Trove Review: Is It the Best Investment App for Nigerians?
- Simon Zaku
- Mar 19
- 4 min read
Have you ever wanted to invest in U.S. stocks, ETFs, and Nigerian equities but didn’t know where to start? With so many investment platforms available, how do you know which one is right for you?

I’m Simon Zaku, a digital entrepreneur and founder of IBI Foundry. Over the years, I’ve explored different investment platforms to find the best options for Nigerians.
In this Tove review, I’ll take a deep dive into Trove, a popular investment app that allows Nigerians to trade local and international assets. Let’s find out whether it’s worth your time and money.

Table of Contents
What Is Trove?
How Trove Works
Supported Investment Options
Fees and Charges
Security and Trustworthiness
User Experience and App Features
Payment and Withdrawal Options
Pros and Cons of Trove
Is Trove Legit and Safe?
Final Verdict: Should You Use Trove?
FAQs
What Is Trove?

Trove is a Nigerian-based investment platform that allows users to buy and sell stocks, ETFs, bonds, and mutual funds from both local and international markets. With Trove, Nigerians can invest in U.S. stocks like Apple, Tesla, and Amazon while also trading Nigerian equities on the Nigerian Stock Exchange (NGX).
The platform aims to make investing easy and accessible, even for beginners, by providing a simple mobile app that allows fractional investing (meaning you can buy small portions of expensive stocks).
How Trove Works
Trove operates as a digital brokerage, allowing users to deposit funds in naira, convert them to dollars, and invest in global markets. Here’s how it works:

Sign Up: Create an account by providing basic KYC details such as your BVN, valid ID, and email.
Deposit Funds: Fund your Trove wallet using bank transfers, cards, or fintech payment solutions.
Start Investing: Choose from thousands of stocks, ETFs, and bonds available on the platform.
Monitor and Withdraw: Track your investments and withdraw your earnings anytime.
Supported Investment Options
Trove offers a wide variety of assets for investment, including:
U.S. Stocks and ETFs: Amazon, Apple, Tesla, Microsoft, etc.
Nigerian Stocks: MTN Nigeria, Dangote Cement, Zenith Bank, etc.
Government Bonds: U.S. Treasury Bonds, Nigerian Bonds
Mutual Funds: A selection of investment funds managed by financial institutions.
Fees and Charges
Trove charges different fees depending on the asset class:
Deposit Fees: Free for bank transfers, but card deposits may have charges.
Trading Fees:
U.S. Stocks: Around 1% per trade
Nigerian Stocks: Regulated NGX fees apply
Bonds & ETFs: Vary by provider
Withdrawal Fees: Naira withdrawals are free, but dollar withdrawals attract fees.
Overall, Trove’s fees are competitive compared to traditional brokerage firms.
Security and Trustworthiness
Trove partners with registered brokerage firms and custodians to ensure asset security.
The platform follows strict regulatory guidelines and uses encryption to protect user data. Your investments in U.S. stocks are held by U.S. Securities and Exchange Commission (SEC)-registered firms.
Is Trove safe?
Yes, but as with all investments, risks exist, and market fluctuations can affect your returns.
User Experience and App Features
Trove provides a clean and intuitive app interface, making it easy for beginners to start investing.
Features include:
Real-time Market Data: Stay updated on stock price movements.
Fractional Investing: Buy as little as $1 worth of shares.
Educational Content: Learn about investing through in-app guides.
Automated Investments: Set up recurring deposits and auto-invest in your chosen assets.
Payment and Withdrawal Options
Trove supports multiple deposit and withdrawal methods:
Deposit Options: Bank transfer, debit/credit card, Paystack, Flutterwave.
Withdrawal:
Naira: Direct withdrawal to Nigerian bank accounts.
Dollars: Withdraw to a domiciliary account (with charges).
Pros and Cons of Trove
Pros:
Access to both U.S. and Nigerian stocks
Fractional investing makes it beginner-friendly
Low minimum investment amount
Secure and regulated platform
Free naira withdrawals
Cons:
Dollar withdrawals can be expensive
Some stocks have limited availability
Market risks still apply
Is Trove Legit and Safe?
Yes, Trove is a legitimate investment platform. It partners with reputable financial institutions and follows regulatory guidelines.
However, like all investments, there is risk involved, and investors should be aware of market fluctuations.
Final Verdict: Should You Use Trove?
Trove is one of the best investment platforms for Nigerians looking to diversify their portfolios with both local and global assets.
It’s ideal for beginners due to its fractional investing feature and easy-to-use app.
Use Trove if you:
Want access to U.S. and Nigerian stock markets.
Prefer a beginner-friendly investment platform.
Need fractional investing options.
Look for alternatives if you:
Need frequent dollar withdrawals without high fees.
Want to invest in cryptocurrencies (Trove does not support crypto trading).
FAQs
1. How much do I need to start investing on Trove?
You can start with as little as $1 (or its naira equivalent) since Trove allows fractional investing.
2. Can I withdraw money from Trove anytime?
Yes, but dollar withdrawals come with charges, while naira withdrawals are free.
3. Is my money safe on Trove?
Yes, Trove works with licensed financial institutions to secure users' investments.
4. Does Trove support cryptocurrency investments?
No, Trove focuses on stocks, ETFs, bonds, and mutual funds.
5. Can I use Trove outside Nigeria?
Trove is designed for Nigerian residents, but you may access your account abroad if your linked Nigerian bank account remains active.
Simon Taki Zaku,
Founder, CEO, IbiFoundry.com.ng
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