How to Buy Royal Exchange Stock in Nigeria
How to Buy Royal Exchange Stock in Nigeria revealed. We tested and verified the best way to buy Royal Exchange Stock in Nigeria.
This is a complete guide on how to buy Royal Exchange Stock in Nigeria.
In this in-depth guide you’ll learn:
- What is Royal Exchange Stock?
- How to buy Royal Exchange Stock in Nigeria?
- Is Royal Exchange a loser or a gainer in the Nigerian Stock Market?
- How to buy Royal Exchange Stock for beginner traders?
- Which broker can you use to buy Royal Exchange Stock?
- Which broker offers a signup bonus for first-time Nigerian Traders?
- Which brokers offer a $5 (415 NGN) minimum deposit for investing in Royal Exchange Stock?
- How much Royal Exchange Stock should you buy?
And lots more…
So if you’re ready to go “all in” with the Royal Exchange Stock for Nigerians…
Let’s dive right in…
- Louis Schoeman
What is a Stock?
👉 Definition: a stock is a percentage of ownership in a company, such as Royal Exchange, or a financial asset. Investors who hold shares of any company are known as shareholders.
How to Buy Royal Exchange Stock in Nigeria (Updated 2023)
Step by Step how to buy Royal Exchange Shares in Nigeria
Step 1: Choose a reputable brokerage
👉 An online brokerage account allows you to buy and sell stocks. Furthermore, online brokerage accounts provide a wide range of research, instructional tools, and account types to help you achieve your investment objectives.
👉 Long-term investors, such as those saving for their children’s education or their own retirement, may want to consider investing in ROYALEX through tax-advantaged vehicles such as individual retirement accounts (IRAs).
👉 If you’re saving for a down payment on a house or building wealth, a taxable brokerage account is a better option. It’s a good idea to do some comparison shopping to find the best broker in Nigeria for your needs.
Step 2: Decide how much you wish to invest in Royal Exchange stocks
👉 How much money do you have left over at the end of the month after paying all of your monthly bills? That is the amount you must save and invest.
👉 If you don’t already have an emergency fund and retirement savings, you should start now. However, you are free to invest the remainder as you see fit.
👉 You might not want to buy an entire share of ROYALEX stock at first. In this case, you might want to purchase a fraction of that share, also known as a fractional share. Some brokerages sell these traditional share sections.
👉 When you are ready, you can invest a large sum of money all at once or in small amounts over a long period of time using dollar-cost averaging.
👉 Regardless of the stock’s price, fixed dollar amounts of stock are purchased on a regular basis, usually monthly. It reduces your risk and lowers your cost per share in the long run.
👉 Consider how ROYALEX stock might fit into your overall portfolio if you have other investments. Royal Exchange investors should be aware of their other holdings in large-cap technology companies.
Step 3: Devise an investment plan
👉 Before making any stock purchases, carefully consider your investment objectives. Investing in large quantities of single shares of any corporation is always risky.
👉 Royal Exchange stock has a history of price volatility and can be greatly influenced by outside factors. While past performance is no guarantee of future results, you may face similar volatility in the future. Price swings should be considered when investing in Royal Exchange stock.
Step 4: Do sufficient research on ROYALEX stock
👉 Purchasing stock in a single company, even if it is a household name like Royal Exchange, is an exciting prospect, but investors in Nigeria should proceed with caution and thorough research.
👉 As a starting point for your evaluation, review the annual and quarterly reports that publicly traded companies like Royal Exchange are required to file on a regular basis.
👉 These reports are known as earnings reports or quarterly earnings in the financial press, and they contain a wealth of information on a company’s performance and finances.
👉 Once you have all of this information, you can use it to determine whether Royal Exchange is a good investment.
Step 5: Determine the order type that you would like to place
👉 You can use your brokerage platform to request to buy FB stock at the best current price, or you can use more complicated order types, such as limit or stop orders, to only acquire shares after the stock price falls below a specified threshold.
👉 If you place an order outside of the hours permitted by your brokerage, the purchase will be completed once trading resumes.
Step 6: Monitor the ongoing performance of your ROYALEX stock purchase
👉 It’s a good idea to monitor your investments and see how they’re performing. When evaluating the performance of Royal Exchange or any other company, the annualised percent return is a good place to start.
👉 You can compare your investment to other investments using certain benchmarks to see how well it performed. Consider re-examining the initial data to see how the stock performance has changed over time.
Pfizer Stock Overview for Nigerians
👉 Pfizer Inc. is a biopharmaceutical company that discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products all over the world.
👉 It provides medicines and vaccines in a variety of therapeutic areas, such as cardiovascular metabolic and women’s health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, as well as oral COVID-19 treatment, under the Sulper brands.
👉 The company also offers medicines and vaccines in a variety of therapeutic areas, including pneumococcal disease, meningococcal disease, tick-borne encephalitis, and COVID-19 under the Comirnaty/BNT162b2, Nimenrix, FSME/IMMUN-TicoVac, Trumenba, and the Prevnar family brands; biosimilars for chronic immune and inflammatory diseases under the Xeljanz, Enbrel Furthermore, the company is in the contract manufacturing business.
👉 It provides services to wholesalers, retailers, hospitals, clinics, government agencies, pharmacies, individual provider offices, and disease control and prevention centres. Bristol-Myers Squibb Company, Astellas Pharma US, Inc., Myovant Sciences Ltd., Akcea Therapeutics, Inc., Merck KGaA, Valneva SE, BioNTech SE, and Arvinas, Inc. have all signed collaboration agreements with the company.
👉 Pfizer Inc. was established in 1849 and is based in New York, New York.
Overview
👉 Stock trading has become increasingly popular, and over the last decade, there has been a significant increase in participation from millennials in the stock market, owing to popular mobile trading apps, which has boosted trading figures.
👉 Millennials and older stock traders alike have expressed an increased interest in online stock trading in Nigeria, with more traders emerging as internet service providers’ coverage has improved and the number of brokers admitting traders from African countries has increased.
👉 If you want to grow your money and keep up with inflation in Nigeria, you must engage in some form of investment. Inflation is a process by which the purchasing power of money diminishes over time. In the event that you do not make intelligent investment decisions, the value of your monthly income savings will diminish day by day.
👉 As a result of technology improvements, investing in stocks in Nigeria has never been more straightforward. If you’re considering making an investment in the Nigerian stock market, you should be aware that it has the potential to generate substantial returns over the medium to long term.
👉 For those looking to purchase or sell shares, the stock market serves as a meeting place where they may meet up, interact, and execute transactions. Price discovery for company shares is made possible through stock markets, which also act as an economic barometer.
👉 Stock market participants compete with one another to find the best price, ensuring that the market is always open to new investors and offers a high level of liquidity.
👉 This means that market participants can trade stocks and other qualifying financial products on stock exchanges with complete confidence and little to no operational risk. According to the regulator, stock exchanges operate as both primary and secondary markets.
👉 IPOs (initial public offerings) enable companies to sell equity to the general public for the first time on the stock exchange.
👉 This activity assists businesses in obtaining financing from a variety of sources. A division of a corporation (say, into 20 million shares) and the sale of a portion of those shares (say, 5 million shares) to the public at a price (say, $10 per share) are two examples of this.
👉 The existence of a market for the sale of these shares is required in order to make this procedure more efficient. The stock market makes it possible for this type of exchange to take place.
👉 Upon investing, investors will be given stock in the company, which they can hold for a specified amount of time in anticipation of an increase in the share price and dividend payments from the company. During this capital-raising procedure, companies and their financial partners compensate the stock exchange for the services it provides to them.
👉 The Royal Exchange Company is one of the most well-known stocks accessible on the market right now. Continue reading to learn more about how to purchase Royal Exchange stock in the country of Nigeria.
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- Time to open Account – Only 12 Hours
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RECOMMENDED JSE BROKER
🛡️ Trust Score
97%
Avatrade – #1 JSE Trading Platform
- Time to open Account – Only 12 Hours
- Low Commissions
- Invest in any JSE Top 40 Share
Pros and Cons of Buying Royal Exchange Shares
👉 Currently, the stock of Royal Exchange Assurance Nigeria Plc is trading at 0.83 Nigerian Naira per share on the Nigerian Stock Exchange (NGX), according to the latest available data (NGN).
👉 Royal Exchange Assurance Nigeria Plc was found to have a total market capitalization of 4.27 billion NGN and a total number of shares outstanding of 5.15 billion NGN, according to a study of its financial data.
👉 Investors who buy or sell Royal Exchange Assurance Nigeria Plc stocks can expect to receive more profitable dividends and earnings in the future as a result of the company’s increase in earnings per share and consistent profitability over time.
👉 A study of the live chart of Royal Exchange Assurance Nigeria Plc indicates that the Financials sector will continue to improve, with market share increasing as trading volumes rise. Analysts predict that the Financials sector will continue to improve as trading volumes rise.
👉 The Nigeria Exchange Limited (NGX) suspended trading in the stocks of Royal Exchange Plc and three other companies on Friday, June 2, 2021.
👉 This action was taken as a result of the companies’ failure to submit their Audited Financial Statements for the fiscal year ended December 2020 or their Unaudited Financial Statements for the fiscal year ended March 2021, or both.
👉 This penalty is incorporated into the Rules for Accounts Filing and Treatment of Default Filing, which govern all listed companies on the exchange.
| ✔️ Pros | ❌ Cons |
| Royal Exchange Plc provides general and health insurance, life insurance, financing, asset management, trusteeship, and microfinance banking services in Nigeria. | Has less than 1 year of cash runway |
| Royal Exchange is a well-known name in the insurance industry, and it is highly regarded for its years of experience in the field, among other attributes. | Highly volatile share price over the past 3 months |
| Continually reinventing itself and rejuvenating its strong brand, with an emphasis on experience and expertise, the Company intends to assure its relevance in the context in which it operates in order to maintain its competitive advantage. | Shareholders have been diluted in the past year |
| Does not have a meaningful market cap (NGN5B). |
Royal Exchange Stock Overview for Nigerians
👉 Royal Exchange Assurance Nigeria Plc is a Nigerian holding company that, through its subsidiaries, primarily engages in risk management.
👉 Royal Exchange Assurance Nigeria Plc is licenced to offer life and non-life insurance products such as general and health insurance as well as life assurance.
👉 Royal Exchange Assurance Nigeria Plc also offers asset management, credit financing and microfinance, general insurance, and reserve investment accounts.
👉 Furthermore, Royal Exchange Assurance Nigeria Plc provides a variety of healthcare insurance products and services, as well as serving as a health maintenance organisation that facilitates financial intermediation in the health business.
👉 The subsidiaries of the company are Royal Exchange General Insurance Company, Royal Exchange Prudential Life, Royal Exchange Healthcare (HMO), Royal Exchange Finance Company, and Royal Exchange Microfinance Bank.
👉 Royal Exchange Assurance Nigeria Plc’s product and service portfolio is now more diverse in more sectors of the Financials value chain, including risk management, financial services, trusteeship, and asset management. Its general insurance products include auto insurance, fire insurance, general accident insurance, marine/aviation insurance, bonds, engineering insurance, agriculture insurance, and oil and gas insurance.
👉 Royal Exchange Assurance Nigeria Plc’s history dates back to 1918, when the company was founded, and it was listed on the Nigerian Stock Exchange (NGX) on December 3, 1989.
👉 The headquarters of Royal Exchange Assurance Nigeria Plc are located at New Africa House, 31 Marina, Lagos, Nigeria.
RECOMMENDED NIGERIAN BROKER
🛡️ Trust Score
97%
Avatrade – #1 Nigerian Trading Platform
- Time to open Account – Only 12 Hours
- Low Commissions
- Invest in any Top 40 Share
RECOMMENDED JSE BROKER
🛡️ Trust Score
97%
Avatrade – #1 JSE Trading Platform
- Time to open Account – Only 12 Hours
- Low Commissions
- Invest in any JSE Top 40 Share
Should You Invest in Royal Exchange in 2023?
👉 AfricInvest, a Pan-African asset management company, has bought a minority investment in Royal Exchange General Insurance Company for a total sum of N3.6 billion (around N3.6 billion).
👉 A subscription to a capital raise was used to make the investment, which was made through FIVE, the company’s private equity vehicle.
👉 Some of the primary factors behind this push for greater working capital were the company’s ambition to participate in more large-ticket transactions, diversify its business and product lines, as well as diversify its delivery networks.
👉 The additional money would allow the company to grow its underwriting capacity in key business areas such as retail mass market insurance, agriculture insurance, and insurtech, among other things.
Best Brokers for Buying Royal Exchange Shares in Nigeria
Exness
Overall Rating
- 4.9/5
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Exness is considered a low-risk broker and can be summarised as a trustworthy and reliable market making broker for buying Amazon stock in Nigeria. Regarding spread and security, Exness guarantees fast trading speeds from a few milliseconds when buying Amazon stock in Nigeria. In terms of users, Exness has over 204 000 registered clients in the UK.
FXTM
Overall Rating
- 4.6/5
Min Deposit
USD 10 / 4145 NGN
Regulators
CySec, FSCA
Trading Desk
MetaTrader 4 and MetaTrader 5
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, FXTM is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for buying Amazon stock in Nigeria. Regarding spread and security, FXTM guarantees fast trading speeds from a few milliseconds when buying Amazon stock in Nigeria. In terms of users, FXTM has over 4 million registered clients around the world.
XM
Overall Rating
- 4.5/5
Min Deposit
USD 5 / 2 075 NGN
Regulators
IFSC, CySec, ASIC
Trading Desk
Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform
Crypto
No
Total Pairs
57
Islamic Account
Yes
Trading Fees
No (Just spread)
Account Activation Time
24 Hours
👉 Overall, XM is considered a low-risk broker and can be summarised as a trustworthy and reliable market making broker for buying Amazon stock in Nigeria. Regarding spread and security, XM guarantees fast trading speeds from a few milliseconds when buying Amazon stock in Nigeria. In terms of users, XM has over 5 million registered clients around the world.
Tickmill
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 41450 NGN
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Tickmill is considered a low-risk broker and can be summarised as a trustworthy and reliable ECN broker for buying Amazon stock in Nigeria. Regarding spread and security, Tickmill guarantees fast trading speeds from a few milliseconds when buying Amazon stock in Nigeria. In terms of users, Tickmill has over 38 000 registered clients in the UK.
Pepperstone
Overall Rating
- 4.1/5
Min Deposit
USD 10 / 4145 NGN
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MetaTrader 4, MetaTrader 5, cTrader and TradingView
Crypto
No
Total Pairs
60+
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Trading margined products carries a high level of risk. Pepperstone Markets Kenya Limited, CMA Licence No. 128
👉 Overall, Pepperstone is considered a low-risk broker and can be summarised as a trustworthy and reliable agency-execution broker for buying Amazon stock in Nigeria. Regarding spread and security, Pepperstone guarantees fast trading speeds from a few milliseconds when buying Amazon stock. In terms of users, Pepperstone has over 8000 registered clients in the UK.
Broker Comparison
| 🥇 Exness | 🥇 FXTM | 🥇 XM | 🥇 Tickmill | 🥇 Pepperstone | |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA | CySEC, FSCA, FCA, FSC Mauritius | FSCA, IFSC, ASIC, CySEC, DFSA | FSA, FCA, CySEC, Labuan FSA, FSCA | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app | MetaTrader 4, MetaTrader 5, FXTM Trader | MetaTrader 4, MetaTrader 5, XM Mobile App | MetaTrader 4, MetaTrader 5 | • MetaTrader 4, • MetaTrader 5, • cTrader, • TradingView, • Myfxbook, • DupliTrade |
| 💰 Withdrawal Fee | No | Yes | No | No | No |
| ✔️ Demo Account | Yes | Yes | Yes | Yes | Yes |
| 📈 Min Deposit | 41,000 Naira | 10,000 Naira | 2,000 Naira | 41,500 Naira | 60,700 Nigerian Naira |
| 📊 Leverage | 1:2000 | 1:1000 | 1:888 | 1:500 | 1:200 |
| 💸 Spread | From 0.0 pips EUR/USD | From 0.0 pips | From 0.0 pips | From 0.0 pips | From 0.0 pips |
| 💳 Commissions | $3.5 on Zero Account | Yes, variable | USD7/100 000 | 2 per side per 100,000 traded | USD 0.04 (USD 0.08 round turn) |
| 🛑 Margin Call/Stop-Out | None | 40% | 50% | 100%/30% | 50%/0% |
| 📲 Order Execution | None | Market | Instant | Instant | Instant |
| 💰 No-Deposit Bonus | No | Yes | Yes | Yes | No |
| 💳 Cent Accounts | Yes | Yes | Yes | No | No |
| 💻 Account Types | • Standard Account, Standard Cent Account, • Raw Spread Account, • Zero Account, Pro Account | • Micro Account, • Advantage Account, • Advantage Plus Account | • Micro Account, Standard Account, XM Ultra-Low Account, Shares Account | • Pro Account, Classic Account, • VIP Account | • Standard account, • Razor Account, • Professional Account, |
| ⚖️ CBN Regulation | No | No | No | No | No |
| 💰 NGN Deposits | Yes | Yes | Yes | No | Yes |
| ✔️ Nigerian Naira Account | Yes | Yes | No | No | No |
| 📞 Customer Service Hours | 24/7 | 24/5 | 24/5 | 24/5 | 24/7 |
| 🛍 Retail Investor Accounts | 5 | 2 | 4 | 1 | 2 |
| ☪️ Islamic Account | Yes | Yes | Yes | Yes | Yes |
Best Mobile Apps to buy US Stocks in Nigeria
👉 The stock market in the United States is one of the most appealing venues for investors, regardless of their investment style, experience, or goal.
👉 It used to be difficult for a Nigerian or non-US citizen to acquire and invest in US securities. However, thanks to technological advancement, Nigerians can now invest in the US stock market using their smartphone, tablet, iPad, or computer.
Leadtrader
👉 Leadtrader is well-known among stock apps in Nigeria for having the lowest brokerage fees, with commissions as low as 0.75 percent in some cases. When you give them permission to trade on your behalf, the commission can reach 1.35 percent of the total.
Investnow.ng
👉 This software provides a comprehensive internet trading platform for Nigerians. It also provides new investors with regular stock recommendation options, as well as a variety of services such as dividend management, certificate administration, and registrar handling.
Ameritrade
👉 Meristem Securities’ software provides traders with a secure platform from which to trade using their mobile phones. Furthermore, it offers a diverse range of companies to choose from, with assets in both domestic and international markets.
Rise
👉 Rise is more than just a stock trading app; it can be thought of as a global asset management firm. It offers dollar-denominated investments in which you can put your money to work while watching its value rise.
👉 As a result of this arrangement, Rise skilled fund manager trades on your behalf. In addition, you can invest in real estate, fixed assets, or stock asset investments.
Frequently Asked Questions
Can I buy stock directly from Royal Exchange?
No, Royal Exchange stock should be bought through a stockbroker in Nigeria, whether it is offshore or based locally.
Is Royal Exchange stock a good buy in 2023?
Most analysts consider Royal Exchange stock to be a good growth investment in 2023 for investors in Nigeria and elsewhere.
Is it worth it to buy one share of a stock?
Yes, especially with the emergence of commission-free stock trading, it has become a better option than ever to buy a single share in a company. This is a good approach for beginner investors in Nigeria.
What is the best way to buy Royal Exchange stock?
To buy Royal Exchange stock, investors in Nigeria should take the following steps:
- Choose a reputable stockbroker
- Decide on your investment amount
- Set up an investment plan
- Do enough research on you ROYALEX stock
- Determine the order type
- Continue to monitor the performance of your ROYALEX stock
