You can buy stocks on the trove app using the information provided in this article if you are looking for business avenues to expand your profit margin.
Intended to help enterprising young investors increase their business, the Trove App proves to be an invaluable tool for many people who buy stocks on the Trove app to earn more profit off the NSE.
This investment platform can be accessed by the general public, and anyone working in the public domain sectors can buy stocks using trove by following these easy steps to get started.
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How to Get Started and Buy Stocks on the Trove App
Bear in mind that this is an online trading platform that allows you to buy stocks on the trove app. What this implies is that your first step should be to download the Trove App on your mobile device.
You can start by downloading the application from the Play Store on your iOS and Android.
Once you have downloaded the app, you can proceed to the next stage which is signing up.
Signing Up for a Trove App
Just like the rest of the steps you will need to take before you can be able to buy stocks on the trove app, signing up for this app is easy and occurs in a short period.
These are the requirements:
- Email Address,
- A strong password (usually comprises numbers, letters, and symbols)
- A referral code (if any),
- Knowledge of Investment,
- Legitimate source of finance,
- Ability to pay off debts,
- Checks your susceptibility to risk,
- Political Exposure, if any (this is only done because a clause in the law of the US demands it).
Getting your Trove App Profile Completed
Continuing on how you can buy stocks on the trove app, you must fill out the relevant spaces in your profile. These spaces are
- Personal details: likely your date of birth, marital status, etc.
- Details bordering on your residency
- Information about Your Bank Account
- Upload Documents
- Your next of kin
These should not be hard to provide.
To give you a clue as to what would be optimum for the Upload document section, you should have the following relevant documents on your mobile device:
Utility Bill: this can be electricity bills, bank payment vouchers, other relevant receipts, etc.
Provide your valid ID: any one of your voter’s cards, national identification cards, international passports, etc. can serve.
An appropriate facial picture of yourself
Upload a legible picture of your signature snapped on a white background.
As with the previous processes, this can be done in a matter of minutes.
Your profile will usually undergo review and verification in the span of 1-2 days, but you should not defer other steps involved in this process.
Actually, you cannot buy stocks on the trove app without firstly, making sure that you have funded your wallet. We will tell you how to do this in the following section.
Trove Account Wallets
Having opened your trove account, you will notice that you have two wallet options such as
- Naira wallet, and
- Dollar wallet
As the names suggest, the naira wallet allows you to invest in bonds and stocks in Nigeria. On the other hand, you can make foreign investments using your dollar wallet.
To buy stocks on the trove app using your dollar wallet, the amount traded in the country in which the transaction is done will be first converted to naira. This is because the Trove Company does not uphold profiles with domiciliary accounts or dollar cards.
Note: payments into either of the accounts start once it has been duly verified.
Buy stocks on the Trove App once verified
If your account has been verified, you can proceed to buy stocks, irrespective of the asset you wish to invest in.
This can be done by,
- Going to the overview screen, which is now empty pending when you buy stocks on the trove app.
- Locate the + symbol and Click on it
- You will be shown a page marked for All Assets
You will see ETFs, Nigerian Stocks, Foreign Stocks, and Bonds, as alternatives on the page.
You can see that the interface is easy to use. The remarkable features are
Market Status: this shows when you can trade depending on whether the update shows OPEN or CLOSED.
A search space: this helps you to locate any entries on the list of stocks available on the app.
An automated page requesting that you “Complete Your Profile”, if you did not complete this initially.
You can proceed to buy stocks on the trove app by writing the value of the shares you have chosen.
Click Proceed To Payment.
A page shows up, allowing you to review your entries and correct any mistakes
Continue by clicking on “Confirm Transaction”
Accept the requisite conditions of the transaction by clicking on “I Agree. Continue”.
Once this has been done, you have just invested in the stock you indicated. It is just as easy and simple as that.
Requirements to Open an Account on Trove
For you to register an account on Trove, you will have to provide these requirements
- Bank Verification Number (BVN)
You will also need to provide a means of identification, so make sure that you have at least one of the following below.
- A Valid driver’s license
- An international passport
- Your National ID Care (NIN)
- A voter registration card
in case you are going to make use of your international passport or maybe the address that is seen on your ID is not current, you will be asked to submit proof of the address document. and it can be the following below.
- Bank Statement
- A unity bill
- Estate Dues Statement
- A rent Agreement (That shows your address)
How to Buy Shares on Trove
you can only buy shares on Trove after funding your account. And Trove allows you to buy fractional shares in companies like Apple, Google, and Facebook. and you also do not have to be scared or sad that a company’s share price is high.
But as long as you are a user of this platform, you can buy a fraction of one share at a low price of $10. and you can also buy a fraction of a share with the fractional share, instead of buying a full share that can cost hundreds of dollars
however, to be able to buy shares on Trove, follow the steps below.
- You will first click on the search icon that is at the top right coner of your dashboard
- When will search for the Shares, Stocks, EFTs, index funds, etc. but we can use company XYZ as a case study.
- After that, company XYZ will appear among the search results. then you click on it. when you click on it, you will be taken to the overview page for the XYZ stock
- You can also see the share price on the page and even the history graph over a certain period of time.
- After that, you click on “Buy Share” and you can be a fraction if you can afford a share.
- Then you can set the order type as a market.
You will see a Pop-up appear on your device and you will be willing to accept the terms of the transaction. when you accept, you will then click next.
after that, you will be allowed to have a share in the XYZ company. you can also use this method to buy other local and foreign stocks, ETFs, and bonds.