Online investment platforms in Nigeria allow individual investors; experts and beginners alike to save money with the option of investing in securities such as stocks, bonds, mutual funds, and the agricultural sector. The aim of these online investment applications is to offer a hassle-free investment experience in Nigeria.
These online investment platforms afford you the opportunity to earn good returns on idle cash by providing you with an avenue to comfortably send your money on an errand at the comfort of your home, with your phone or laptop.
Online Investment apps are therefore mobile apps that provide a platform for individuals in Nigeria to invest and also track their investments. You need to track the money you invested in order to monitor the progress. Thus, these apps allow you to take control of trading with your phone.
What is investing?
Basically, investing entails putting your money in a financial scheme, real estate, shares, commercial endeavors etc with the expectation of getting additional income or profit. With proper investment, your money will grow and help to improve your standard of living.
No doubt, investing money is a great source of making passive income. As such, investing is a crucial part of building your wealth and there are varying online investment platforms in Nigeria that allows you to invest in almost any asset.
However, to help you select the best of the apps out there, we have compiled a list of the top 10 genuine online investment platforms in Nigeria and hopefully, you would find them very helpful and easy to operate, as well as make a good investment decision. Even at that, the place of further research and due diligence before investing with any of the under listed investment platforms can not be emphasized.
Best online investment platforms in Nigeria 2020
Piggyvest is a savings and Investment platform that allows you to earn an interest while saving. It started out as a purely digital savings company when it was launched on the 7th of January 2016 with the name “Piggybank.ng.”
However, it has been regarded as one of the best investment apps that offers a better interest rate for your savings following their rebranding to PiggyVest in April, 2019.
With this app, you can choose your term of saving which could either be daily, weekly or monthly. You also have an option to lock funds for a set period of time before you are able to withdraw your funds. And during this period, you earn a 13% interest rate over your funds.
More so, it allows people to invest in its mix of investment options. Piggyvest thus offers different savings and investment options like Investify, Safelock, Flex Naira, and Flex dollars.
How To Get Started With PiggyVest
• Visit the website or download the app to create an account
• Set up your withdrawal account details
• Enter your debit card details to activate your account and make your first deposit
Carbon is generally known as one of the best quick loan apps for individuals. However, they also have an investment app called PayVest, that allows you to invest and earn a profit over a period of time.
PayVest is thus an investment app that allows you to earn up to 16% annually on investments that range between 10,000 – 10,000,000 naira
owned by Carbon and allows you to invest between Ten thousand naira to Ten million naira and earn up to a 16% interest.
You can access Carbon through its website or the app available on the App Store or PlayStore. The app allows you to track your investment and spendings right from your dashboard.
The parent company which is known as GetCarbon, is a full-grown finance company that has other products from which you can benefit from.
How To Get Started With Carbon
• Download the Carbon App on Google Playstore
• Create An Account
• Start investing
Cowrywise is a financial technology company that offers a fixed savings plan that allows you to put away a lump sum for long periods. It also allows you to invest in mutual funds and earn by compound interest.
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With over 20years experience, CowryWise affords you the opportunity to invest in low, medium and high-risk investments. Some of these investments include Nigerian Eurobond, Mutual funds and other money market securities provided by third parties.
Cowrywise, being more of a savings app than an investment app also helps you to get an interest through a savings account. Thus, with as little as N100 you can start saving on Cowrywise platform.
The platform is therefore suitable for anyone who wants to save and invest even while they are asleep. With their investment plan, you can be sure to make up to 15% per annum.
How To Get Started With Cowrywise
Visit their website or Google playstore to download the Cowrywise App
• Register on the platform
• Pick your preferred plan
• Start saving and investing
I-invest is a unique online investment platform that affords you the opportunity to securely purchase and manage treasury bills from your Mobile device – treasury bills being one of the few risk-free investments that exist
The I-invest app was launched by a pan African inter-brokerage service firm in partnership with Sterling Bank Plc. It is specially made for budding and experienced investors to purchase securities and treasury-related instruments on their own, without having to go through an investor. However, you can only buy and sell treasury bills on the platform for now, more instruments will be added subsequently.
More so, you can save money and earn attractive interest rates that ranges between to 8-11% on the platform. The minimum investment amount however is a hundred thousand Naira (N100,000). Both the investment capital and interest is paid to your account upon maturity.
How To Get Started With I-invest
• Download the I-invest app on i-investng.com or Google play
• Register on the platform
• Log into your account
• Start investing
5.) Payday Investor by ARM
The Payday investor is an online investment platform powered by ARM, a Nigerian wealth management company. It is thus another investing app that helps you earn interest on your funds on a periodic basis.
The platform is designed to help users save automatically, the savings is then invested in any of their mutual funds for higher returns.
With this online investment platform in Nigeria, you choose when and how you want to invest. You can as well invest on this platform with as little as 1,000 Naira and your investments are automated. In addition, your dividends are not taxed.
The investment platform is more of a bank-type model, it allows you to save your money towards a goal and still earn good returns on investment.
How To Get Started With PayDay Investor
• Download the PayDay Investor App on Google Playstore
• Create an account
• Set up an investment plan and funding options
• Manage your investments and start earning interest in 24 hours
Trove is an online investment app that affords you the opportunity to invest in US, Chinese and Nigerian Stocks, Government Bonds and more from wherever you are in Nigeria.
Before now, investing in US stocks from Nigeria was nearly impossible but thanks to the advancement in technology. Trove thus allows you the luxury of investing in such with as little as N1,000 Naira through their app.
The app is relatively easy to use and has tools that allows you keep track of your investments even while in bed. You also get investment tips and educational information that helps to widen your scope as an Investor.
More so, Trove utilizes bank-level security measures to protect your personal information, so you can put in your information and go to sleep.
How To Get Started With Trove
• Download the “Trove” app on the Google Play Store or Apple App Store
• Complete the KYC process to begin investing.
• Buy any publicly traded equity, bond or foreign assets
7.) Alat by Wema
ALAT is a full digital banking app powered by Wema Bank. Using your mobile phone, you can open an account and start an automated savings programme that pays you up to 10 percent annum, 3 times what the bank pays its regular saving account customers.
Alat by Wema is renowned as Nigeria’s first digital bank designed to democratize banking services and make it accessible to all. With ALAT, you can thus open an account in less than five minutes. With this app, saving is automated thereby making the whole process alot easier.
How To Get Started With Alat by Wema
• Download the app on Google Playstore
• Sign up using your BVN and Phone Number
• Upload your photograph and Signature
• Set up Your ALAT Pin
• Start Saving and Investing
8.) FBN Edge
As the name implies, FBN Edge app gives client an edge in investing and also helps them meet their financial goals. It is no doubt one of the best mutual funds investment app that simplifies investing and makes tracking your investment very easier.
The FBN Edge mobile app is owned by FBNQuest Asset Management, a subsidiary of First Bank of Nigeria.
On the FBN Edge app, you can easily perform the following ;
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• Open a mutual fund account as a new customer
• Sign-up easily as an existing customer
• Top-up existing mutual fund accounts
• Purchase new mutual funds
• Redeem funds from existing mutual fund accounts
• View balances in real-time
• View your transaction history
Wealth.ng app is a self-service investment platform that makes it easy for users to invest in Treasury Bills, Stocks, Mutual Funds, and Real Estate and monitor their portfolio in real-time..
Wealth.ng is an affiliate of Sankore Securities Limited, and it is registered with the Nigerian Stock Exchange and regulated by the Securities and Exchange Commission (SEC), Nigeria.
• Offers a variety of investment plans (treasury bills, eurobonds, real estate and Agricultural investment)
• The minimum investment duration is 30 days
• Wealth.ng is absolutely free and does not require any fee
• Offers a white-glove account feature that enables you to hand-over control to Wealth.ng to make decisions for you.
• Has a wealth TV channel where they educate people on personal finance.
Bamboo is one of the investing apps in Nigeria that helps you buy and sell hundreds of Nigerian and U.S. stocks with as little as $20. Thus, you can buy, hold, or sell foreign and local stocks on the Bamboo platform right from your mobile phone.
Bamboo is fully launched in Nigeria as one of the best investment apps in the country and hopes to spread out to other African countries too. The Bamboo platform has over 3500 stocks listed on the Nigerian stock exchange and U.S. stock exchange which you have unrestricted access to as a user.
Interestingly, Bamboo is a member of the Nigeria Securities Exchange Commission (SEC), and the U.S. Securities Investor Protector Corporation (SIPC), so your securities are insured up to $500,000 with the SIPC.
How To Get Started With Bamboo
• Download the Bamboo App on App Store or Google Playstore
• Create an account
• Choose from hundreds of Nigerian and US stocks
• Fund your Naira and Dollar account and start buying and selling shares
A glance through our list of top 10 genuine online investment platforms in Nigeria reveals that we have different apps with varying investment plans. It is not just enough to plan on investing your money, you need to arm yourself with the right investment app and that’s the intent of this article.
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