You can buy stocks or shares in Nigeria easily by following the easy steps we’ll be listing in this post. There are easy ways you can buy stocks without stressing yourself or losing your money. Thus, in this post, we’ll be looking at how to buy stocks or shares in Nigeria.
This is a perfect guide for anyone, dummy or an expert in the business if buying stocks and shares. This post will guide you properly. Now, let’s take a look.
How to Buy Stocks or Shares in Nigeria
There are things you should know or guidelines you should know while gearing to buy Nigeria stocks or shares. The number 1 fact is that stocks and shares can only be bought from the Nigerian Stock Exchange (NSE). So, all that we’ll be treating here is connected to the businesses and activities of the NSE.
What are the steps to buy stocks or shares in Nigeria?
1. Get a Professional and Knowledgeable Stock Exchange Broker
The business of the NSE from the investors’ side is run through the intermediary of the stock exchange broker. You should make a research and get stock exchange brokers who will guide you on how to get stocks, get the stocks for you sometimes, and even lead you on the right stocks to buy. Endeavor to go for the professional and trusted stock brokers.
When you get one, you have to register with them. There are a lot stock brokers in Nigeria–offline and online.
2. Open a CSCS (Central Securities Clearing System) Account
The next step is opening a CSCS account with your stock brother. It is with this account that you’ll do all your stock trading. Personal details like your NIN, BVN, passport, residential address, and other pieces of information will be needed for the registration. This can be done online or offline.
3. Fund your Account
The next step is to fund your account. After a successful registration of your account, the next step to take is to fund your account. It is with this account and the fund in it that you can successfully trade.
4. The Act of Stock Trading in Nigeria
The next step is when you do what you bought your account for–stock trading. You should always use your stock trader as your guide as they lead you on how to trade and the important stocks to buy.
You should know that the Nigerian Stock Exchange does business from Monday to Friday, and trading hours is between 10 am to 2 pm on these days. Therefore you can only buy stocks or shares around this time.
In addition, you need to know the time of the year to buy stocks, and what stocks you should buy for profitability. You should also know when to sell or hoard for maximum profit.
5. Bonus, Profits, and Sales in Stocks Trading
You can make money from stocks through bonuses, profits, and sales. There are many ways to make money from stocks and shares in Nigeria. So, you should know the one that will work for you and be more profitable for you as well.
6. The Idea of Longetivity in the Business of Stocks
There are Nigerians and people whose main source of income is investing in stocks and shares. However, to be among these people, you have got to be very wealthy and invest from 15 million naira and above in the NSE.
You can choose to keep reinvesting or recreating what you have done if your first attempt was a success. You should always go for the viable and profitable stocks, and you’ll earn well.
This is it on how to buy stocks or shares in Nigeria. This post will guide you well on the right things to do. You can make a great amount of money by choosing the profitable and right stocks to buy.