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If you want to invest long-term without limiting yourself to day-to-day operations, stocks represent the ideal choice. As a result, stocks have proven very appealing, especially for most investors.

There are different platforms where you can buy stocks in Nigeria, so you should pay special attention to the commissions and fees they apply. This guide will learn all you need to know about commission-free trading and buying shares online in Nigeria. If you intend to buy stocks in Nigeria, be sure to continue reading this guide.

How to Buy Stocks in Nigeria – Quick Steps

Stocks and shares can be bought through various platforms online, and you can use these platforms to help you buy them. Our only recommendation is that you check out one of our top recommendations, Capital.com, which offers some cheap stocks to buy right now. If you would like to test this platform, please follow the steps below:

  1. You need to create an account. The first stage is to open an account with Capital.com.
  2. Verify your identification. Verifying your identity will also require you to upload an identity document and provide personal information.
  3. Make a deposit. Next, you will need to invest for the first time by depositing money.
  4. Invest in stocks. Capital.com platform offers you the possibility of searching for stocks you like and buying them.

Step 1 – Choose a Stock Broker

Interested in receiving our recommendation on some of the best stock brokers and being told why we consider them to be the best choices when it comes to finding inexpensive stocks to buy now? If so, we are sure you’ll find all the information you will need here. The brokers we recommend should be able to provide you with everything you need to invest in the stock market and provide you uncomplicated access to the best stocks to invest in the stock market.

1. Capital.com- The Best Platform Using Artificial Intelligence In Nigeria

how to buy us stocks from nigeriaOur first recommendation is Capital com, which has more than 3,000 instruments, including a wide variety of CFDs for stocks. It has more than 3,118 stocks, including most of the major companies in the world. Apart from this, you can trade CFDs on cryptocurrencies, ETFs, stocks, commodities, and indices.

Capital.com is a very affordable broker as it does not charge commissions, which is why it has been positioned in this list. In addition to that, the company’s spreads are very low, and its platform is very user-friendly. However, that is by no means to say that it is not quite powerful, which Capital.com attributes to its AI, which provides traders with specialized knowledge and analysis tools, specialized charts, and technical indicators.

What’s more, the broker’s website has considerable information about stock trading aimed at its traders. It is even possible to use Capital.com’s mobile application to learn how to trade stocks over the Internet, making it an excellent alternative if you are a first-time online stock trader. Likewise, its extensive list of available risk management and trading tools makes it attractive to the vast majority of stock and CFD traders.

Since you only trade CFDs, you do not actually own any of your trade assets. However, if you can forecast their movements accurately, you can make money if asset prices go down.

Capital.com fees:

Fee Amount
Stock trading fee Spread. 1.83 pips for Amazon.
Forex trading fee Spread. 0.8 pips for GBP/USD.
Crypto trading fee Spread. 100 pips for Bitcoin/USD.
Inactivity fee Free
Withdrawal fee Free

Pros:

  • Low spreads
  • Over 2,400 shares
  • Spread betting
  • AI trading platform

Cons:

  • Can’t own stocks
  • Doesn’t accept PayPal

Your money is at risk.

2. FXTM- The Best Tools To Learn How To Buy Stocks In Nigeria

how to buy nigerian stocksThe ForexTime (FXTM) is an online brokerage firm that claims to be dedicated to providing the world with forex education. Among the many features that the platform offers, you will find a suite of learning tools that can help you become a better currency trader.

As well as these, there are also regular webinars and seminars on the site that cover a variety of topics in extensive detail. In addition, there is a demo version option available through FXTM's mobile app, online, or on a computer that can be accessed for free. A very small deposit of just $10 is all that is needed to trade currencies at FXCM. This platform is regulated by CySEC, FCA, FSC

Unlike other forex trading app providers, the forex trading app provider is not charging any commissions, so the only thing you have to consider is the spread. In other words, no matter which type of account you have, you will have to pay a spread - though it starts from only 1.3 pip for the Standard Account. Additionally, FXTM supports a wide range of CFD markets - such as stocks, metals, indices, and so on.

how to buy stocks for beginners

FXTM fees

Fee Amount
Copy-trading fee Free (Variable profit share scheme)
Forex trading fee Spread, 0.1 pips for EUR/USD
Crypto trading fee Free (variable swap)
Inactivity fee $5 per month after six months
Withdrawal fee $10

Pros:

  • Leverage of up to 1000
  • Some assets have zero spreads; others have tight spreads
  • Deposit requirements are low
  • Low overnight fees

Cons:

  • A smaller selection of instruments compared to others

Your money is at risk.

3. Skilling- The Best Practical and Educational Platform To Buy Stocks In Nigeria

how to buy stocks online without a brokerIt is very popular among beginner traders to trade with Skilling. One of the reasons for that is that placing buy orders is very simple.  But, on the other hand, Skilling is extremely practical for educating traders, as it has very helpful guides and explanatory material.

This UK broker cannot buy classic assets since it specializes only in CFDs. However, you can trade in more than 800 financial instruments, e.g., stocks, commodities, indices, and currencies. Complying with FCA regulations, Skilling allows leverage for all these markets.

Skilling does not charge commissions, regardless of the CFD asset class you choose to trade. The company offers a wide range of CFD trading services, and its spreads are among the lowest of its competitors in the industry. It is possible, for example, to trade a major currency pair during standard market hours for as little as 0.1 pips.

As well as being ideal for novices, Skilling is also popular with more experienced professionals who prefer to trade using MT4 or cTrader. In addition, Skilling can be connected to other third-party platforms, allowing access to much-advanced order analysis and chart analysis features. In addition to offering a mobile trading application, Skilling also has a desktop trading application.

how to buy stocks online

Skilling fees:

Fee Amount
Stock trading fee o% Commission on Skilling's Trader Account
Forex trading fee Variable spreads starting from 0.7%
Crypto trading fee Spread. 0.20% for Bitcoin
Inactivity fee €10 per month after one year
Withdrawal fee Free

Pros:

  • More than 800 financial instruments
  • Great for novices and professionals alike
  • No commissions
  • High leverage
  • Heavily regulated
  • Has copy trading

Cons:

  • Doesn’t support ETF trading

Your money is at risk.

4. AvaTrade - The Best High Leverage Platform To Buy Stocks In Nigeria

how to buy stocks and make moneyAnother top choice among brokers is AvaTrade. This is another top choice if you're looking to trade stock with zero commission and also a great choice if you're looking for high leverage. AvaTrade is the most leverage-friendly broker for retail traders, offering leverage of 400 times for retail accounts. This, of course, depends on the asset you wish to trade and the region where you are located.

The reality, though, is that the fact that an asset can be traded with x400 leverage makes it very simple to see what this platform has to offer. However, stocks still have fairly low leverage of only 10x. Regardless, there are plenty of stocks available on the platform, and the platform is very easy to use.

Traders will find it compatible with other trading platforms, making them feel comfortable and comfortable in a familiar environment. In addition, there are low spreads on this platform, it is heavily regulated, and it is a great option for those who are still looking for where to buy stocks.

how to choose which stocks to buy

Avatrade fees:

Fee Amount
CFD trading fee Variable spread
Forex trading fee Spread. 0.9 pips for EUR/USD
Crypto trading fee Commission. 0.25% (over-market) for Bitcoin/USD
Inactivity fee $50 per quarter after three months of inactivity
Withdrawal fee Free

Pros:

  • Massive maximum leverage
  • Offers a wide range of assets
  • Allows trading at zero commission
  • Low spreads
  • Multiple trading platforms supported
  • Heavily regulated by top regulatory bodies

Cons:

  • Features a high margin fee

Your money is at risk.

Step 2 – Research on Stocks Investing

The knowledge that you need to make good trades involves much more than knowing where to discover the best stocks to buy right now. As well analyzing the stocks themselves is necessary to determine which ones should be invested in, which is not always as simple as it seems. Certainly, to determine which stocks are the best to invest in, you have to consider certain specific aspects to make the right decision.

What is a Stock?

how to know when to buy or sell stocksFirst of all, it is vital to specify what a share is. A share, in turn, called equity, is a type of security whose representation consists of a fraction of the company. Apart from buying and owning the shares, a trader becomes the owner of a part of the company whose shares he has bought. Consequently, the trader who has purchased the shares receives a portion of the company's assets and profits corresponding to their value. A share constitutes a stock unit purchased on stock exchanges or brokerage platforms or privately.

Best Nigerian Stocks

If you are interested in investing in Nigerian shares, then the Nigerian stock market has a wide range of great investments that you can make. Airtel Africa, Seplat Petroleum, Nigerian Exchange, and Zenith Bank are among these companies among these stocks at the time of writing. You might be wondering where to buy American stocks in Nigeria. There are some different options you can choose from.

Airtel Africa

There are 14 countries in Africa where Airtel Africa plc is based, primarily in East Africa, Central Africa, and West Africa. The company builds mobile money and telecommunications services. The majority of Airtel Africa's shares are owned by Bharti Airtel, an Indian telecommunications company. In addition to offering mobile phone and data services to both consumers and businesses, Airtel Africa also offers mobile money services both domestically and internationally.

The cheapest data plans in Nigeria make Airtel Nigeria the most profitable unit of Airtel Africa. The company had over 99 million subscribers on the continent as of March 2019. A constituent of the FTSE 100 Index, it is listed on the London Stock Exchange.

Zenith Bank

A Nigerian multinational financial services company, Zenith Bank is based in Lagos. Zenith Bank was founded in 1990 and was licensed by the Central Bank of Nigeria, the national banking regulator.3 It is the largest bank in Nigeria and the English-speaking region of Africa. The company's shares are traded on the Nigerian and London stock exchanges.

It was founded in May 1990 and began trading in July 1990. As a result of a successful IPO, the bank became a publicly traded company on June 17, 2004. The Nigerian Stock Exchange (NSE) listed the company's shares on October 21, 2004. Additionally, it has been listed on the London Stock Exchange (LSE) since 2013.

A Nigerian bank headquartered in Lagos, Zenith Bank Plc has over 500 branches throughout the federation of Nigeria. Zenith Bank also maintains subsidiaries in Ghana, Sierra Leone, the United Arab Emirates, and the United Kingdom. South Africa and China are also represented by the company.

Stocks Fundamentals

Cash flow and return on assets (ROA) are the fundamentals. The financial analysis looks at the fundamentals of a stock. Data that may impact value or price is analyzed during this process.

In fundamental analysis, all factors that can influence a price or perception of value are considered. Trading patterns are not considered. Basics come first.

As part of fundamental analysis, a company's value is determined based on its stock value. The following indicators can be used to determine a company's fundamentals:

  • Cash flow
  • Return on assets
  • Using conservative gearing
  • History of profit retention to finance future growth
  • Management of capital for maximum shareholder returns

Stocks are viewed from a conservative perspective by fundamental analysts. Stock performance depends on a variety of factors. They include the industry overall, the competition, the management structure, income and revenue, and the potential for growth of the company in question.

Therefore, fundamental analysis is extremely relevant when a trader is considering the medium and long terms of their plan, even though it is not so important in the case of day traders, scalpers, and other figures who tend to buy and sell quickly to make comparatively small profits daily, or perhaps even multiple times a day.

What Are Dividends in Stocks?

Shareholders can also make money from dividends. Large companies distribute dividends to their shareholders to share their profits.

As soon as the proceeds are collected, you will receive your share. How much dividend income you receive will depend on how well the company does. It is generally true that dividends are distributed every 3 or 6 months for shares that pay dividends.

Dividends are paid out as follows:

  • Suppose you own 500 shares of HSBC.
  • You receive quarterly dividends from the company
  • HSBC has announced a 7% dividend yield this time around

Capital gains are added to dividends, so you get both. Therefore, stocks that increase value and pay dividends are the ideal investments to make.

What Stocks To Buy Today?

Experts believe that today, it is possible for investors to acquire a variety of stocks to make profits. Therefore, the trader can also invest in Facebook, Apple, Amazon, Netflix, Tesla, and many others and the mentioned companies. In this reference, it would be advisable to remember that this list is subject to daily changes, so it would be wise to conduct thorough research beforehand. There is another relevant question regarding how old you have to be in order to purchase stocks. Under Nigerian law, it all revolves around the age of majority.

Apple (AAPL)

A new entry-level price for Apple's shares is currently below what the stock market would consider a cup-and-handle price. According to MarketSmith's analysis, the best buy point is 176.75. Short-term, the 50-day moving average of AAPL will be a key target in the coming weeks. The stock dropped below the benchmark during the past week.

On the other hand, Apple's stock price recently hit new highs as measured by the relative strength line. It is a positive development, but it also indicates how poorly the market has been doing. A stock with a strong RS line tends to break out first when markets are choppy.

As of today, Apple scored 93 out of 99 on the Composite Rating. The company became the first to reach a three trillion-dollar market capitalization last month. Nevertheless, its market capitalization has declined since then.

In recent quarters, IBD Stock Checkup says, earnings growth has rebounded because of the strong stock market rally due to the Covid-19 pandemic. Apple's stock also rose after the company updated its fiscal year 2022 results for the first quarter.

75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Microsoft (MSFT)

As far as revenue is concerned, Microsoft is able to predict revenue very well, and there are several key indicators that support this assertion.

On January 25, 2022, Microsoft held its Q2 FY 2022 earnings call. According to the call, its commercial remaining performance obligations increased by 31% and 32% in constant currency, respectively, to $147 billion. Approximately 45% of the obligation will also be recognized as revenue by Microsoft within the next year. Furthermore, Microsoft reported that it had seen a one-point increase in its annuity mix in the past year. Therefore, the stock is underpinned by recurring revenues, which is a strong positive for the company.

Microsoft outperformed market expectations in 15 of the 16 quarters in which revenue growth exceeded expectations. Although Microsoft missed the sell-side's consensus top-line forecast in only one quarter (quarter ended December 2018), its revenue was only -0.1% below that forecast.

In addition, Microsoft is valued at an Enterprise Value-to-Revenue multiple forward next year of 10.2 times, which is the highest value among all of the FAANGM companies. MSFT is expected to be valued at a relatively high Enterprise Value-to-Revenue multiple even though its forward revenue growth rates may not be among the highest. This is because its revenue growth rates are predictable and visible.

75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Amazon (AMZN)

With a top-notch management team, Amazon has long been considered one of the more desirable stocks to own. In addition, Amazon has always been dedicated to long-term goals, customers, and innovation at all costs. Amazon's CEO, Jeff Bezos, has always advocated for these values.

Since an increasing number of people are turning to online shopping due to the flu pandemic, Amazon continues to see new opportunities, and, in addition to its record-breaking fourth-quarter earnings, AMZN forecasts that first-quarter revenue will be between $100 billion and $106 billion, which is a good bit higher than analysts' consensus of $95.8 billion. An earnings report or strong prior quarter are not as valuable to Wall Street as a company's future.

A lot depends on the health and purchasing power of consumers for Amazon's e-commerce business. In addition to cloud computing, it has also ventured into advertising as part of its diversified business model. It's likely that Amazon will continue to grow in all three of its core businesses over the long-term: e-commerce, cloud computing, and online advertising, which offers the company a lot of potential.

75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Best Growth Stocks to Buy Now

Several big technology companies are among the best growth stocks to buy, including Apple Inc, Microsoft Corporation, Amazon.com, Tesla, and many others. Their dominance in the market has been significant for many years now. Taking the time to analyze the market is always the key to identifying which stocks to buy.

Is Worth Investing in Stocks

Investments for the future are now necessary - whether they are for five, ten, or fifty years from now. The stock market will not pull back in the long run. So when you have more than tenfold your investment, will a 10% difference make a significant difference?

Moreover, if you consistently invest over time, you will likely catch a correction or crash if you keep adding cash to your investments. With cash in the bank, you might be able to invest a little more than usual. It can be difficult to plan for unforeseen events. If predicted, a stock market crash would never happen.

It may not be easy to find good buying opportunities when market valuations increase. While fewer stocks will present value relative to their underlying fundamentals, there will still be opportunities. The market will always undervalue securities at a time when investing is a good idea.


Markets cannot be predicted, according to Warren Buffett. As a result, they seek out securities at a discount. As a result, whatever the market doesn't matter to it.

The stock price should be good when you buy it. If your research produces long-term results, you can stick with it even if you suffer short-term losses. Still, don't ignore the company entirely; make sure you are on the right track.

Stocks with high growth are not always doomed to failure. Growth stocks tend to decline in price during a correction or crash, but these periods can also stimulate growth. Companies whose management teams focus on long-term growth benefit from market fluctuations caused by economic events. Consequently, your stock may rebound even after a decline.

The slight price drop may cause investors to believe that more losses are on the horizon. However, the chances of a market crash are much lower. They happen almost every year. If you purchase stocks now, you can get discounted prices.

Step 3: Open Account & Invest with Capital.com

Once you have learned what you should look for in stocks and how to find the good stocks to buy at the proper time, all that is left is to figure out how to do it. In order to illustrate our guide, we will use Capital.com as an example. It is also possible to buy stocks using any best app, as shown above, with multiple suggestions for your consideration. You should easily set up an account without any difficulties since the process is exactly on all of them. Once that has been said, you need to follow the instructions below.

1. Create Your Account

You will have to first go to Capital.com and click on the "Trade Now" button which is located in the upper right-hand corner, which will open a window for you. Following that, you will need to enter a valid email address and a secure password in order to continue. Following that, you can use an existing Google, Apple, or Facebook account to log in.

The validation of your account requires a valid ID documentation, such as a driver's license or passport, as well as a recent bank statement or utility bill.

75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. Verify Your ID

By clicking one button, you can trade a variety of assets after verifying your account. At Capital.com, you can deposit as little as $20. Additionally to debit and credit cards, you can also use PayPal, Neteller, and Skrill to make your payment.

The deposit fees for debit cards and e-wallets are waived. This means that bank transfers typically take between four and seven days to complete.

3. Deposit Funds

If you are unfamiliar with Capital.com, you may want to try out the demo version before trading live. Buy stocks in this way allows you to experiment with different strategies and find out which ones you are most comfortable with. Once you gain experience and analyze your results, you are ready to start trading with real money.

4. Buy Stocks in Nigeria!

You will now be able to purchase stocks. In the search function of Capital.com, you can enter a specific stock's name or ticker directly into the website, which will take you straight to that stock. In addition, the Capital.com stock page allows you to view what Capital.com offers regarding markets.

75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Conclusion

You will most likely make a profit if you invest in the stock market, but you need to look for ways to lower the stock price as much as possible. Moreover, if you wish to accomplish this, you should choose a platform that does not charge commissions. There is more information about how to buy stocks online on Capital.com in this guide than tells you about any of the other online platforms you should consider. To find the best stocks to purchase, you will need to research the two or three best growth companies to buy, and then hopefully, based on the research you conducted, make the right investment decision.

Capital.com – The Best Cryptos Trading Platform in Nigeria


capital.com logo

75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

FAQs

What is a stock?

It is a type of security that represents ownership of a fractional share of a company or organization. There are official exchanges or broker platforms such as Capital.com where stocks can buy and sell.

Can I invest in stocks from Nigeria?

Yes, using the previously explained platforms you can invest in shares from Nigeria.

How can I earn dividends from a stock?

Investing in stocks that pay dividends is a great way to reap the benefits of your investment. However, it would be best to remember that not every stock pays dividends. Therefore, make sure that the ones you wish to buy are among those that offer them.

What are the best stocks to buy nowadays?

Each day, events in their respective companies affect the profitability of stocks. Consequently, no stock is a good buy at any given time. If you want to know what to invest in, you need to examine the market and see what experts recommend, what others are investing in, and which stocks hold the most potential based on their performance.

Should I buy Tesla stocks?

Over the past two years, Tesla's stock has seen consistent growth, which is why many experts believe that it is a good time to invest in Tesla's stock.

How do I buy stocks in Capital.com?

You will need to create an Capital.com account, verify it, deposit money, and start looking for stocks to buy. Then, click the trade button to open the trade window. Finally, complete the details of the trade.

About Carlos Sereno
About Carlos Sereno

Journalist from Universidad Jorge Tadeo Lozano. Translator of Spanish and English. English as a second language. Interested in International media and sports media.