Buying shares from offshore companies was quite an impossible thing to do some time ago. The associated hassle doesn’t just make it seem worthwhile. Suddenly, online stockbroking came into the scene, and everything changed. Buying foreign stocks was formerly an endless loop of brokers and brokerage fees. Today, you can invest in stocks from the comfort of your room without having to initiate a phone call. We shall be taking a deeper look at the best investment app for android users today and this time, we call it Bamboo Investment App.
This feat was made possible by Bamboo Investment App, an app that lets you buy USA stocks from Nigeria.
Bamboo Investment App is registered with the SEC (Securities and Exchange Commission) and is a safe way for beginners to buy shares in companies in the United States.
In this article, you’ll learn how to use the Bamboo App to trade US stocks in Nigeria without stress.
What is Bamboo Investment App?
As described on the official website, Bamboo is a platform that lets Nigerians and other Africans invest in well-performing foreign stocks in real-time. It pulls the latest deals from local and international exchanges and makes them available to users from sub-Saharan African nations
While there are many publicly traded companies in Nigeria and other African countries, over 85% of all stock market dollars goes to the US stock exchange.
It is true that investors from Sub-Sahara African Regions have some limited access to stocks in the US stock exchange, Bamboo is trying to bridge the gap by providing a seamless experience for investors to invest in real-time and on the go.
Bamboo claims to secure its users’ accounts with bank-level security, with an insurance of up to $500,000 for each Bamboo investment account.
How to Download Bamboo Investment App
Before you can start investing in the Bamboo app, you should have the app installed on your mobile device.
You can get the Bamboo Investment App on your phone in two ways, and they are both explained below.
Open the Bamboo Investment website. At the top right corner of the interface, you can find the options to download the mobile apps.
If you’re using an Android device, click on the option that lets you download it from Google Play. If you’re on an iPhone or other iOS devices, select the option to install the App from the App Store.
If you don’t want to take the pains of visiting the official website, you can:
Open the Google Play app on your phone (Android) or the App Store (iOS)
Enter “Bamboo Investment” into the respective search boxes and hit the search button
From the results, install “Bamboo: Invest. Trade. Earn.
Fire it up and you’re ready to go!
How to Buy Stocks with the Bamboo Android App
Once you’ve installed the Bamboo Android app, you can sign up for an account and get access to over 3,000 local and international stocks traded on the platform.
An account is required to commence trades on Bamboo. The steps required in creating an account and subsequently buying stocks on Bamboo are outlined below.
How to Register on the Bamboo Investment App
While we expect Bamboo to scale through to the whole of Africa soon, it’s not a reality yet. Meaning, you can only create a Bamboo account from Nigeria, Kenya and Ghana.
If you’re a Nigerian, you can follow the steps below to create a Bamboo Investment App account.
Fire up the Bamboo App and tap the big green “GET STARTED” button.
On the registration page, you will be required to provide some personal information. Note that the government requires apps providing this service to collect this much data from users.
You’ll be required to choose a password, a unique username, your phone number, your bank verification number, and other relevant details.
Once you’ve entered and verified the relevant details, you might be required to answer some questions to ascertain your investment experience.
Boom, you just got your Bamboo Investment account. But there’s still more to investing with your new gem. You have to deposit money to start buying stocks on the app.
How to fund your Bamboo wallet with the Bamboo Android App
Log into your newly created (or existing) Bamboo Investment account. You’ll be directed to the dashboard, with a plethora of options to help you with your investment journey.
Tap the “Profile” tab at the bottom of the app and tap the “Deposit Money” button.
Enter the amount to deposit, and follow the instructions to complete the deposit.
Note that Bamboo Invest uses Flutterwave to power their deposits system, and it might take up to two business days for deposited funds to reflect on the account.
Also, there’s a minimum deposit of $20 and it’s equivalent in local currency. In short, you can’t deposit less than $20 to your Bamboo Invest wallet.
How to Buy Stocks on the Bamboo Android App
Have you funded your account?
That’s Cool because you just added your cool cash to one of the best investment app for android users, it’s time to buy some stocks; the Bamboo Investment App isn’t a bank.
Once you’re successfully signed into your account, you can see stock recommendations and an overview of all the stocks you currently hold.
You can also search for a stock on Bamboo. Once you’ve found the exact one you’ll like to buy, you can choose to buy the shares immediately or when the price increases or decreases.
To purchase a stock, follow the steps below.
On the Stock detail page, tap the large “BUY” button
Choose to buy when the price increases or decreases and input the number of stocks you’ll like to purchase
Tap on the “Review” button and select “Buy”
Selling Stocks with Bamboo Investment App
You can also sell stocks you currently hold on Bamboo. Follow the steps below to sell your existing stocks.
On the homepage, tap the “My Stocks” tab and select the stock you would like to sell
Tap on sell and customize the selling options. Tap “Review” and select “Sell” when you’re done.
Note that you’re not mandated to sell your stocks at any time. You can hold your stocks on Bamboo for as long as you want, and you can sell them off anytime.
Conclusion: Bamboo Investment App
Buying international stocks from Africa used to be very tedious process and an expensive thing until the Bamboo App came into the limelight. Bamboo app could be tagged one of the best investment app for android users.
Now, you can buy and sell both foreign and international stocks from the comfort of your house without having to invest thousands of dollars.
Download the Bamboo App and follow the tutorial guides above to get started.