Trove Stock Trading & Investment (Review): Start investing in Foreign Stocks

Countless times we have seen opportunities to make our riches and wealth but the limitation remains a stumbling block. In the space of Foreign Stocks like the USA, Chinese, Japan, Canada, etc. are not acceptable from some countries. eToro would have been the best option but the registration process is strenuous, not to talk about the minimum deposit to start trading stocks.

There are limitations especially to every little-beginners interested in stock trading and investment.

But Guess what?

Trove Stock Trading & Investment technology platform has made it 100% possible in bridging the gaps. And guess what is not the only platform with such an amazing opportunity – checkout Bamboo and other lists of small-scall stock trading and investment platforms here.

So you would have to worry about the strenuous registration process and the urge trading amount required. Here on Trove Finance, with as little as $1.50 (which is about ₦1,000 Naira of Nigeria currency).

About Trove Finance


Trove Finance is a micro-investing platform that allows traders to Invest in American, Chinese and Nigerian stocks, Bonds, ETFs. The greatest thing is that it allows Nigerians to start buying stocks and cryptocurrencies with as little as ₦1,000, while international stocks for as little as $10.

This means trading international stocks is made easy like never before. Trove is currently available on iOS and Android.

official image of Trove Stock Trading and Investment

Oluwatomi Solanke
(CEO)

General Business • Sales/Bus Dev
Lagos, Nigeria

To start using the Trove you must be a registered member. The registration requirements may look strenuous to you as a first user, but could never be when compared with the eToro (that is if you’re even able to successfully complete the eToro registration process in the first place).

New users can now fund account to start investing or varieties of stocks.

The steps below show full details on how to sign up, then log in, and Start investing in both local and Foreign Stocks.

Trove Charge Rates:

Just like other financial apps, Trove also has its charges for transactions. That Is one of the channels by which they make a profit for their company. Check below for full details on that.

Trove Fees & Pricing:

Trove Charges/Fees & Pricing

Charges for Depositing/Funding and Withdrawing (Naira & Dollars):

Deposit (Fund) Naira & Dollar Wallets: Bank Transfers (for Deposit/Funding): Withdrawal:
– Payment Gateway (Debit/Credit Cards) – 1.5%
+₦100 for transactions over ₦2,500
Bank transfers (Deposits) are freeWithdrawals (Naira & Dollar Wallets) – Free

Trading Fees – Buying & Selling Nigeria Stocks From Naira Wallet:

Buy – Nigerian Stocks: Sell – Nigerian Stocks:
– SEC (Securities & Exchange Commission) – 0.30%
– CSCS Trade Alert – ₦4.20
– VAT on commissions – 7.5% of NSE, SEC & Brokerage fees
– Stamp Duty – 0.075%
– Brokerage – 1.35%
– Platform Fees – 0.5%
– NSE (Nigerian Stock Exchange) – 0.30%
– CSCS Trade Alert – ₦4.20
– CSCS – 0.30%
– VAT on commissions – 7.5% of NSE, SEC & Brokerage fees
– Stamp Duty – 0.075%
– Brokerage – 1.35%

Trading Fees – Buying & Selling Foreign Stocks From Dollar Wallet:

Buy – Foreign Stocks: Sell – Foreign Stocks:
1% of Transaction Amount 1% of Transaction Amount

Creating Trove Stock Trading Account

You can create a new Trove account through the website or the mobile app (which is even more convenient). But never the less, the steps below cover both methods, to select the most convenient method to use. But note that the requirements remain the same.

Sign Up Trove from Website and Mobile App

  1. Visit the official Trove website – www.troveapp.co
    OR
    If you want to do this via the Trove Mobile APp then download the app first, it is available on both android and iOS store. After the download and installation is completed, proceed to #2.
  2. Click onthe Sign Up button at the top of the page. If you’re using a Mobile or tablet to visit the Trove website then you might need to click on the “THREE-LINES” at the top to see the same sign up button.
  3. The first step of the form will request for your email and phone number.
  4. Next, you’ll be providing your personal information. On the page you will be requested to provide information such as your Bank name, account number, gender and date of birth.
  5. Next, your Occupation Profile, Marital Status, & Investment profile; this is where select options that best suit your profile.
    Occupation Profile
    – Select Employment Status
    Marital Status
    – You’re to Select Marital Status
    Investment Profile
    – Select Annual Income Range
    -Select Networth Liquid Range
    -Select Networth Total Range
    -Select Risk Category
    -Select Investment Experience
    -Select Funding Sources
    -Select Investment Goal
    -Are you Politically Exposed? –

Now you could see each question asked under the various profiles. The options have already been provided to select from.

  1. Next, Upload Documents; this is where you upload your ID card. Trove will only accept either; National ID card, Voters card (if you’re a Nigerian), International passport, NIMC/NIN splip (if you’re a Nigerian) or Drivers license.

    Then upload whichever is your perferred document for verification.

The link below will help you if you haven’t gotten your NIN slip or Voters card.
Learn how to reprint your NIN split
Learn how to get a new or replace Voters card


Please note that in some cases you might go off the registration page, then thinking you will be starting all over again. While it not so. Simply go to the Trove login page and enter your email address and password to continue from where you stopped, or click on the “dashboard menu” to see the notification “that you’re almost done”

  1. Now you may may procceed on logging into your email address (used for the Trove registration), open the email and and click on the “Verify” button.
  2. Now move to your next of KIN detail. You will alsohave to provide all the detail of your next of KIN.

Done!

You just completed the Trove registration process, ready to start trading.

You need money to start trading, therefore you have to fund your account with at less N1000 (if you’re a Nigerian). I personally would prefer my account 100% verified before proceeding on the funding account, because an unverified account can’t deposit using the card payment option until the account is verified.

But notwithstanding, the steps below will show you how to fund a Trove account and start trading instantly.

How to Fund Trove Account with Trove App

Step 1: Make sure that you are in your account dashboard already. If you’re making use of the app, you should see the “ADD FUND” link with a forward arrow.

Step 2: Select your preferred funding method (either Bank Transfer or Card Payment).

The fund transfer method: means you will transfer money from your bank account to your Trove account. An account number will be generated for your Trove acct to transfer money into will display on your screen (after you click on proceed).

While Card Payment: means you will be funding your Trove wallet using either a Verva card, Master Card, or Visa card.
A calculator will display to you for you to understand how much will be charged from your card as Trove’s Processing fee.

Select any method you prefer and click on the “Proceed” button.

Step 3: In no time – you should see your account credited if your account is already verified.

How to Fund Trove from Trove’s treading website

Step I Login to your account.

Step 2: You should see the PLUS “+” icon beside the wallet balance and the portfolio. However, you should click the “+” icon behind the “Wallet Balance.

Step 3: Select the currency you want to fund with, then by the right side of the screen click on “Add money to your Trove Wallet”.

Step 4: Select your preferred method of funding whether Bank transfer or card payment.

Step 5: complete your funding and refresh your account.

That’s it!

Conclusion

Before even thinking of funding your account ensure that your account profile is 100% complete.

To confirm this, I prefer using the app, go to your Menu bar (the three-line) – then select account settings – then under the profile information select the profile details. You will see how many per cent completion your account is, and a green-good is ticked on any completed stage.

Funding account might take time to reflect in your account especially if your account is not verified yet.

Trove is good but you can as well try out other platforms and let us know what experience you got using them or the Trove we have reviewed.

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