Yes, you can. Bamboo is an investment platform, not a savings account, and there are three separate ways to lose money on it: the shares you buy can fall, the naira can strengthen against the dollar, and fees can quietly eat a small or frequently traded balance. None of those means the app is a…
Five apps do most of the investing in Nigeria: PiggyVest, Cowrywise, Bamboo, Trove and Risevest. They are not competing for the same job, which is why comparing them on returns alone tells you almost nothing. PiggyVest and Cowrywise are savings platforms that added investing. Bamboo and Trove are brokerages that let you buy shares. Risevest…
Short verdict: Bamboo is a legitimate, SEC registered way for Nigerians to own US shares, and it is best suited to someone investing a meaningful amount and leaving it alone for years. It is a poor fit for small balances traded often, because a 1.5 per cent trade fee and a flat $45 dollar withdrawal…
Yes. Bamboo was built for Nigerians, it is registered with the Securities and Exchange Commission in Nigeria, and you can open an account with a Nigerian phone number, a Nigerian bank account and a BVN. Nothing about using it from Nigeria requires a foreign address or a foreign card. The longer answer is about what…