Looking to start investing but don’t know where to begin? You’re not alone. In Nigeria, more people are realizing that saving alone isn't enough to build wealth. 

 

Investment has become a key strategy for financial growth, and thanks to technology, it’s now more accessible than ever. The rise of digital investment platforms has played a crucial role in promoting financial inclusion in Nigeria, allowing individuals from all income levels to access wealth-building opportunities that were previously out of reach.

 

In the past, investing required working with brokers or financial institutions, and the process was often complex with high fees. But today, investment apps have changed the game, allowing beginners to start with minimal capital, user-friendly interfaces, and educational tools that simplify everything..

 

In this guide, we’ll explore the 10 best investment apps for beginners in Nigeria, helping you find the right platform to grow your wealth with confidence.

 

Criteria for Selecting the Best Investment Apps

Selecting the right investment app is crucial to ensuring a smooth and successful investment journey. Before committing your money, evaluate key factors that impact usability, security, and profitability. 

 

Here are the essential criteria to consider when choosing the best investment apps for beginners in Nigeria:

• User-Friendly Interface – A simple and intuitive design that makes investing easy, even for beginners.
• Strong Security Measures – Advanced encryption and fraud protection to safeguard your funds and personal data.
• Diverse Investment Options – Access to stocks, mutual funds, fixed-income assets, and other opportunities to diversify your portfolio.
• Low Fees and Charges – Competitive pricing with minimal transaction costs to maximize your returns.
• Reliable Customer Support & Educational Resources – Responsive support teams and in-app learning tools to help you make informed decisions.

 

10 Best Investment Apps for Beginners in Nigeria

Here are the 10 best investment apps for beginners in Nigeria, each offering different unique features and benefits:

1. Risevest
2. Bamboo
3. PiggyVest
4. Trove
5. Chaka
6. Cowrywise
7. Wealth.ng
8. InvestBamboo
9. I-Invest
10.  Payvest

 

1. Risevest

 

Features and Benefits

• Invest in US stocks, real estate, and fixed-income assets to diversify your portfolio.
• Easy-to-use, beginner-friendly interface that simplifies investing.
• Protect your investments from Naira depreciation with dollar-denominated assets.

 

Investment Options

• US Stocks
• Real Estate
• Fixed Income

 

Pros

• Start investing with low capital, making it great for beginners.
• Enjoy professional portfolio management if you prefer passive investing.
• Offers high return potential compared to traditional savings.

 

Cons

• Limited local investment options.
• Withdrawals can take up to three days to process.

 

2. Bamboo

 

Features and Benefits

 

• Access over 3,000 US stocks and ETFs, giving you a vast selection.
• Invest in fractional shares, allowing you to start with as little as $1.
• Get real-time market insights to make informed decisions.

 

Investment Options

• US Stocks
• ETFs

 

Pros

• Beginner-friendly platform with an intuitive interface.
• Start investing with as little as $1.
• Fast deposits and withdrawals, ensuring smooth transactions.

 

Cons

• Limited support for Nigerian stocks.
• Transaction fees apply to some investments.

 

3. PiggyVest

 

Features and Benefits

• Primarily a savings app, but also offers investment options.
• Choose between fixed and flexible investment plans based on your needs.
• Enjoy competitive interest rates on savings and investments.

 

Investment Options

• Fixed & Flexible Savings
• Investment Opportunities

 

Pros

• Encourages financial discipline through automated savings.
• Offers high interest rates compared to traditional banks.
• No maintenance fees on accounts.

 

Cons

• Limited stock investment options, making it less diversified.
• Not as comprehensive as dedicated investment apps.

 

4. Trove

 

Features and Benefits

• Invest in US, Chinese, and Nigerian stocks for a diverse portfolio.
• Supports cryptocurrency and ETF trading.
• Offers educational resources for beginners.

 

Investment Options

• US, Nigerian, and Chinese Stocks
• ETFs
• Cryptocurrency

 

Pros

• Wide range of investment options compared to competitors.
• Low transaction fees, making investing cost-effective.
• Strong customer support for troubleshooting and guidance.

 

Cons

• Requires internet access for real-time trading.
• May experience lags during high market activity.

 

5. Chaka

 

Features and Benefits

• Access both Nigerian and global stock markets.
• User-friendly interface designed for beginner investors.
• Start investing with as little as $10.
• Get professional guidance for stock and ETF trading.

 

Investment Options

• Nigerian & Global Stocks
• ETFs

 

Pros

• Regulated by the Nigerian SEC, ensuring security.
• Simple platform for easy investing.
• Secure transactions with robust safety measures.

 

Cons

• Higher fees for international trades.
• No fixed-income investment options available.

 

6. Cowrywise

 

Features and Benefits

• Focuses on savings and investment plans.
• Offers automated investment options to grow your money effortlessly.
• Provides high-yield savings accounts with competitive interest rates.

 

Investment Options

• Mutual Funds
• Savings Funds

 

Pros

• Low minimum investment, making it great for beginners.
• Strong financial planning tools to help you set goals.
• High interest rates on savings and investments.

 

Cons

• Does not support stock investments.
• Limited withdrawals for fixed plans.

 

7. Wealth.ng

 

Features and Benefits

• Invest in Nigerian stocks, mutual funds, and fixed-income assets.
• Get professional investment advice to maximize returns.
• Directly invest in Nigerian assets for localized opportunities.

 

Investment Options

• Nigerian Stocks
• Mutual Funds
• Fixed Income

 

Pros

• Strong local market presence for those focusing on Nigerian investments.
• Expert financial guidance for smarter investment choices.
• Competitive return potential.

 

Cons

• No international stock investment options.
• Requires higher starting capital than some competitors.

 

8. InvestBamboo

 

Features and Benefits

• Invest in global stocks, ETFs, and Nigerian stocks.
• Get real-time market updates to track investment performance.
• Start investing with as little as $1.
• Allows automated investing, making it easier to grow your portfolio.

 

Investment Options

• Global Stocks
• ETFs
• Nigerian Stocks

 

Pros

• Wide range of stock trading options.
• Diverse asset selection for better portfolio building.
• Simple and easy-to-use platform.

 

Cons

• Service charges apply to transactions.
• Limited local asset options.

 

 

9. I-Invest

 

Features and Benefits

• Government-backed investment platform, offering stability.
• Allows direct investment in treasury bills and bonds.
• Provides low-risk, stable returns.

 

Investment Options

• Treasury Bills
• Bonds

 

Pros

• Government-backed security, ensuring safety.
• Low-risk investment options for conservative investors.
• High liquidity, making it easy to access funds.

 

Cons

• Limited investment options outside of treasury bills and bonds.
• Lower returns compared to stock investments.

 

10. Payvest

 

Features and Benefits

• Focuses on savings and fixed-income investments.
• Provides a simple and user-friendly platform.
• Offers real-time tracking of investment returns.

 

Investment Options

• Savings Plans
• Fixed Income

 

Pros

• Low fees and charges, making investing affordable.
• Strong customer support to assist investors.
• High return potential on fixed-income investments.

 

Cons

• Limited local investment options.
• Does not support stock trading.

 

Comparison of the Best Investment Apps in Nigeria

 

Best for Stock Investments

Bamboo and Trove are the top choices for stock investments, offering extensive market access, including US, Chinese, and Nigerian stocks. They also provide low minimum investment requirements, making them accessible for beginners.

 

Best for Saving and Earning Interest

PiggyVest and Cowrywise stand out for their high-interest rates and flexible withdrawal options. If you're looking to grow your savings while earning competitive returns, these platforms offer the best options.

 

Best for Low Fees and Transaction Costs

Cowrywise and Risevest are the most cost-effective investment platforms, with zero trading or maintenance fees. They are ideal if you want to maximize returns while minimizing costs.

 

Best for User Experience and Customer Support

Bamboo and PiggyVest offer intuitive, user-friendly interfaces that simplify investing. Additionally, both platforms provide responsive customer support, ensuring a smooth experience for users at all levels.

 

How to Invest and Withdraw from Investment Apps in Nigeria

Here’s a step-by-step guide to help you start investing and withdraw your profits from investment apps in Nigeria.

 

1. Choose the Right Investment App

• Research and select an app that aligns with your investment goals, offers a secure platform, and has favorable fees.

 

2. Create and Verify Your Account

• Download the app from the Google Play Store or Apple App Store (or use the web platform if available).
• Register with your personal details and complete the verification process, which may require submitting a valid ID and proof of address.

 

3. Fund Your Investment Account

• Deposit money into your investment account using any of the available payment methods:
  • Bank transfer
  • Debit/credit card
  • USSD code
  • Mobile wallets (e.g., Opay, PalmPay)

Investing through apps is one of the many ways to generate passive income. If you're interested in broader online income opportunities, check out our guide on how to make money online in Nigeria, covering various methods beyond investments.

 

4. Select an Investment Option

• Choose the type of investment that best suits your financial goals. Common options include:
  • Stocks
  • ETFs (Exchange-Traded Funds)
  • Mutual Funds
  • Real Estate
  • Fixed Income Assets
  • Cryptocurrency

 

5. Monitor and Manage Your Portfolio

• Track your investments regularly to evaluate performance and make adjustments when necessary.
• Use tools provided by the app, such as performance charts, risk assessments, and automated strategies.

 

6. Understand Withdrawal Rules & Limits

• Review the platform’s withdrawal policies, including minimum withdrawal amounts, processing times, and fees.

 

7. Initiate a Withdrawal Request

• Select your preferred withdrawal method, such as:
  • Bank transfer
  • Mobile wallet
  • Crypto wallet

 

8. Complete Security Verification

• Some apps require additional security steps, such as two-factor authentication (2FA) or identity verification, before processing withdrawals.

 

9. Confirm & Track Your Withdrawal

• Once your request is approved, monitor your transaction to ensure it is processed successfully within the expected timeframe.

 

Key Factors to Consider When Choosing a Crypto Investment App

 

• Security – Does the platform offer strong encryption, two-factor authentication (2FA), and cold storage for assets?
• Payment Methods – Are there multiple ways to deposit and withdraw funds, such as bank transfers, debit cards, or mobile payments?
• Transaction Fees – What are the fees for deposits, withdrawals, and trades? Are they competitive compared to other platforms?
• Customer Support – Is assistance available 24/7 in case of issues? How responsive is the support team?
• Liquidity – Can you buy and sell assets quickly without significant price fluctuations?
• User Interface – Is the platform beginner-friendly, or does it cater more to experienced traders?

 

Challenges and Risks of Using Investment Apps

While these investment apps have made investing more available and easy to access, they also come with certain challenges and risks that investors-especially beginners- should be aware of.

 

By understanding these risks and implementing effective strategies, investors can navigate through the difficulty of the markets and still make better returns.

 

 

Conclusion

Investing in these investment apps can be so easy and convenient. However, successful investing requires more than just choosing the right app, it involves understanding market trends, managing risk, and adopting a disciplined investment strategy. 

As a beginner, ensure you follow all steps in accordance, leverage the strength of the platforms, compare them to one another, make research on your own, follow expert advice and as a beginner investor, you will achieve financial independence and long-term growth. 

Goodluck!

 

Funfact:: As part of financial literacy efforts,  we did the Back to School Project aimed to educate students about money management and smart investing from a young age, preparing them for future financial independence.