If there’s one financial move you should prioritize this year, it’s investing your money. Investing is a proven way to grow wealth, whether your goal is to achieve financial independence or simply make your money work for you. Over time, and with consistency, investments have the potential to compound into significant returns, depending on your risk tolerance and financial objectives.
But let’s be clear—this is not a get-rich-quick scheme. Successful investing requires patience and strategy. And thanks to technology, investing has never been easier. With just your smartphone, you can buy stocks, invest in real estate, and even save in foreign currencies—all from the comfort of your home.
This guide explores the 10 best investing apps for both US and Nigerian stocks, highlighting their features, benefits, and potential drawbacks. These apps offer convenient access to financial markets, making them ideal for beginners and seasoned investors alike.
Why Use Investing Apps?
Gone are the days when investing meant walking into a brokerage firm or dealing with mountains of paperwork. Today, apps bridge the gap between individuals and the stock market, enabling you to invest small amounts like ₦1,000 or $5 and gradually build wealth.
Investing apps act as middlemen, purchasing or selling shares on your behalf. While they charge a commission or processing fee for this service, the convenience and simplicity they offer are unmatched.
One common concern for users is, “What happens to my money if the app shuts down?”
Here’s the good news:
- Most investing apps are regulated by government authorities, such as the Securities and Exchange Commission (SEC) in Nigeria or the Securities Investor Protection Corporation (SIPC) in the US.
- These apps are typically partnered with licensed brokerage firms, ensuring your investments are both insured and protected.
Still unsure? Rest assured that in the unlikely event of a shutdown, these platforms are required to notify users and provide instructions to withdraw funds.
The Best Investing Apps for US & Nigerian Stocks
Here are the top investing apps offering access to both US and Nigerian stocks, ranked based on their features, ease of use, and reliability.
1. Trove
Trove is a beginner-friendly app that lets you invest in US and Nigerian stocks, as well as ETFs (Exchange-Traded Funds). It also offers fixed deposit options for both Naira and Dollar investments with up to 8% interest rates.
Pros:
- Access to both US and Nigerian markets.
- Fixed deposit options available.
Cons:
- Navigation has become less intuitive since the launch of Trove 2.0.
- Registration and verification can be challenging for first-time users.
Recommendation:
For assistance with registration, users can contact Trove’s customer support via email, Instagram, or phone for a smooth onboarding process.
2. Bamboo
Bamboo is a beginner-friendly platform focused on US stocks, ETFs, and REITs (Real Estate Investment Trusts). It is well-regarded for its intuitive design and reliable customer service.
Pros:
- Simple and intuitive interface.
- Excellent customer service.
- Fast deposits and withdrawals.
Cons:
- No option to invest in Nigerian stocks.
- Fixed deposit options are limited to Dollars (8% interest).
Why Choose Bamboo:
With its seamless user experience and excellent customer support, Bamboo is ideal for those seeking a straightforward investing platform.
3. Afrinvest
Afrinvest focuses on Nigerian investment options, including Nigerian stocks, commercial papers, and treasury bills.
Pros:
- Perfect for investors interested in Nigerian assets.
- Licensed as a stock brokerage firm, ensuring a high level of reliability.
- Quick and hassle-free deposits and withdrawals.
Cons:
- Limited to Nigerian investment opportunities.
Who Should Use It:
If you’ve struggled with other apps like Trove, Afrinvest is a reliable alternative.
4. Risevest
Risevest specializes in real estate investments but also provides options for investing in US stocks and saving in Dollars.
Pros:
- Passive investment opportunities in real estate and stocks.
- Dollar savings with interest rates of 8%.
Cons:
- Limited control over individual investments.
Best Use Case:
Risevest is an excellent choice for passive investors seeking exposure to real estate and dollar-based savings.
5. Chipper Cash
Chipper Cash is popular for money transfers, but has significant drawbacks, including poor customer service and high exchange rates.
Cons:
- Slow response times from customer support.
- Refunds for failed transactions take 20–30 days.
Verdict:
Chipper Cash is not recommended for serious investors due to its inefficiencies and lack of reliability.
6. Chaka
Chaka provides access to both Nigerian and US stocks, offering a balanced platform for investors seeking diversified portfolios. Its interface is clean and easy to navigate.
Pros:
- Easy-to-navigate interface.
- Supports investments in both local and international markets.
Recommendation:
Chaka is a reliable choice for those looking for a dual-market investment platform.
7. PiggyVest
Primarily a savings app, PiggyVest also offers low-risk investment options, such as real estate in Naira denominations.
Pros:
- Excellent for savings.
- Flex Dollar savings option with a 7% interest rate.
- Low-risk investment opportunities.
Cons:
- Limited to real estate investments and lacks broader stock market options.
Best Use Case:
PiggyVest is ideal for users prioritizing savings and low-risk investments.
8. Optimus by Afrinvest
Optimus offers a range of investment opportunities, including Nigerian and US stocks, as well as Naira and Dollar mutual funds.
Pros:
- Competitive interest rates (up to 15% for locked Naira funds).
- Backed by a licensed stockbroker.
Cons:
- Lower interest rates for Dollar investments compared to other apps.
Why Choose Optimus:
Optimus provides a mix of high-return savings options and diversified investment opportunities.
9. Cowrywise
Cowrywise is a mutual fund investment app offering options in both Naira and Dollar funds.
Pros:
- Beginner-friendly and simple to use.
- Access to a variety of managed funds.
Cons:
- Limited to mutual fund investments.
Best Use Case:
If you’re looking to invest in managed funds rather than individual stocks, Cowrywise is a great option.
10. Wealth.ng
Wealth.ng offers a broad range of investment opportunities, including Nigerian stocks, Dollar investments, and fixed-income securities.
Pros:
- Wide variety of investment opportunities.
- Beginner-friendly interface.
Why It Stands Out:
Wealth.ng is ideal for investors seeking to diversify across multiple asset classes with a single platform.
Final Thoughts
Investing apps have made wealth-building more accessible and convenient for people worldwide. Whether the goal is to invest in US stocks, Nigerian assets, or diversified mutual funds, there is an app designed to meet those needs.
When choosing an investing app, it’s important to consider features, fees, and the level of support provided. Additionally, ensure the platform is regulated and partnered with licensed brokerage firms to guarantee the safety of your investments.
With this guide, finding the right investing app becomes easier. Research each option thoroughly and select the one that aligns with your financial goals and investment strategy.