Nigeria has always been ahead in terms of online trading in Africa for a very long time in fact it is known as the financial centre of Africa. This African country known as Nigeria is repeatable for owning established financial markets.
One of the major securities market that has been established in Nigeria consists of the Nigeria stock exchange (NSE) and this is the body that handles the officially listed shares, stocks, traded options, government issues, currency options, stock-index options, futures, foreign exchange, gold, metals, silver, and other commodities.
Deregulation and restructuring has caused a transformation in the financial sector of Nigeria within the past 30 years and this includes important changes in the Nigerian stock exchange in sectors like shipping, insurance, banking and commodity markets.
You should also be informed that the organization responsible for the issuance of monetary policy in Nigeria is the Central Bank of Nigeria.
On this page, you will get to find out the best of stockbrokers in Nigeria because these data points that we have collected will enable you get the best matches you need.
however, it is very crucial that you get to know every detail about stock trading in Nigeria before proceeding to know who the brokers are.
It is very obvious that forex trading has grown in popularity in the most populous black nation in the world, Nigeria.
There’s been a massive increase in the number of stock trading in Nigeria over the last 5 years. Did you know that every single day in the world 5.1 trillion US dollars is being traded-in stocks?. This example would show you that there is a huge amount of money being spent in trading and this outnumbers other sectors in the financial market.
There has been improvement and online technology and increased internet coverage here in Nigeria but trading online has become even more accessible due to competition increase among brokerages. This has also led to a reduction in trading costs on a general level.
If you don’t want to know more information about the legality of stock trading in Nigeria then you should know that it is safe and legal. There has been a lot of misconception about trading in the financial market in Nigeria.
Many people said to be unsafe but the truth is it is very safe and active in Nigeria. Stocks trading is also part and parcel of foreign exchange which also deals with importation and exportation also an international investment. however, whenever doing any foreign exchange trading or even stock trading the best thing to do is to pick a reputable stockbroker that is registered and regulated. There are several stockbrokers that offer favorable trading conditions to their clients in Nigeria.
The population and economy of Nigeria is growing massively there are several benefits of stock trading. One of the benefits is that there is an increase in the growing consumer base in relation to the increasing population of the middle class. Nigerian youths has quite a number of people that are very enlightened about the internet and technology. There are also many financial opportunities and business ideas that are currently in Nigeria.
Requirements for a good stockbroker
if you don’t show you check some of these important factors before you select an online stock trading brokerage firm in Nigeria.
Ensure that your Nigerian stockbroker has been active for at least 2 years.
Make sure that your stockbroker in Nigeria has customer support that is at least 15.
Check if your stockbroker is being guided and regulated ordered a stockbrokers jurisdiction which would hold the company accountable and responsible for disputes and misgivings.
Ensure that your Nigerian stockbroker processes withdrawals and deposits in a maximum of three days. This is to avoid stories why trying to withdraw the money that you’ve suffered to make on the platform.
You should also make sure that’s your stockbroker is internationally present and several other foreign countries and also partake in training and local seminar presentations.
Check if your stockbroker has people who can easily communicate with you in your local language. This will tell if they put you into consideration as an important customer.
Features made available by Nigerian stockbrokers
Here are some important features that is required with every stockbroker President in Nigeria. If you want to get on board with a stockbroker ensure they offer these services;
Take a look at the minimum deposit amount in order to create an account.
Check out the hours available funding of payment portals or methods that are made available to brokers in Nigeria.
Find out your extent of trading with each brokerage.
Investigate the kind of trading platforms that are being offered by these stockbrokers.
Take a look at the spread type for each brokerage firm.
Assess and analyze the customer service levels that have been offered.
Observe if a brokerage offers accounts such as standard, micro, VIP, or Islamic.
These are some of the best stock trading platforms in Nigeria.
This is a stock trading platform that offers local investing and global investments. It has easy access to the international stock markets.
The minimum opening balance for the stockbroker is N1000 and it has a wonderful customer support quality.
This stock brokerage is being owned by Meristem securities and it is a secure option for stock trading. You can also easily access it using the mobile app and make your trading from the comfort of your home. It has a minimum opening balance of N10,000. The company has above-average customer service quality.
This is another stock trading farm that is quite different from others in a way that helps you secure your stocks and manage the collection on dividends. In this stock trading platform, there is no minimum opening balance and the customer support is good. This platform is trusted because of the full support and backing from the Sankore Investments which is registered with the Nigerian stock exchange.
This platform is known to be one of the most active stock trading platforms that have free weekly stock recommendations and research that helps guide new investors. they also offer services like dividend management, share certificate management, handling of registrar, and transfer of shares.
The minimum opening balance with this stockbroker is N50000.
The stock trader renders and efficient platform that will allow investors to prioritize low cost. It has a minimum opening balance of N50000 but if you have share certificates will pay N5000 more.