Investment platforms popular among Nigerians for domestic stock trading in the year 2025
Investing in Nigeria's thriving market has never been easier, thanks to a variety of user-friendly apps that offer access to both local and foreign assets. Here's a rundown of some popular investment apps and their key features.
Bamboo
Bamboo is a versatile app that provides access to U.S. ETFs and stocks, as well as Nigerian stocks. It offers NGN and USD wallets, fractional shares purchase, auto-logout, PIN re-entry, and SIPC insurance. The minimum deposit to start investing with fractional shares can be as low as $1, while some reports mention starting from $20. Bamboo charges a 1.5% fee per trade, a ₦100 deposit fee for deposits under ₦10,000, and $1 per stock transaction.
Trove
Trove is another app that caters to both local and international investors. It allows users to invest in Nigerian companies like MTN and GTBank, as well as international stocks from one app. The app supports fractional investing, ETFs, mutual funds, and government bonds.
Chaka
Chaka is another app that serves a dual market, offering access to both Nigerian and U.S. stocks. It boasts a user-friendly interface but does not specify a minimum deposit.
RiseVest
RiseVest targets dollar investors, offering access to diversified foreign assets. It charges an annual management fee.
Cowrywise
Cowrywise is a popular choice for those seeking low minimums. It provides easy dollar and naira investments with systematic investment plans, automated investing, and a savings option in dollars. The minimum deposit for dollar savings is ₦1,000 (~$10).
Meritrade
Meritrade gives direct access to Nigerian stocks and ETFs through Meristem Stockbrokers Limited. The minimum deposit details are not clearly stated.
i-invest
i-invest offers a straightforward Nigerian market focus, with no extra charges besides statutory 10% withholding tax on dividends. It is licensed by the Nigerian SEC.
InvestNaija
Powered by Chapel Hill Denham Securities, InvestNaija offers a clean, beginner-friendly interface and gives regulatory backing. It focuses on Nigerian assets, making it ideal for users looking to stay within the local market while benefiting from structured, long-term planning tools.
CardinalStone
CardinalStone is one of the more established names among Nigerian investment firms with a strong reputation in equities. Its Trade Direct platform provides real-time market access and execution for Nigerian stocks. CardinalStone's Money Market Fund requires a minimum investment of 100,000 units and may be priced higher than other entry-level funds. The app also offers tailored services such as dividend revalidation, share transfers, and margin trading for experienced investors.
ARM One
ARM One is designed for users who want straightforward investing and clear insights. It simplifies investing in Nigerian stocks and mutual funds, providing real-time stock recommendations and a single dashboard for managing investments.
Optimus by Afrinvest
Optimus by Afrinvest allows users to invest in Nigerian and U.S. stocks, mutual funds, Treasury bills, Eurobonds, and fixed income products.
It's worth noting that retail investors account for over 70% of trading volumes on the Nigerian Exchange. With these apps, investing in Nigeria's bustling market has never been more accessible.
[1]: Source for Bamboo information [3]: Source for Trove information [4]: Source for Chaka information [5]: Source for RiseVest information
Technology plays a significant role in these investment apps, making it easier for investors to access both local and foreign assets within Nigeria. Bamboo, Trove, Chaka, and Optimus by Afrinvest all utilize technology to offer various investments such as stocks, ETFs, mutual funds, and government bonds. Furthermore, technology enables features like fractional shares purchase, auto-logout, and user-friendly interfaces that cater to both experienced and beginner investors.
