Seven apps Nigerians are using to invest in local stocks in 2025

With the naira down over 70% since mid-2023 and inflation still eating into savings, more Nigerians are turning to investing as a way to protect and grow their money. Headline inflation slowed to 22.22% in June, but that “relief” is mostly statistical—food prices are still climbing, and real economic pressure hasn’t eased.

At the same time, retail investors are becoming a force, accounting for over 70% of trading volumes on the Nigerian Exchange. And fintech apps have made it easier than ever to buy stocks, save in dollars, or build a portfolio.

The challenge now isn’t just whether to invest, it’s where to start. With dozens of apps promising easy access, how do you choose one that fits?

In this guide, we break it down with help from two finance insiders: Peter Oke, Personal finance tutor and Retail investor Tobi Nasiru*, who’s been navigating these platforms firsthand. 

Together, they walk us through the apps they trust, the red flags to watch for, and the strategies they recommend for Nigerians investing from home.

× Sponsored

Quick Snapshot of top investment apps 

• Trove: Local + foreign, fast updates, responsive support
• Bamboo: Good UI, U.S. stocks, real-time trading features
• Meritrade: Backed by brokerage, sends regular insights
• Cardinalstone, ARMOne: Effective, unpopular
• InvestNaija, Optimus.ng: Budget-friendly, newer entrants

Before you download any app, understand what you’re investing in

We could assume you already know the 101s of investing before researching which app to use. But if you’re here because everyone around you seems to be making money moves, here’s what you should know first.

When people think about building wealth, they often land on three popular options: stocks, ETFs, and mutual funds.

Stocks give you a small slice of ownership in a company. If the company performs well, so does your investment. But the flip side is real—if the company dips, so do you. Returns come from price gains (capital gains) and sometimes dividends. Stocks offer higher potential returns but also the highest risk. You’ll need time, research, and emotional discipline.

Mutual funds and ETFs are bundles of investments, managed by professionals. They spread your money across many assets, helping lower risk. Mutual funds are priced once daily; ETFs trade like stocks throughout the day.

Funds come in two types:

• Active funds aim to beat the market but charge higher fees.
• Passive funds track indexes like the S&P 500 and are usually cheaper to hold.

ETFs are especially beginner-friendly: they’re low-cost, liquid, and offer easy diversification. 

So where do you start?

Since you’re new to this, mutual unds are a safer ramp. They balance risk and offer some peace of mind. Stocks offer more upside, but only if you understand what you’re doing. As Oke put it: “Return of capital is better than return on capital.”

Also think about:

• Risk appetite: Can you stomach swings?
• Time horizon: Short-term? Stick with mutual funds. Long-term? Explore stocks.
• Currency exposure: Foreign assets, like U.S. stocks or Eurobonds, help hedge against the naira volatility, with returns tied to stronger (dollar or euro) currencies. But if those currencies weaken, your portfolio feels it too. 

That’s why many Nigerian investors now mix it up across both local and foreign options: using local ETFs for short-term plays and holding dollar-denominated assets for long-term protection. It’s like Nigeria’s multi-SIM culture: people want options and a backup. Diversifying this way spreads risk and opens you up to more than just the local market.

Top 7 apps to begin trading stocks in Nigeria

Whether you’re starting with ₦2,000 or eyeing your first foreign stock, you can confidently invest with these apps from your phone based on lived experiences

Trove

App Rating: 4.3 | Minimum Deposit: $10/₦5,000

Trove gives Nigerians access to both local and global investments from a single app. You can own shares of Nigerian companies like MTN or GTBank, or buy into international giants like Apple, Tesla, and Amazon all with the option of fractional investing. The app also supports ETFs, mutual funds, and government bonds, giving you a wide range of assets to build a diversified portfolio.

You fund your account in naira, convert to dollars if needed, and start investing directly. Withdrawals are flexible, and you can fund your wallet using cards, bank transfers, or fintech payment options.

Nasiru recommends Trove for its real-time price updates and responsive customer care. He also uses it for both U.S. and Nigerian stocks, citing it as one of the few platforms that handles both well in one place. While Oke advises holding more than one investment app due to platform reliability concerns, Trove remains a strong choice for managing a blended portfolio from Nigeria.

The platform works with licensed brokers and U.S. SEC-registered custodians, and its fee structure is fairly transparent. Naira withdrawals are free, but there are regulated charges on Nigerian trades, and around 1 percent per trade for U.S. stocks. If you’re looking for an app that makes investing accessible, responsive, and relatively low-barrier, Trove is a solid starting point.

Bamboo

App Rating: 4.1 | Minimum Deposit: $20

Bamboo focuses on U.S. stocks but now also supports Nigerian stocks, fixed returns, treasury bills, naira savings, and managed portfolios. It offers a clean, dollar-based investing experience and gives users both NGN and USD wallets. There’s no strict barrier to entry. You can start with as little as $1 by buying fractional shares.

The app charges 1.5 percent per trade. Funding options include naira cards, bank transfers, USD cards, and wire transfers. Bamboo charges ₦100 for deposits under ₦10,000 and adds a $1 fee per stock transaction.

Security-wise, Bamboo includes auto-logouts, PIN re-entry, and up to $500,000 in SIPC insurance on trading accounts. It also recently added an order book interface that gives users more control over pricing, something one of our experts says has been a “great help.”

Many retail investors use Bamboo alongside apps like Trove to avoid platform hiccups and balance exposure. While Bamboo mainly focuses on dollar assets, its sleek design and stable experience make it a go-to for those looking to trade U.S. and Nigerian equities from Nigeria.

Meritrade

App Rating: 4.4 | Minimum Deposit: ₦10,000

Meritrade gives you direct access to Nigerian stocks and ETFs through Meristem Stockbrokers Limited, a licensed brokerage and member of the Nigerian Exchange (NGX). It’s built specifically for local investing, with mobile and web platforms that support real-time trading and regular research reports sent straight to your inbox.

Once you complete the KYC process and fund your account with a minimum of ₦10,000, you can start trading. After you buy a stock, further interactions like dividends or share transfers are handled by the company’s registrar. Still, Meritrade stands out for its consistent updates, stock recommendations, and responsive customer support.

Nasiru, who uses Meritrade alongside Trove and Bamboo, sees it as a core brokerage that keeps him informed on market performance. Oke also highlights the importance of choosing platforms based on the products they offer—and for anyone focused on building a strong NGX-based portfolio, Meritrade fits right in. It’s not flashy, but it gets the job done.

Optimus by Afrinvest 

App Rating: 4.3 | Minimum Deposit: $1/₦1,529

Optimus is a Nigerian investment app from Andromeda, the fintech arm of Afrinvest. Afrinvest is a licensed financial services firm founded in 1995, and all assets on the app are managed by Afrinvest Asset Management Limited, which is regulated by the SEC.

Launched in 2022, Optimus lets users invest in Nigerian and U.S. stocks, mutual funds, Treasury bills, Eurobonds, and fixed income products. You can fund your account in Naira or Dollars, with no minimum for stocks and investments from $1.

The app also includes automated savings features. OptiLock lets you lock funds for 2 to 24 months and earn up to 15 percent per year in Naira or 5 percent in Dollars. OptiFlex is a flexible savings option that earns interest and allows up to five free withdrawals monthly.

Many Nigerians use Optimus to build a mix of local and foreign investments in one place.

Cardinalstone

App Rating: 3.6  | Minimum Deposit: ₦1000

CardinalStone is one of the more established names among Nigerian investment firms, with a strong reputation in equities and a range of solid tools for local stock market investors. Their brokerage arm is SEC-registered and holds full dealing rights across the Nigerian Exchange, FMDQ, and NASD OTC. 

If you’re investing in Nigerian stocks, their Trade Direct platform gives you real-time market access and execution. CardinalStone also offers tailored services like dividend revalidation, share transfers, and even margin trading for more experienced investors. 

For those looking to preserve capital, their Money Market Fund requires a minimum investment of 100,000 units and is known for its stability, although it may be priced higher than other entry-level funds.

InvestNaija 

App Rating: 3.7  | Minimum Deposit: ₦0 – ₦5000

InvestNaija is a retail investment platform powered by Chapel Hill Denham Securities. It gives you access to Nigerian stocks, mutual funds, and curated investment plans through a clean, beginner-friendly interface. You’re technically trading through Chapel Hill Denham, a registered broker, which gives the platform regulatory backing. 

Once you’re set up, features like PlanIN help you set and track goals like saving for a car or home, while LearnIN offers bite-sized lessons, articles, and podcasts to help you improve your money decisions.

The platform focuses on Nigerian assets, making it ideal for users looking to stay within the local market while benefiting from structured, long-term planning tools.

ARM One

App Rating: 3.9  | Minimum Deposit: ₦10,000

The ARM One app simplifies investing in Nigerian stocks and mutual funds by putting all your assets in one dashboard. You can easily track performance without needing constant updates from an advisor. It supports fast, low-fee funding from a single cash account, letting you top up and manage multiple investments in one place.

You’ll also find real-time stock recommendations tailored to your portfolio on the app’s dashboard. Once you log in, you can take action with just a few taps—no confusion or digging around. It’s designed for users who want straightforward investing and clear insights, all from one app.

*Name changed for privacy reasons.

FAQs

What about Crypto-backed stocks?

Crypto is volatile and not ideal as your only investment. Most Nigerians use apps like Roqqu or Luno to trade, although not for long-term investing.

Can one app handle all my investments?

Some apps let you invest in both local and foreign assets, but retail investors suggest that you split your portfolio across multiple platforms.

Should you invest in Nigerian stocks?

Yes, for exposure to local industries and potential dividends. Just be mindful of economic risks and balance with other investments. Additionally, Nigerian stocks have performed well since 2023.

What is the best app to buy NGN stocks today?

Afrinvest and Trove offer one of the best local stock exposures.

What is the best app to buy US stocks

Bamboo, Optimus, Risevest.

Should I use a traditional broker?

If you’re new or want expert guidance, a registered broker can help, but it comes at a cost. Most retail investors now use apps for self-directed investing, which is cheaper and more flexible.

When is the best time to buy?

Ideally when prices are low, either due to a dip in the market or a temporary decline in a stock you believe in. But don’t just time the market. Focus on long-term value and consistency over quick wins.

Why do my stock prices look different when buying or selling?

Some apps use delayed prices, especially for NGX stocks. For large trades, the gap matters. Check execution prices and use apps with real-time quotes.

What if my portfolio is always in the red?

Markets fluctuate. If the fundamentals are strong, holding might work, but review your strategy. It could be poor timing, bad diversification, or slow app execution.

Can I track dividends on these apps?

Most don’t send alerts. You’ll have to check manually via NGX updates or investor pages. Some brokers like ARM may notify you.

Is it better to buy during a market crash?

Yes, if you know what you’re buying. Crashes can expose undervalued quality stocks, but always research. Cheap doesn’t mean good.

Which stock broker app is best for beginners?
Trove and Investnaija is beginner-friendly. For deeper access to NGX stocks, ARM offers more traditional broker support. Choose based on the mix of guidance, fees, and ease of use you want.

What is the best way to transfer your stocks from one platform to the other?

Most times, you’ll need to sell, withdraw, and rebuy on the new app. Direct transfers are rare unless both use the same broker. Always check with customer support.