Chaka app

How to Buy Nigerian and US Stocks with Chaka App and Earn Dividends

Chaka is an investment app that allows Nigerians to buy both Nigerian and US stocks. The Chaka app is a digital “investment passport” that eliminates the geographic barriers that used to prevent Nigerians from trading on the US stock market.

“Hi there, I use Chaka to invest in my favourite foreign and local stocks. Download the app now to begin your investment journey” – click the link and get started”

The platform is licensed by the Securities and Exchange Commission of Nigeria as a digital sub-broker. It offers access to global equities and index funds from more than 40 nations.

How does the Chaka app work?

The Chaka app is Nigeria’s first and only SEC-licensed digital investment platform. It allows anyone to trade US and Nigerian stocks securely on their smartphone with no signup fees or hidden charges. It also offers dollar portfolios tailored to your goals and risk level through SmartInvest.

“Hi there, I use Chaka to invest in my favourite foreign and local stocks. Download the app now to begin your investment journey – click the link and get started”

You can start with as little as $10 or N1,000 to trade and invest in global and Nigerian stocks using the app. All you need to get started is a valid national identification number (NIN) and a phone number. Then, you can deposit money into your local wallet to buy Nigerian stocks and your global wallet to buy US stocks. The funds in your global wallet will be automatically converted to USD.

Once you have a USD account, you can buy shares in companies listed on the New York Stock Exchange and the Nigerian Stock Exchange. You can even invest in US mutual funds and bonds. The best part is that it’s free to deposit and withdraw money. And you can earn dollar dividends from your investments.

If you are interested in investing in US or Nigerian shares, it’s important to understand the difference between the two markets. You should also be aware of the risks involved in investing. However, by following these tips, you can maximize your potential for profitable investments.

Another good tip is to keep track of market trends and news. This will help you make better decisions when buying stocks. It’s also a good idea to have an account with a broker so you can receive professional advice.

There are many different apps that let you invest in Nigerian and US stocks. These include Piggyvest, Risevest, and Bamboo. All of these platforms allow you to invest in international stocks, but they all charge different fees. It’s important to know what fees you are paying before deciding which one is the best for you.

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“Hi there, I use Chaka to invest in my favourite foreign and local stocks. Download the app now to begin your investment journey – click the link and get started”

One of the most important things to remember when investing in foreign shares is that you will need to pay taxes in the country where the company is based. This is called capital gains tax. The good news is that most brokers will handle this for you. This way, you won’t have to worry about making mistakes that could cost you thousands of dollars in taxes.

How to buy stocks in the Nigerian capital market

Many Nigerians are looking to grow their savings through the stock market. This is a huge opportunity for online investment platforms like Chaka, Trove and Bamboo that enable them to invest in both local and foreign markets. However, there are some important things to keep in mind when using these apps.

First, it’s important to know that these apps are not brokers. They’re a technology platform that connects you to the stock market via their partner brokerage firms. This means they’re not regulated by the Nigerian stock market authority (CBN). They also do not offer any margin trading or loans.

While these companies have been offering these services to Nigerians for a few years now, it’s still important to note that the CBN has recently sued several of them for operating without the necessary securities licenses. This has led to a back-and-forth between the startups and regulators on how to resolve the issue.

Despite the legal hurdles, these apps have managed to continue offering their services to Nigerians. However, on 8 April 2021, the Nigerian Securities and Exchange Commission (SEC) warned that any online investing platform that has access to securities of companies registered in other jurisdictions should desist from offering their services to investors. This is a setback for the startups but they’re addressing this issue through their legal teams and working with regulators on possible solutions.

Chaka app is one of the few online investment platforms that offers investors the opportunity to trade both US and Nigerian stocks. Their brokerage fees are relatively low compared to other platforms. The average commission for a trade is $2 or 1% for US stocks, and N100 or 0.50% for Nigerian stocks. Additionally, Chaka provides a variety of other investment tools to help you make the best decisions for your portfolio.

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If you are a beginner to stock market investments, it’s recommended that you start with a small amount of money that you can afford to lose. This way, you’ll be able to learn the ropes without risking too much. Then, once you’ve mastered the basics, you can gradually increase your investment amount.

How to buy US Stocks with the Chaka app

Investing in US stocks used to be hard for Nigerians because of restrictions imposed by the Central Bank of Nigeria (CBN). However, thanks to technological advancements, buying and trading foreign shares is now easier than ever. This allows individuals from all walks of life to reap the benefits of investing in the stock market. Among these investments include buying shares in the US stock market, which can give you a significant return on investment over time.

Several online stock-trading platforms have been launched to make investing in the US easier for Nigerians. These platforms allow investors to purchase shares on the international stock exchanges by using their smartphone. These apps eliminate the location and distance barriers that previously prevented Nigerians from trading US stocks. They also provide a range of tools that help investors find the right US stocks to buy and trade.

A few of the most popular US stock-trading platforms in Nigeria are Trove, Bamboo, and Risevest. These platforms allow users to access a variety of blue-chip companies in the US and Nigeria. They also allow users to get started by depositing as little as $10 or N1,000 in local money.

Each platform has its own unique set of features. For example, Trove enables investors to choose from a portfolio of US stocks curated by wealth management experts. It also allows you to monitor your returns. Meanwhile, Bamboo offers real-time trading and investment in US, Nigerian, and Chinese stocks as well as other financial assets like bonds and ETFs.

The key difference between these platforms is the fee structure. While some of them have a flat commission fee, others charge a management fee. It is important to consider these fees before choosing an investment platform.

Tosin Osibodu, CEO and co-founder of Chaka, has a long history in the financial services industry. He has held senior positions at companies such as Citi Investment Capital and GUMCO. He is also a founding member of the Lagos Entrepreneurship Foundation.

Chaka is available on Android and iOS devices. Its registration process is quick and simple. The platform requires users to provide identification documents and some other personal details. Once the registration process is complete, the user will receive a confirmation email. Once the user has verified his or her identity, he or she can start trading on the platform.

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Who Regulates Chaka

Founded in 2019 by Tosin Osibodu, Chaka is Nigeria’s first and only digital investment platform that allows users to buy Nigerian and US stocks. It offers investors opportunities to invest in dollar portfolios that are tailored to their risk profile and goals. It also allows users to trade 5,000+ US and Nigerian shares securely from anywhere in the world. It is a part of an emerging class of investment-tech startups that democratize retail investments by locals in foreign stock markets. Chaka’s competitors include platforms such as Risevest and Bamboo.

Since its inception, Chaka has been in the crosshairs of regulators in Nigeria. In fact, as Technext reported earlier this year, the Securities and Exchange Commission (SEC) has directed investment-tech companies to stop offering foreign shares to Nigerians. Consequently, the platform has been forced to pioneer the process of registering for the newly created Digital Sub-Broker Licence with the SEC.

In this episode of Technext’s Startup Focus series, we talk to Tosin Osibodu, Co-Founder and CEO at Chaka, Nigeria’s first digital investment platform. As a serial entrepreneur and University of Pennsylvania alum, Tosin brings a wealth of experience to his role at Chaka. He discusses the company’s journey thus far and how it is navigating the regulatory challenges facing investment-tech startups in Nigeria.

“Hi there, I use Chaka to invest in my favourite foreign and local stocks. Download the app now to begin your investment journey – click the link and get started”

After the crash of the global financial crisis in 2008, many people in Nigeria were discouraged from investing in stocks. Even if they wanted to, trading in the Nigerian capital market is difficult for most. That is why Chaka was created – to make it easier for ordinary Nigerians to participate in the stock market. Besides providing access to the Nigerian and international stock markets, Chaka’s Smart Invest feature, through the Chaka app, helps you save money, build good saving habits, automate your savings, and meet your investing goals easily. The platform uses PCI-DSS compliant, bank-grade security and two-factor authentication to protect your accounts. It also uses Rise, an SEC-registered investment adviser in the United States to manage users’ funds. Lastly, the platform makes it easy to pay taxes both in the US and Nigeria.

“Hi there, I use Chaka to invest in my favourite foreign and local stocks. Download the app now to begin your investment journey – click the link and get started”