Do you have some cash and looking for the best stock trading apps in Nigeria to put your money this 2021?
Well, in this article, we will be listing the 7 best stock trading apps in Nigeria in 2021.
Bamboo
Founders: Yanmo Omorogbe and Richmond Bassey.
Founded: 2019
This is one stock trading platform that allows Nigerians to buy shares in foreign stocks.
You can access more than 3,000 stocks on the Nigerian stock exchange and the US stock exchange.
Fees and other services
Works on: iOS and Android.
Payment: Visa, Mastercard and Verve cards from a Nigerian bank.
Minimum investment: $20
Meritrade
Founder: Meristem Securities Limited
Founded (incorporated): 2014
Incorporated in 2014 under the umbrella of Meristem Securities Limited, this is another trading platform that allows users to trade from the comfort of their home, buying and selling stocks.
Its parent company Meristem Stockbrokers Limited is a member of the Nigerian Stock Exchange (NSE).
Fees and other services
Works on: iOS and Android.
Minimum opening balance: N10,000
Brokerage fees, both buying and selling: 1.35 percent.
Chaka
Founder: Tosin Osibodu
Founded: 2019
After observing the stock market, the founder of the app decided that he would make buying stock trades easier for Nigerians.
Chaka ensures that Nigerians and Nigerian companies get access to both local and global stock markets.
Stocks are available in dollar and naira.
Fees and other services
Works on: Android
Minimum opening balance: N1,000 or $10.
Brokerage fees:
Local: 0.5 percent
Global: 1 percent.
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Trove
Founders: Oluwatomi Solanke
Founded: 2018
Started alongside former classmate Austin Akagu, the platform gives Nigerians access to domestically listed companies and companies in the United States.
Apart from trading US stocks, the platform provides a gamut of services including government bonds, cryptocurrencies, mutual funds, and you can also buy shares in publicly-traded Chinese companies.
Fees and other services
Works on: Android and iOS
Minimum opening balance: N1,000
Brokerage fees:
Local stocks: 1.35 percent
Global stocks: 1 percent.
LeadTrader
Founder: Lead Securities & Investment Limited
Founded: 2014
It was launched by Lead Securities & Investment, a securities trading company that was registered with the Security Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) in 1987.
LeadTrader allows users to buy and sell securities, and allows you to fund your broking accounts with your debit card.
Fees and other services
Works on: Android and iOS
Fee: Accepts a minimum of N50,000 initial deposits or a share certificate of N20,000.
Brokerage fees: 0.75 percent.
ArmStocktrade
Founder: ARM Group
Founded: 2004
Works on: Android and iOS
This is a full-service brokerage firm that provides brokerage services (an intermediary between an investor and a securities exchange).
ARM is a member of the Nigeria Stock Exchange (NSE) and it provides its services to local and foreign and institutional investors.
Minimum initial deposit: N50,000
Brokerage fee: 1 percent on executed transactions.
Stanbic IBTC e-Trade
Founder: Standard Bank Group
Founded: 2016
On this trading platform, you get to trade in real-time, so that you can adapt to market changes as events unfold.
Works on: Android
Minimum initial deposit: N5,000,000
Brokerage Fee: 1 percent.
