TROVE APP REVIEW ( IS TROVE APP LEGIT OR A SCAM?)

The stock exchange market is one of the oldest markets in man’s existence. However these days many people are more concerned about making quick money and that isn’t exactly what the stock market offers. Trading stocks have become super easy now, just by the click of a button you can trade both local and international stocks. Trove App is one of such apps that give you access to buy and sell local and international stocks. However we would dissect into their modus operandi to know whether they are legit or just scam.

WHAT ARE STOCKS?

A stock is a security that represents ownership of a fraction of a company’s asset. Stocks come with profits that are accrued to the fraction owned.

WHAT IS TROVE?

Trove is an online investment platform, an app actually which helps Nigerians buy and sell both local and international stocks using their smartphones with investments as little as #1,000.

FEATURES OF THE TROVE APP

• Minimum investment fee of #1,000
• The required documents are government issued identification and a utility bill.
• You can monitor your stocks on the app.
• You can hold your stocks for as long as you choose.
• You can use a Nigerian bank issued Visa, Verve or master card.
• You’re charged 1.5% + #100 for transactions over #2,500.
• You can withdraw your uninvested cash in 3 working days and if you want to withdraw beyond your balance, you would need to sell some securities. The minimum withdrawal on foreign securities is $50.
• Your personal information is highly protected by the system.
• The Trove app is currently only available for android devices.

HOW DOES TROVE APP WORK?

With the Trove app, you can trade in the US, Chinese and Nigerian Stock exchange market. On the app, you would need to set up your naira wallet for local trade and dollar wallet for foreign trade. After providing the necessary details required, your documents would be reviewed and approved before you can start trading.

HOW TO SIGN UP ON THE TROVE APP ( TROVE REGISTRATION)

Download the Trove app from the Google Play Store, Fill the account opening form(on the app), Fill your investment profile, Fill out the funding and liquidity section stating the source of your funds and how much liquidity you have. Choose your risk tolerance and state if you’re politically exposed. Complete your profile and upload the necessary details. After doing this, your account would either be approved with a confirmatory email from Trove, otherwise you would be asked to make corrections. Once your account is approved, you can proceed to fund it and start investing.

HOW TO FUND YOUR TROVE WALLET?

To start investing, you can fund either your naira or dollar wallet using Paystack or any other payment option available on the app.

HOW TO BUY SHARES ON TROVE APP?

When your account is approved, you can start buying stocks by tapping on the “+” icon, this would direct you to the “All Assets” page and you can search to see your preferred stock and if it’s available for trade. To buy shares, search for your desired company, click on “Buy Shares”, enter the number of shares you want to buy and click on “Proceed to payment”. Review your transaction and click on “Confirm Transaction”, agree to the terms and conditions then click on “Continue” to confirm.

IS TROVE APP LEGIT?

Trove App is a registered and legit platform. They have affiliations with ARM investment which manage their investment portfolio, Sigma securities and Drive wealth LLC.

The app is also built to be encrypted with 256 bit encryption protecting your data.

FREQUENTLY ASKED QUESTIONS (FAQ’S)

Is trove app legit?

Trove App is a registered and legit platform. They have affiliations with ARM investment which manage their investment portfolio, Sigma securities and Drive wealth LLC.

The app is also built to be encrypted with 256 bit encryption protecting your data.

How to sign up on trove app?

Download the trove app from the Google Play Store, fill out the account opening form, provide all the necessary details required, submit and wait for your account to be approved.

CONCLUSION

Trading foreign securities used to be very difficult and expensive in the past, now with apps like trove, one can conveniently trade both locally and internationally.

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