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Passfolio Brings Commission-free US Stock Trading to Nigeria

US broker-dealer Passfolio now supports BVN verification and local bank transfers in Nigeria! 

As of December 2020, Passfolio clients in the country can convert Naira into US dollars to fund their accounts and invest in over 3.800 United States stocks, ETFs and REITs.

Naira deposits convert to USD through Passfolio Financial and allow the purchase of stocks from the US market with Passfolio Securities.

Passfolio clients can also deposit and trade cryptocurrencies like Bitcoin and Ethereum through Passfolio Financial*. In fact, you can trade over 20 cryptos on Passfolio at the moment, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Zcash, Orchid Token (OXT), Basic Attention Token (BAT), Chainlink (LINK), and the Dai Stablecoin (DAI).

To purchase securities using cryptocurrencies, you must first convert it into U.S. Dollars using Passfolio Financial LLC. You must then move the U.S. Dollar proceeds to your brokerage account at Passfolio Securities LLC where you can use it to buy securities.

‍Passfolio Financial’s cryptocurrency support enhances its global reach because cryptos are truly borderless assets. For those who don’t know, cryptos can be transacted electronically and are generally not issued by any central authority, which is why they can be used almost anywhere in the world.

*‍Currency and cryptocurrency exchange services provided by Passfolio Financial LLC (“Passfolio Crypto”), a US Money Services Business registered with FinCEN. Passfolio Financial LLC is not a broker-dealer. Cryptocurrencies are not protected by FDIC or the SIPC.‍

What are the fees and charges?

Passfolio charges no account maintenance or commission fees for stock trading (except for securities less than $5, which cost $0.02/share). The company makes money from other sources such as: 

  • Interest on the uninvested cash in user accounts through a sweep account.
  • Foreign exchange fees through some of our deposit methods.
  • Premium subscription features that will be launched soon – stay tuned!

*Please click here to get a clear view of any applicable fees or charges related to third party applications. Please see a full breakdown of Passfolio’s fees here.

How much money do I need to get started?

Passfolio supports fractional shares, so you can buy pieces of stock as a more affordable alternative to owning full shares. With fractional shares, you can invest as little as US$1 in any stock, which may help with portfolio diversification. 

For more information, please see Passfolio’s disclosures on fractional shares

What do I need to create a Passfolio account?

To start investing in the US market, download Passfolio on the App Store or on Google Play. You can also sign up online here. To create a Passfolio account, you just need to be at least 18 years old and submit some basic information.

‍After submitting your information through the app, your application will typically be reviewed and you will receive a response within one business day. If any additional information is required pending, Passfolio will get in touch by email. 

What are you waiting for? Become a global investor today

This content is sponsored by Passfolio. Create an account in less than 10 minutes and start investing in the US today www.passfolio.us 

* Securities less than $5 cost $0.02/share. Please see Passfolio’s disclosures on other charges: https://passfolio.us/fees

Please read important legal disclosures: https://passfolio.us/legal

Securities and cryptocurrencies are very different types of assets. Cryptocurrencies are not securities. Purchasing cryptocurrencies comes with a number of risks. Please read Passfolio Financial Cryptocurrency Risk Disclosure.

Currency and cryptocurrency exchange services provided by Passfolio Financial LLC, a US Money Services Business registered with FinCEN. Passfolio Financial LLC is not a broker dealer. Cryptocurrencies are not protected by either FDIC or SIPC. Securities products and services offered to self-directed investors through Passfolio Securities LLC Member FINRA / SIPC. 

Passfolio Securities, LLC does not provide cryptocurrency-related services. Passfolio Securities LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org. Passfolio Securities LLC, Passfolio Financial LLC and Panchain, Inc. are separate but affiliated companies. 

To purchase securities using cryptocurrencies, you must first convert it into U.S. Dollars using Passfolio Financial LLC. You must then move the U.S. Dollar proceeds to your brokerage account at Passfolio Securities LLC where you can use it to buy securities.

Sponsored by Passfolio

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