What's the news on HEXO? it's doing almost 300% in pre-mkt

jajeri3216:



Having tried all of them ,t212 is the best for trading, limited ETFs and difficult to fund.

Passfolio is the best for funding , fees , but has teething issues (a lot), mostly ux and functions.

All in I've settled with t212 for fast trades and passfolio for long term.

One key advantage of passfolio for long term, less fees and you can withdraw in dollars even if you deposited in naira, which isn't an option on trove, bamboo and chaka.

You nailed it for Passfolio.
Plus it takes a days(1-2 working days) for funds to settle both following a transfer and after selling stocks.
I've also observed they charge some little commission if one is buying stocks beow $5.
Generally, it's ok, especially when combined with Trove or T212 for quick trading.

.

kenneth6901:
Do "passfolio" have large variety of stocks mostly of penny stocks as T212 , cos thats the major reason why I want to have an alternative to Bamboo?

T212 is the best for penny stocks. It's almost impossible to trade on passfolio, so definitely not recommended.

Between passfolio and trove for investing , i prefer passfolio . Similar stocks , but better fees.

fredugo:
What's the news on HEXO? it's doing almost 300% in pre-mkt

They did a reverse split yesterday.

jajeri3216:



Having tried all of them ,t212 is the best for trading, limited ETFs and difficult to fund.

Passfolio is the best for funding , fees , but has teething issues (a lot), mostly ux and functions.

All in I've settled with t212 for fast trades and passfolio for long term.

One key advantage of passfolio for long term, less fees and you can withdraw in dollars even if you deposited in naira, which isn't an option on trove, bamboo and chaka.

Thnaks for the post I don't intend to trade my goal is long term investments in broad based etf using dollar cost averaging. My concern with Passfolio is the US dividend and estate tax. The former allows 30% of dividends accruing to your portfolio to be withheld if they are coming from US based companies or fund like US domiciled etf. The latter is even more draconian, if you have the audacity to die the US would confiscate 40% of your portfolio assets including cash with your broker. This is why I am considering Trade 212. I am still studying their tax laws for the US.

bigrovar:


Thnaks for the post I don't intend to trade my goal is long term investments in broad based etf using dollar cost averaging. My concern with Passfolio is the US dividend and estate tax. The former allows 30% of dividends accruing to your portfolio to be withheld if they are coming from US based companies or fund like US domiciled etf. The latter is even more draconian, if you have the audacity to die the US would confiscate 40% of your portfolio assets including cash with your broker. This is why I am considering Trade 212. I am still studying their tax laws for the US.

Isn't that based on where you're domiciled?, like you have to be resident in the us for this to apply.

As for the dividend tax , as far as I know , it's deductible before payment on all platforms, the capital gains tax is based on the tax laws applicable where you reside and not dependent on the broker.

I could be wrong!

This thing can be sweet sha oh.
Just logged in to T212 and was greeted with a dividend in one of the stocks in my portfolio.

Earning USD for 9ja sweet like caramel ice cream oh.

Day traders see what you can make out of this.

OCGN
UAVS.
Good luck.

jajeri3216:


Isn't that based on where you're domiciled?, like you have to be resident in the us for this to apply.

As for the dividend tax , as far as I know , it's deductible before payment on all platforms, the capital gains tax is based on the tax laws applicable where you reside and not dependent on the broker.

I could be wrong!

This is tax applicable to "non residential alien" to the US. And yes it depends on your location but to the extent if your country of residence has an income and estate tax treaty with the US. On SA and I think Egypt has this in Africa. The tax is meant for non US citizens residing outside the US.

bigrovar:


This is tax applicable to "non residential alien" to the US. And yes it depends on your location but to the extent if your country of residence has an income and estate tax treaty with the US. On SA and I think Egypt has this in Africa. The tax is meant for non US citizens residing outside the US.

Check this link, confirms my previous comment

https://www.investopedia.com/ask/answers/06/nonusresidenttax.asp

pcguru1:


I did the same and I was still rejected, did you add Lagos and Nigeria to it ??

hmmm what bank statement did you use?

jajeri3216:


You guys don't listen to good advice.

I'll try and help you, hopefully you'll trust this advice.


Go on telegram, search for (Bamboo, chaka, wealth hackers, stock pickers) group's.


Join them, lot's of information flowing through.

This thread isn't the best way.

Very true,

Detailed analysis

80-90% accuracy
But this their mentoring club they are shouting,

Iamblessed007:
Some of us are new here o...great work you all doing. For those of us abroad, any advice for us? I am in canada and I would like to start this trading and investing in stocks. Can the 212trading work for us who are not in Nigeria?

Troove is your best bet

Kennyking1234:
hmmm what bank statement did you use?

Zenith Bank PDF Statement both Printed from the bank and online

bigrovar:
Have anyone here tried passfolio? There are a US based broker regulated by US SEC and member of FINRA, SIPC. They offer commission free trading and have some of the fastest Onboarding process (of all the trading apps) all they require is your BVN (I think they work with Flutterwave to resolve BVN) and that is all the KYC required. no passport or address verification nonsense.
The use drivewealth as their brokerage clearing house so they have all the ETFs and stocks available to bamboo and trove. Drivewealth is also member of FINRA and SIPC and are US SEC regulated.

They allow for bank transfer from a dom and you can transfer naira to them. They have integration with wema bank which they use for naira dollar transfer.

For now it is app only but their online wen trading platform is being worked on.

I only just discovered them but so far I have been impressed.

No, I haven't tried Passfolio. do they have an app?

Leezah:
Troove is your best bet

Impossible . Trove forex fees are ridiculously high, plus additional trading fee.

Let's not mislead people.

Exchanging 4,770,000 Naira.

jajeri3216:


Impossible . Trove forex fees are ridiculously high, plus additional trading fee.

Let's not mislead people.

Exchanging 4,770,000 Naira.

When I deposited it was 387

ChybuzzDD:


You nailed it for Passfolio.
Plus it takes a days(1-2 working days) for funds to settle both following a transfer and after selling stocks.
I've also observed they charge some little commission if one is buying stocks beow $5.
Generally, it's ok, especially when combined with Trove or T212 for quick trading.

.

do they have as much stock on their platform as 212? Cos when some one said drive wealth is their partner, I fear they may have the same limitations like bamboo and Chaka where 80% of the stocks are missing. That's d misery am going through right now.

Kennyking1234:
hmmm what bank statement did you use?

Okay so curious one how did you input the address e.g First line of address, second line of address etc I pasted the same address twice in both fields and was still rejected but my babe wants to register so I don't want to have issues with hers. Thanks

OakPearl:
Day traders see what you can make out of this.

OCGN
UAVS.
Good luck.

Thanks sir
OCGN did Christmas bonus...over 200%

pcguru1:


Okay so curious one how did you input the address e.g First line of address, second line of address etc I pasted the same address twice in both fields and was still rejected but my babe wants to register so I don't want to have issues with hers. Thanks

damn why the hell are they rejecting you

OGEN sold 8k shares

Jotrade:
Swing 10k shares on OGEN at $0.44

jajeri3216:



Having tried all of them ,t212 is the best for trading, limited ETFs and difficult to fund.

Passfolio is the best for funding , fees , but has teething issues (a lot), mostly ux and functions.

All in I've settled with t212 for fast trades and passfolio for long term.

One key advantage of passfolio for long term, less fees and you can withdraw in dollars even if you deposited in naira, which isn't an option on trove, bamboo and chaka.

Pls, Can u clarify on what u mean by "Mostly ux and functions?"
Thanks

OakPearl:
Day traders see what you can make out of this.

OCGN
UAVS.
Good luck.

Still good to buy?

stokfrick:


Pls, Can u clarify on what u mean by "Mostly ux and functions?"
Thanks

The search, favourite buttons don't work properly, the stock ordering flow doesn't make sense, you can't amend a limit order, which means you have to cancel before re ordering, app is slow and unresponsive, bugs with portfolio returns calculation etc

Simple fix for all these issues, once done it'll be the best.

If you're a newbie, use this link for your buy and sell signals.

Just type your stock ticker, it'll will tell you whether to buy or sell , pretty accurate.

Note it also changes fast.

Remember there's no guru in trading, so stop the yes sir/ma mentality.

With experience you'll improve.

https://www.tradingview.com

jajeri3216:



Check this link, confirms my previous comment

https://www.investopedia.com/ask/answers/06/nonusresidenttax.asp

Did you actually read what your posted.? Capital gains =! Dividends. Capital gains are not taxed. what is taxed are dividends from a US company and 30% of that is withheld by your broker. How is what you posted different from what I have been saying unless am missing something.

bigrovar:

Did you actually read what your posted.? Capital gains =! Dividends. Capital gains are not taxed. what is taxed are dividends from a US company and 30% of that is withheld by your broker. How is what you posted different from what I have been saying unless am missing something.

Read what you wrote, this is what I responded to.

Cgt is a taxable income dependent on the tax law's where you're domiciled, dividends are strictly taxed regardless.

jajeri3216:


Read what you wrote, this is what I responded to.

Cgt is a taxable income dependent on the tax law's where you're domiciled, dividends are strictly taxed regardless.

Capital gains on stocks are not taxed under us tax laws irrespective of residency or location. Only dividends and the amount deducted is dependent on your country of residence and if they have a subsisting income tax treaty with the US. Otherwise withholding tax is a flat rate of 30% of dividends.

The estate tax applies to all non residents alien (unless again your country of residence as an estate tax treaty with the US) if not, you are subject to it and should you die while holding US stocks 40% of your assets in with a US broker would be confiscated. Including cash deposit with the broker.

bigrovar:

Capital gains on stocks are not taxed under us tax laws irrespective of residency or location. Only dividends and the amount deducted is dependent on your country of residence and if they have a subsisting income tax treaty with the US. Otherwise withholding tax is a flat rate of 30% of dividends.

The estate tax applies to all non residents alien (unless again your country of residence as an estate tax treaty with the US) if not, you are subject to it and should you die while holding US stocks 40% of your assets in with a US broker would be confiscated. Including cash deposit with the broker.

That's new to me,never knew capital gains tax was exempt anywhere in the world.

Looks like you're confusing estate tax with cgt.

bigrovar:

Capital gains on stocks are not taxed under us tax laws irrespective of residency or location. Only dividends and the amount deducted is dependent on your country of residence and if they have a subsisting income tax treaty with the US. Otherwise withholding tax is a flat rate of 30% of dividends.

The estate tax applies to all non residents alien (unless again your country of residence as an estate tax treaty with the US) if not, you are subject to it and should you die while holding US stocks 40% of your assets in with a US broker would be confiscated. Including cash deposit with the broker.

One more

jajeri3216:


One more

Capital gain tax is exempted For non US residence aliens irrespective of where they live or reside (as long as it is not in the US) withholding tax on dividends is what varies from country to country depending on the tax treaty country of residence has with the US. The same thing for estate tax. Everything I have been talking about relates to non US residence alien. ie you are not a US citizen (or permanent residence) and you don't live in the US.