Chaka, a global trading and investment platform, has launched in Nigerian to provide customers access to over 4,000 local and foreign assets.
Speaking during the launch, Chaka’s Chief Executive Officer, Tosin Osibodu, referred to the platform as a personal international passport for investment in foreign assets.
“With booming growth in many nations around the world, investors can now own a stake in the growth of other economies. Yet, for many Nigerians, this is a daunting task. We created Chaka to fill this gap, and likewise, give the global community access to local capital markets.”
Tosin Osibodu, Chief Executive Officer, Chaka
Chaka allows users to invest in stocks listed on NASDAQ, the New York Stock Exchange, the Nigerian Stock Exchange and 37 other exchanges.
Investing in stocks has proven to be one of the most profitable ways to build wealth. And Chaka offers this opportunity to invest in a mix of companies like Apple, GTBank, Google, Dangote Cement, Alibaba, Manchester United and thousands more of your favourite companies right from your phone.
How Chaka works?
Chaka removes all the red tapes of disconcerting paperwork and huge charges of employing stockbrokers to provide a fast track verification process that gets you trading as fast as possible. Their premium access likewise gives access to borderless local and global opportunities according to Osibodu.
“Our goal is to provide premium borderless trading and investment opportunities for Nigerian professionals and investors. Chaka facilitates access to assets listed on the Nigerian stock exchange, American stock exchanges as well as global blue-chip companies from 40+ countries around the world.”Tosin Osibodu, Chief Executive Officer, Chaka
The platform is affordable as users can invest with both Naira and Dollar with as little as $50 (about ₦18,075). With Chaka’s fractional investing, users can invest in any asset irrespective of the unit price and also experience frictionless and painless withdrawals.
What differentiates Chaka from existing investment platforms?
Chaka provides opportunities for local investors to explore international markets and diversify their portfolios into African and global capital markets. This is unlike existing investment platforms like PiggyVest and CrowryWise who are majorly saving platforms that provide investment options on your savings on their platform.
However, there is Trove a similar trading and investment platform like Chaka which provides access into bigger markets like the New York Stock Exchange (NYSE), and London Stock Exchange (LSE) but Chaka having access to over 37 exchanges provides a wider spectrum to invest in Globally.
Chaka maintains a user’s brokerage account through bank-grade AES encryption software that protects the communication between the user’s device and the servers. All local brokerage accounts and global dollar brokerage accounts are insured by the Investors Protection Fund.
Chaka also complies locally with the Securities and Exchange Commission (SEC), Central Securities Clearing System (CSCS), and the Nigerian Stock Exchange (NSE). And globally with the U.S. Securities and Exchange Commission and Financial Industry Regulatory Authority (FINRA), among others.
Some of the wealthiest people in the world own large quantities of stocks in both the private and public sector. Chaka is providing an easy way for an average Nigerian to invest. This helps to break the myth that investment in the capital market is difficult and for the rich.
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