FxPro's website75 brokers measured in Nigeriabroker data checked 27.08.2026
Risevest in Nigeria — review, licence and costs
Written and checked by the Harmattan Desk editorial team · how we score ·
score recalculated 01.10.2026
Score (5 of 6 axes scored)
3.87/ 5.0
shown, not ranked: no cost
2 + 3 × 0.623 = 3.87 · axes on 0–100, total on 2.0–5.0
Who actually onboards you
- Entity that onboards Nigeria residents
- RV Fund Management Limited (SEC fund manager); Naira offerings powered by Chaka Technologies Limited; US side via Risevest Financial Securities Limited (US broker-dealer)
- Local standing
- SEC-regulated domestic (fund/portfolio manager, since Feb 2026); US assets held with regulated US entities
- Licence as the register states it
- SEC Nigeria Fund and Portfolio Manager license (via RV Fund Management Limited, obtained Feb 2026); Naira sub-broking via Chaka (SEC digital sub-broker). Not itself an NGX dealing member.
- Leverage for this entity
- no retail forex/leverage; long-only USD assets and equities
- The firm behind it
- Founded 2020 by Eke Urum; offers dollar-denominated investing for Africans; acquired Chaka; obtained US broker-dealer license (2nd Nigerian firm after Bamboo) and SEC Nigeria fund-manager license in Feb 2026
- What we hold against it
- Previously operated without full SEC registration and was named in SEC cautions/blacklist of unregistered investment platforms before securing its SEC license in Feb 2026; now regulated. Users should note the recent regularization.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Nigerian residents enters the score.
The entity that onboards youRV Fund Management Limited (SEC fund manager); Naira offerings powered by Chaka Technologies Limited; US side via Risevest Financial Securities Limited (US broker-dealer)Local or offshore not stated in the source · SEC Nigeria licence
no retail forex/leverage; long-only USD assets and equities
—NG
Nigeria median, local entities: 1:50 · 18 of 20 statedScale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youSEC-regulated domestic (fund/portfolio manager, since Feb 2026); US assets held with regulated US entities
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Accounts
Account types the broker names for this country: investment account (managed USD plans, US stocks, real estate, fixed income, wallet). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Payouts(2 methods)
| Method | Deposit, h | Fee, USD | Min, USD |
|---|---|---|---|
| Bank transfer | 24 | 0 | 50 |
| Debit cards | 24 | 0 | 50 |
Taxes for a Nigerian resident(1 rule)
- Trading profits are taxable and must be declared to the Nigeria Revenue Service (NRS, formerly FIRS).https://businesspost.ng/economy/risevest-gets-sec-licence-to-legally-operate-in-nigerias-capital-market/
Not tax advice. Check with the FIRS.
Deposit and withdrawal methods (2 methods · 0 local rails)
bank transfer, debit cards
- Bank transfer
- Debit cards
- Account currency
- NGN
- Fee declared
- 2 of 2 methods
- Withdrawal back to
- the funding method
Where it does not serve(1 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(3 platforms)
- Rise (Risevest) mobile app (iOS/Android)
- web
| Class | Count |
|---|---|
| Rise (Risevest) mobile app (iOS/Android) | — |
| web | — |
| Shares | 3 |
— the broker does not publish this figure; it is not read as a zero and it is not scored.
Pros and cons(4 for and 4 against, each tied to a figure on this page)
For
- Authorised by the Nigeria regulator in its own register
- Min deposit 1 USD, under the Nigeria median 20
- Withdrawal in 24 h, one of 71 of 81 brokers here that publish a time
- Safety 90 of 100, its strongest of 5 scored axes
Against
- Round-turn cost not priced: the pair of spread and commission is not published
- A regulator warning is on file against this broker
- Platforms 0 of 100, its weakest of 5 scored axes
- Not scored on round-turn cost: the broker publishes no figure we could read
Alternatives in Nigeria(6 of 81 scored in Nigeria)
- Round turn, USD
- 10NG
- Min deposit, USD
- 10 groupNG
- Rank in this country
- #48
- Round turn, USD
- 4NG
- Min deposit, USD
- 20NG
- Leverage
- 200NG
- Rank in this country
- #20
- Round turn, USD
- 6NG
- Min deposit, USD
- 10NG
- Leverage
- 3000NG
- Rank in this country
- #26
- Round turn, USD
- 9NG
- Min deposit, USD
- 25 groupNG
- Leverage
- 1000 group
- Rank in this country
- #2
- Round turn, USD
- 5NG
- Min deposit, USD
- 10 groupNG
- Leverage
- 2000NG
- Rank in this country
- #5
- Round turn, USD
- 6NG
- Min deposit, USD
- 0 groupNG
- Leverage
- 500NG
- Rank in this country
- #17
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a Nigeria score. Full methodology
| Axis | Weight | What is measured | Risevest |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 55 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | — |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 90 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 60 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 0 |
Where Risevest sits in the Nigeria base(81 brokers)
Round-turn cost, USD (57 of 81 priced)
9<5
337.5
810
112.5
215
117.5
3>17.5
Median 6.5 USD · range 3-20 · 24 of 81 brokers do not publish it
Minimum deposit, USD (29 of 81 priced)
13<20
440
760
080
5>80
Median 20 USD · range 0-100 · this broker 1 USD · 52 of 81 brokers do not publish it
Retail leverage (53 of 81 with a Nigeria figure)
28<1k
132k
73k
54k
0>4k
Median 1:500 · range 100-3000 · 28 of 81 brokers do not publish it
Withdrawal time published (81 brokers)
Published, hours6not published38Risevest is one of the 6
FAQ
- Does Risevest accept residents of Nigeria?
- Yes. SEC-regulated domestic (fund/portfolio manager, since Feb 2026); US assets held with regulated US entities Onboarding entity: RV Fund Management Limited (SEC fund manager); Naira offerings powered by Chaka Technologies Limited; US side via Risevest Financial Securities Limited (US broker-dealer)
- Is Risevest licensed to serve clients in Nigeria?
- SEC Nigeria Fund and Portfolio Manager license (via RV Fund Management Limited, obtained Feb 2026); Naira sub-broking via Chaka (SEC digital sub-broker). Not itself an NGX dealing member. Checked on 11.07.2026.
- Which trading platforms does Risevest support?
- Rise (Risevest) mobile app (iOS/Android), web. Instruments: USD-denominated assets: US stocks, global fixed income, real estate portfolios; Naira stocks via Chaka
- How can I withdraw money from Risevest in Nigeria?
- bank transfer, debit cards
- What account types does Risevest offer?
- investment account (managed USD plans, US stocks, real estate, fixed income, wallet)
- Does Risevest offer a swap-free (Islamic) account?
- No. Risevest publishes no swap-free (Islamic) account for Nigeria.
Verified · Sources
Verified01.10.2026
next review 01.01.2027