Normally, buying and selling stocks in Nigeria would require you to contact a licensed stockbroker who will most likely charge a high fee for services rendered. But because technology is constantly improving, various applications are being developed to ease our everyday life. The move to online trading compared to floor trading continues to increase. Apps designed to allow real time trading of stock are becoming increasingly popular in Nigeria and around the world.
Afrinvest
Afrinvest is one of the leading investment banking firms in Nigeria, with a focus on west Africa. It is active in four principal areas: Securities trading, investment banking, investment research and asset management.
Afrinvest has various account categories including:
- Afrinvest pop account for individuals less than 25years of age, looking to get a head start in the journey to financial freedom
- Afrinvest Groove Account: this is also for young professional, starting a career and looking to save.
- Afrinvest Joint Account allows you to go on an investment journey with a trusted partner. This type of account is suitable for couples.
- Afrinvest Corporate Account allows organizations to preserve capital and earn more revenue.
What you need to open an Account
- You need ZERO naira to open an account
- A passport photograph
- Signature
- Reliable means of identification (ID Card)
To start buying and selling stocks, just fund your account.
Note: The different account types on the Afrinvest platform come with different transaction limits.
Meritrade
Meritrade is a product of Meristem Securities Ltd. It launched its portal and app at the Nigerian stock exchange in 2014.
App features
- With the meritrade app, you can buy and sell shares online in real-time.
- You can trigger to stop loss and set gains limits
- Access to portfolios and cash statements, cash withdrawal can also be done on the app.
- The app gives investors the opportunity to learn the art of investing in the Nigerian stock exchange.
Morgan Capital
Morgan capital iTrade™ was pioneered by MorganCapital Securities Limited in 2014. It allows its customers to directly access the Nigerian Stock Exchange, to buy and sell stocks online, in real-time. Customers also have access to Data and Analytics, all at a brokerage fee of just 0.25%.
MyTradebook
MyTradebook is an online Stock trading platform powered by Greenwich Securities Ltd. The platform allows its customers buy and sell listed shares on the Nigerian Stock Exchange from any location. You can also open an account with a shares certificate. Other documents needed to open an account include:
- Scanned passport photograph
- Scanned Utility Bill
- Scanned Signature and Bank details
Minimum investment: ₦10,000
Trove
Trove Finance is a Nigerian Investment app launched in 2018. The app is a micro-investing solution that allows Nigerians buy and sell stocks on not only the Nigerian Stock Exchange, but in financial securities all over the world. Customers can buy and sell cryptocurrency, shares and invest in bonds around the world.
Minimum investment: ₦1,000
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