With the lockdowns in 2020 and the continued uncertainty around the pandemic, many more people are discovering new ways to make money online from the comfort of their homes. It is no surprise that interest in cryptocurrency, forex, and stock trading continues to increase like never before.
Cryptocurrencies like Bitcoin have shown that there is a lot of potential in Blockchain technology with the global stock market also experience record high returns in 2020.
At the start of the pandemic and lockdowns in 2020, I took it upon myself to research stock marketing and crypto investing. This drive was further encouraged when my elder brother reached out to discuss US stock market investing and Crypto. It felt like he could read me pretty well. The rest is history.
I had reached out to several well-known foreign stock trading platforms directly but got the same response every time.
They are not open to sign-ups by Nigerians in Nigeria. And yes, I’m currently in Nigeria so I can’t use platforms like TD Ameritrade, Webull, Robinhood to trade the US or other foreign stocks. It was disappointing because these are some of the best platforms globally to trade with. And using a VPN wasn’t an option for me.
Nigerians in Nigeria don’t have access to a lot of online money-making opportunities that exist today. It’s amazing how many still go on to do great things for themselves online and I’m not talking about the fraudsters. Those are in the minority.
One thing I have learned over time is that when the going gets tough, you have to get tougher. We never give up or quit. We must continue to find ways to advance. In a bid to find a top-notch platform to trade US stocks while in Nigeria, I found the 4 platforms below;
I went on to sign up with the first 3. I am not even sure why I never got to check out the last one, Wealth.ng. I just might someday soon. I also recently signed up for Passfolio. However, I have not tried trading on their platform yet. Once I do, I will definitely share my experience with you.
I currently trade for a few people with Bamboo and then I use Trove for my personal trading account. This is just to avoid confusion. Although, I would advise that you use more than one trading account if you are serious about stock investing.
I did try to set up an account with Chaka but the initial steps for registration kind of put me off. Based on my experience with both Bamboo and Trove, I would say they are both very user-friendly. They also both have a lot of stock options including but not limited to Chinese and South American stocks.
But one thing that really stood out for me with Trove is the fact that you get 5 free Dangote Sugar or GT bank stocks when you invite someone to use their app. The person you invite also gets the same after he or she is verified and makes a trading deposit.
No matter how many people you invite to use Bamboo, you get nothing. Nothing even a thank you message. Well, I think it’s something they should look into.
Want to try Trove? You can sign up today using the link below. You will get 5 shares of either Dangote Sugar or GT Bank if you use our referral code: LTHJ8K
I know someone out there is reading this and saying ‘why should I trade the US stock market?’
There are some good reasons why you should especially right now. Below are some of the reasons you should see this as an opportunity worth jumping on.
1. You have an opportunity to make passive income as you will continue to make money if the share price of a company shares you own continues to increase over time.
2. The stock market, especially the US stock market, has had its ups and downs but overall it has been very lucrative for decades for many.
3. If you invest in dividend stocks, you earn dividends periodically aside from money earned from an increase in the prices of stock you own. Not all stocks offer dividends though.
4. Stock investing does not have to be your full-time hustle but it can serve as a way to diversify your investment portfolio. For example, let’s say you are a model, you make money from modeling and put the money in a savings account. It’s not yielding anything for you and there is no guarantee that the money would be of the same value and not lower in the months ahead.
But then, imagine taking that money and investing it in the stock market, the money works for you as it continues to increase as long as the price of the stock continues to go up. And all of these you can run yourself today, thanks to growth in the technology that has birthed the above-mentioned platforms and more.
If you have anything to add or have questions please feel free to relate in the comment section. Never stop getting it.