In today’s world, investing has become more accessible to everyone with the use of technology. One such platform that has made investing easier for individuals is Trove.
Trove is a digital platform that allows individuals to invest in global markets from their mobile phones. This article will guide you through the process of creating a trading account with Trove.
Step 1: Download Trove App :Trove is currently available on iOS and Android. You can download the app from the App Store or Google Play Store.
Step 2: Provide Your Bank Verification Number (BVN) : The first requirement for creating an account with Trove is your Bank Verification Number (BVN). This requirement has been mandated by the Securities and Exchange Commission and the Central Bank of Nigeria to reduce incidences of fraud and money laundering.
Step 3: Upload Required Documents : To sign up for Trove, you will need to provide the following documents:Valid driver’s license, International Passport*, National ID Card, or Voters registration card.Proof of address is required when opening an account with an International Passport or if your current address is different from what is displayed on your ID. Accepted proof of address documents are Bank statement, Utility bill, Estate Dues Statement, or Rent Agreement (Address Page).
Step 4: Create Brokerage Account : After creating your Trove account and uploading all the necessary documentation, your U.S. brokerage account is automatically created with DriveWealth LLC., Trove’s US partner, and Sigma Securities Ltd or ARM Securities, both SEC Registered stockbrokers. Account approval typically takes 1 business day.
Step 5: Fund Your Account: Once approved, you can fund your brokerage account using either the bank transfer method or with a debit card. The funds become available in your brokerage account, typically within 1 – 2 business days, and you will be able to make investments on Trove.
Step 6: Make Investment Choices: Once the funds become available in your brokerage account, you can make investment choices on Trove. The platform provides extensive research and support to help you make informed investment decisions.
