It may appear that the economies of nations are taking a downturn. It may take a while, but a rising is coming (can I get a hallelujah somebody). Investing in stocks is an opportunity to buy into solid companies that are also experiencing a downturn and whose share prices have dropped in the interim.
Here is a quick guide on how to start investing in Nigerian Stocks:
Have a plan: Identify your short-term and long-term goals. How much do you need to achieve them? How much do you currently earn and how can you improve your earning? Do you have an emergency fund? How much can you consistently invest over a period to achieve your goals?
Research: Now that you know what your goals are and you understand your financial situation, it’s time to understand the type of investment that is best for you. If you’re younger, have longer time to achieving your financial goal and not averse to taking risks, the stock market is best choice. To understand the stock market, you can subscribe to newsletters for stock market research updates and insights to guide you on what to buy or sell. You can also decide on a hands-off approach, where you leave it to a professional stockbroker to handle things on your behalf.
Choose a preferred stockbroker: If you’re investing large volumes of money, it’s advisable to choose a stockbroker, that is a dealing member of the Nigerian Exchange (NGX) and is registered with the Securities and Exchange Commission (SEC) of Nigeria, that executes orders in the stock market on behalf of investors. In choosing a stockbroker, important factors to consider include their ease of access, their reputation, and their status (active or inactive) with the NGX/SEC. To know if a broker is licensed by SEC, go to https://sec.gov.ng/cmos/ and search the stockbroker.
Parthian Securities Limited is a market leader in equities and investment research licensed and regulated by SEC. Click here to contact speak to a professional broker.
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Use a trusted investment App: The best stockbrokers have apps that make it easy and secure for you to view and manage your investment portfolio online while allowing you to transparently grow your assets. This option is suitable for smaller volumes of investments where you don’t need a broker to manage your funds. The Parthian Securities’ digital partner, i-invest App does exactly this and is available for iOS and Android devices.
Fund your account and start trading: online registration will require you to provide your bank account details which enable you to fund your account and start trading yourself. Alternatively, your stockbroker will provide you with their bank account details and they will fund your trading account as soon as any payment you make is confirmed; this will enable them to trade on your behalf with agreed-upon instructions.
And that’s it, you’re poised to reap the benefits of your investments.
At Parthian Securities, we encourage everyone to take ownership of their financial life by asking questions and getting information that matters.
Our research and insights bring you information that fosters smart decision-making because we believe that the best outcomes in life come from being fully informed.
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