Gone are the days when you had to call your stockbroker by phone to place an order. This was not only very expensive but was also time-consuming.
This old practice has been replaced and brokers now deploy online trading Apps that reduce human input and let you place trades on your own. This has cut cost drastically and put the power in the investor’s palms. These Apps are accessible to even the people in the villages who may not be tech savvy hence they wonder how online trading and investing works.
To invest you need to settle for a stockbroker to link you to the stock exchange, download the brokers App, register and open a client account with the broker, then start investing or trading. There are over 328 listed Stocks on the Nigerian Stock Exchange (NGX) to choose from and there are also several SEC registered stockbrokers you can choose from. It takes days at max. (T+3) for stock to be delivered to your account after paying for the stock.
Currently, only retail equity investing and trading is regulated in Nigeria and retail forex trading is not yet regulated by SEC and so retail forex traders do so at their own risk.
Choosing a Brokerage
A stockbroker links you to the stock exchange as you can’t buy stock directly from the exchange. You need to choose a stockbroker who has a good trading App that has strong security features such as two factor authentication (2FA), charges low fees, etc.
To view a list of licensed stock brokers visit the NGX website on
