How To Buy Foreign Stock In Nigeria

Buying and selling publicly traded shares of foreign companies used to be so difficult in Nigeria until the intervention of technology.

Technically, to be able to trade foreign stock a Nigerian investor needs to have at least two confirmed accounts; a domiciliary account, plus a foreign brokerage account. All these processes require a lot of time, and documentation before one can actually make international investments from Nigeria.

However, the situation is more improved now with technology. Some fintech companies have made it possible to buy foreign stock in Nigeria using either a SmartPhone or computer, all at the click of a button.

Why should you buy foreign stock from a digital investment company?

These internet-based firms provide a safe, secure payment and investment portal for investors. The best part is, they are each registered with the CAC, licensed and regulated by the Nigerian Stock Exchange (NSE) and SEC. 

Buying stock through any of these platforms will protect an investor from fraudulent online brokerage firms, money transfer issues, and overseas taxation issues. In addition to these, there are other country-specific requirements such as getting a valid US visa/green card before trading in the United States’ capital market. 

Also, they provide a seamless process to manage stock portfolio and withdraw dividends.

Legitimate platforms to trade foreign stock in Nigeria

So how can you buy foreign stock in Nigeria?

Here are 6 legitimate platforms you can trade foreign stock right now in Nigeria.

1. Trove

Trove is one of the best-performing apps to buy foreign stock in Nigeria. The company allows people to invest in US, Chinese, local Nigerian stocks, ETFs, and bonds with as little as $10 or 1000 NGN. 

The investment platform offers Nigerians global access to a wide variety of high-quality stocks from big companies like Amazon, Google, Apple, Facebook, and Netflix Their goal is to support micro-investing.

How to invest using the Trove app:

  • Download the Trove app from Google play store or appstore for Android and iOS users respectively. You can also register via
  • Sign up with your email address.
  • Set a strong password.
  • Answer a series of questions about your investment background and click submit.
  • Complete your profile by filling in your:
  •  Personal information 
  • National and residential information
  • Occupation and next of kin
  • Bank account details
  • Document uploads 
  • The documents will include a valid I.D, utility bill like electricity bill, a photo of your signature and a selfie of your face 
  • Next step is to fund your wallet. There are two wallets: a naira wallet which is used to buy Nigerian stock and bonds. While the Dollar wallet is for funding international transactions. This feature is unavailable at the moment, though. You can only fund your dollar wallet using the naira equivalent.
  • Begin trading after your account gets verified .

2. Risevest

Risevest provides a platform for digital experts to invest and manage user’s investment portfolio for them. This is an opportunity to have the best world-class stock selected to your portfolio by skilled experts. 

The selection is based on observed long-term performance metrics and earning power. Also, Risevest offers three investment classes for investors: fixed income (pays fixed amount of interest for a stipulated period. Which is good for people with low-risk tolerance), real estate and stock investments.

The minimum amount for investing is $10. Risevest charges a management fee on the percentage of returns earned.

How to buy stock on Risevest app:

  • Download risevest app or sign up on their website via
  • Sign up with your email
  • Complete personal information form
  • Go to ‘account’ to update your ID verification
  • Add your BVN under ‘bank and cards’ section.
  • Fund your wallet.
  • Subscribe to an investment portfolio option under ‘create plan’.

3. is a one-stop-hub for buying foreign stock and other investment assets in Nigeria. Apart from stocks the platform offers other investment products such as treasury bills, mutual funds, agriculture and real estate investments. Investors can also trade EFTs, REITs, local and foreign stocks on

How to invest on

  • Download the app from your Google playstore or iOS appstore. The website is another signup option,
  • Sign up and verify your account information.
  • Update your profile information and upload verification documents under ‘KYC’.
  • Verify your BVN
  • Complete the financial information section.
  • Fund your digital wallet.
  • Go to investment tab, click ‘buy’ on any product you want to invest in. It will be added to your cart, next go to checkout and pay.

4. Passfolio

This is another secure way to invest in foreign stock in Nigeria. Based in San-Francisco, U.S.A, Passfolio grants up to 170 countries the chance to invest in high-class U.S stocks, ETFs, REITs, and USD using their local currency. 

One benefit of Passfolio is that users have a variety of payment options to choose from. The fintech does not charge commission fees on stock trading.

Is Passfolio legit?

Yes, Passfolio is regulated by the U.S security and exchange commission (SEC), also a member of both the financial industry regulatory authority (FINRA) and securities investor protection corporation (SIPC). 

How to invest using Passfolio:

  • Download the app or sign up on the website 
  • Complete the ‘investor’s profile’ section.
  • Submit your BVN and verification documents.
  • Your account gets approved within 24 hours.
  • In case of discrepancies you might be asked to submit further documents before your account gets approved.
  • Deposit funds in your wallet under ‘transfer’ option.
  • Invest in U.S stocks from ‘trade’ tab.

What are the requirements to create a Passfolio account?

  • You must be 18 years old or older
  • Must have a valid address in your name
  • Must have a legal means of identification

5. Bamboo invest

Bamboo Provides real-time access to buy from over 3000 stocks and ETFs listed on the U.S capital market. Trading begins from $20 on Bamboo.

How to invest on Bamboo app:

  • Download the Bamboo app or register on the website
  • Sign up using your email and phone number 
  • Update your investment profile 
  • Submit an identification document or BVN to verify your identity.
  • Fund your account with at least $20.
  • Start trading and manage your investment portfolio via bamboo app.

6. Chaka

 Chaka is a legit online investment platform that grants Nigerian investors access to buy foreign stock from more than 40+ countries. The digital investment platform also allows foreigners to invest in Nigerian stock.

How to buy stock on Chaka app:

  • Download app on Google playstore for Android devices or use the web version 
  • Sign up with your details 
  • Verify your identification with either BVN or bank details 
  • Fund your wallet
  • Choose a stock portfolio to invest or use the smartinvest feature.

In conclusion

Buying foreign stock in Nigeria has never been more easier. These technology platforms have paved the way for Nigerians to buy, sell and hold foreign stocks using a tech-enabled device and from the comfort of their homes. 

No need for exhaustive documentation, cross-border transaction policies or heavy tax protocols anymore. With any of the platforms listed above, an investor can be sure their money is in safe hands. 

At first, It is advisable to try your hands on one investment platform at a time instead of going all in. You can start with a little money to figure out which app works best for you and try to stick to it.

As with all investments, there will be risks attached but be wise to know your long-term investment goals and don’t put your money into sloppy-looking companies.

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Joy Gabriel

Joy Gabriel

Joy Gabriel is a business strategist and content creator for Her passion is creating solutions to entrepreneurship problems. She loves to read and teach others whenever she's not working.

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