knew nothing about the international market till last year. But it's better to start than do nothing.

sgtponzihater1:


Always inspiring. I'm glad I keyed into the international stock market. I feel kind of embarrassed that I knew nothing about the international market till last year. But it's better to start than do nothing.

Yes, that is where you can consistently build a portfolio and make wealth.Anything Nigeria is fraught with bad government policies and corruption.

Foreign stocks trading is the sure plug for financial growth.like you said it's better late than never.

many are yet to be aware of this.@yok did a great job for opening this thread to dimystify trading on foreign stocks.

Many still thinks it's imposible.

Elsueno:

Lmao, most of this Nigerian U.S trading apps are crazy expensive....U can use foreign app for years with little commission to non at all for years...but 9ja own, small thing crazy commission, some with even something call maintenance fee like d thieving banks.... metchew, make i just concentrate on NSE & gold jare!

Bro I just dey laugh u, time will surely tell. With naira going to 1000/1$ it won't be long that u realize that what you are holding is paper and not money.

sgtponzihater1:


Always inspiring. I'm glad I keyed into the international stock market. I feel kind of embarrassed that I knew nothing about the international market till last year. But it's better to start than do nothing.

Yes ooo so painful I started late too but thank God is not too late, the current sun shining can still dry clothes. I entered in 2021 but wt misinformation I got I kind of back down but I came back fully after my series of questions and enquiry I came back fully June 28 and thank God am happy I did. Even in less than a Month my small money has given return of 12%. I was just thinking if one invest $5k in 2yrs by God grace one can turn it to 100k and if dollar is 1000/1$ then that is 100m in naira. I bought a stock yesterday it did 50% during trading only to settle at 38% profit taking on it today that is expected but am holding to my target

aremso:


Bro I just dey laugh u, time will surely tell. With naira going to 1000/1$ it won't be long that u realize that what you are holding is paper and not money.

Wetin u dey talk? Am just pissed off d so called local apps are fleecing my hard earned $, if not outrageous $1 to $0.5 commission on each trade, it's $1 maintaince fee! Some shameless ones collect even both fees, So either u do very large transactions or watch them sypon d money slowly.....

By d way, wat da u think we dey spend for 9ja? No be naira? Even if u get $$ or stocks U most convert am back to naira to spend for market

Elsueno:


Wetin u dey talk? Am just pissed off d so called local apps are fleecing my hard earned $, if not outrageous $1 to $0.5 commission on each trade, it's $1 maintaince fee! Some shameless ones collect even both fees, So either u do very large transactions or watch them sypon d money slowly.....

By d way, wat da u think we dey spend for 9ja? No be naira? Even if u get $$ or stocks U most convert am back to naira to spend for market

2 parell lines that can't meet. If I make 1k dollars gain convert it to Naija at 826/1$ do the calculations yourself to when u make 1k gain in a local stock. I got quarterly dividend of $0.15 by 4 that is $0.60 covert it to naira at 826/1$ no company can pay such in naira not even Nestle. We are talking of purchasing power here and not mare conversion to naira

Any advice on Kuda stock investment, idea pls?

aremso:


I currently use bamboo but I think gurus in the house will suggest more better options

Thanks

Elsueno:


Wetin u dey talk? Am just pissed off d so called local apps are fleecing my hard earned $, if not outrageous $1 to $0.5 commission on each trade, it's $1 maintaince fee! Some shameless ones collect even both fees, So either u do very large transactions or watch them sypon d money slowly.....

By d way, wat da u think we dey spend for 9ja? No be naira? Even if u get $$ or stocks U most convert am back to naira to spend for market

The fees are super high compared to what obtains in other countries. Maybe soon a platform will come to bail people out.
You pay less than 0.3 percent per year on platform fee on vanguard, and dodl, but these Naija fintech charge you that same amount per transaction. I almost considered opening a competition, but my crude survey showed many Nigerians do not even care about fees and prices. It's like the more they pay the more they feel rich. So might be bad business.

sgtponzihater1:


The fees are super high compared to what obtains in other countries. Maybe soon a platform will come to bail people out.
You pay less than 0.3 percent per year on platform fee on vanguard, and dodl, but these Naija fintech charge you that same amount per transaction. I almost considered opening a competition, but my crude survey showed many Nigerians do not even care about fees and prices. It's like the more they pay the more they feel rich. So might be bad business.

Bro. If we have competitors honestly some one like me will port to such but since we don't have then we make do with what we have on ground. I was telling a friend if I make 2k net profit after their charges am still super ok, to me is a win win in the long run considering the present state of our currency. Il

aremso:


Yes ooo so painful I started late too but thank God is not too late, the current sun shining can still dry clothes. I entered in 2021 but wt misinformation I got I kind of back down but I came back fully after my series of questions and enquiry I came back fully June 28 and thank God am happy I did. Even in less than a Month my small money has given return of 12%. I was just thinking if one invest $5k in 2yrs by God grace one can turn it to 100k and if dollar is 1000/1$ then that is 100m in naira. I bought a stock yesterday it did 50% during trading only to settle at 38% profit taking on it today that is expected but am holding to my target

Oga Aremso, abeg, which stock is that ? Make i follow monitor the stock. I know say e go dey on Bamboo.

henrimoto:
Oga Aremso, abeg, which stock is that ? Make i follow monitor the stock. I know say e go dey on Bamboo.

Na growth stocks I dey buy ooo I don't go for high cap once I check my own criteria and it falls in what I want I go for it. Is RTB. It pulled back yesterday but I think it would move. But your DD is required! I think is currently doing +10%

For those who still wants to do canabis stock check IMCC.

sgtponzihater1:


The fees are super high compared to what obtains in other countries. Maybe soon a platform will come to bail people out.
You pay less than 0.3 percent per year on platform fee on vanguard, and dodl, but these Naija fintech charge you that same amount per transaction. I almost considered opening a competition, but my crude survey showed many Nigerians do not even care about fees and prices. It's like the more they pay the more they feel rich. So might be bad business.

exactly!! it's like they only want high spenders who would like to do buy low & sale high stuff..... some apps charge $1 monthly despite taking commissions on all trades?!!...it's like they want to make it on top thier customers!

Elsueno:


exactly!! it's like they only want high spenders who would like to do buy low & sale high stuff..... some apps charge $1 monthly despite taking commissions on all trades?!!...it's like they want to make it on top thier customers!

I really wish more Nigerians think like you, then things will change. But if many people accept this day time robbery, then these guys will keep using us to cash out.

aremso:


Bro. If we have competitors honestly some one like me will port to such but since we don't have then we make do with what we have on ground. I was telling a friend if I make 2k net profit after their charges am still super ok, to me is a win win in the long run considering the present state of our currency. Il

We make do with what we have for now. Better platforms will come. Some guys started this foreign stock business 4-5 years ago, but I was playing local. Its all good though

sgtponzihater1:


We make do with what we have for now. Better platforms will come. Some guys started this foreign stock business 4-5 years ago, but I was playing local. Its all good though

Same here but all the same we shall look back and have reasons to say thank you Jesus by God grace.

Elsueno:


Wetin u dey talk? Am just pissed off d so called local apps are fleecing my hard earned $, if not outrageous $1 to $0.5 commission on each trade, it's $1 maintaince fee! Some shameless ones collect even both fees, So either u do very large transactions or watch them sypon d money slowly.....

By d way, wat da u think we dey spend for 9ja? No be naira? Even if u get $$ or stocks U most convert am back to naira to spend for market

Those of us that were able...
to open with Trading212 back in the days were lucky...
Nothing as smooth as zero trade commission...

Convert your money to $

aremso:


Na growth stocks I dey buy ooo I don't go for high cap once I check my own criteria and it falls in what I want I go for it. Is RTB. It pulled back yesterday but I think it would move. But your DD is required! I think is currently doing +10%

....please, what's the full name of the stock.... it's not on bamboo

Willie2015:


Those of us that were able...
to open with Trading212 back in the days were lucky...
Nothing as smooth as zero trade commission...

Webull is also a good platform........

henrimoto:
....please, what's the full name of the stock.... it's not on bamboo

Is there Rubicon Technology, currently doing 6%+

henrimoto:
....please, what's the full name of the stock.... it's not on bamboo

Hey sorry is like is RBT and not RTB

For those of us wt small capital, consider growth health stock. U will be glad u did

RBT mad oo gaining 27% even as market dull. Closed at 33.08%

Lexusgs430:


Webull is also a good platform........

Do they accept Nigeria on their platform?

henrimoto:
Do they accept Nigeria on their platform?

I wouldn't know........ I am sure, ways must exist to circumvent............

aremso:


Is there Rubicon Technology, currently doing 6%+

Also recommended by some analyst........

Lexusgs430:


Webull is also a good platform........

Webull is not available for us resident in Naija.

Willie2015:
Webull is not available for us resident in Naija.

Wetin una do all this international brokerages...........🤣😂