FxPro's websiteTrove in Nigeria — review, licence and costs
Score (4 of 6 axes scored)
shown, not ranked: only 55% of the weight has data, need 55%
Who actually onboards you
- Entity that onboards Nigeria residents
- Trove Technologies Limited; Nigerian stock trading via Innova Securities Limited (SEC-licensed broker-dealer)
- Local standing
- SEC-regulated domestic via Innova Securities (broker-dealer)
- Licence as the register states it
- Operates NGX trading through SEC-licensed broker-dealer Innova Securities Limited; US assets via US regulated custodians. Trove itself functions as a digital investment app under this SEC-licensed structure.
- Leverage for this entity
- no retail forex/leverage; long-only NGX, US and other foreign equities/ETFs
- The firm behind it
- Trove Technologies (Trove Finance) founded 2018 by Oluwatomi Solanke; Lagos-based digital investment app for local and foreign stocks; partners with Innova Securities for NGX access
- What we hold against it
- No SEC enforcement action verified at review; part of the digital-investment cohort SEC formalized via sub-broker/broker-dealer partnerships
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.
no retail forex/leverage; long-only NGX, US and other foreign equities/ETFs
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youSEC-regulated domestic via Innova Securities (broker-dealer)
- 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: brokerage/investment account (Nigerian stocks, US stocks, Chinese stocks, ETFs, fixed savings). 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://www.trovefinance.com/nigeria/
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)
- Trove mobile app (iOS/Android)
- web
| Class | Count |
|---|---|
| Trove mobile app (iOS/Android) | — |
| web | — |
| All instruments | 4000 |
— 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 3 against, each tied to a figure on this page)
- Authorised by the Nigeria regulator in its own register
- Min deposit 10 USD, under the Nigeria median 20
- Withdrawal in 24 h, one of 71 of 81 brokers here that publish a time
- Safety 100 of 100, its strongest of 4 scored axes
- Round-turn cost not priced: the pair of spread and commission is not published
- Platforms 15 of 100, its weakest of 4 scored axes
- Not scored on reviews, 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
- 6NG
- Min deposit, USD
- 20NG
- Leverage
- 200NG
- Rank in this country
- #10
- Round turn, USD
- 6NG
- Min deposit, USD
- 0 groupNG
- Leverage
- 500NG
- Rank in this country
- #17
- Round turn, USD
- 4.8NG
- Min deposit, USD
- 0NG
- Leverage
- 500NG
- Rank in this country
- #29
- Round turn, USD
- 13.6NG
- Min deposit, USD
- 0 groupNG
- Leverage
- 200NG
- Rank in this country
- #50
- Round turn, USD
- 6NG
- Min deposit, USD
- 5NG
- Leverage
- 5000 group
- Rank in this country
- #30
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
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 | Trove |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | — |
| 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 | 100 |
| 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 | 40 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 15 |
Where Trove sits in the Nigeria base(81 brokers)
Round-turn cost, USD (57 of 81 priced)
Median 6.5 USD · range 3-20 · 24 of 81 brokers do not publish it
Minimum deposit, USD (29 of 81 priced)
Median 20 USD · range 0-100 · this broker 10 USD · 52 of 81 brokers do not publish it
Retail leverage (53 of 81 with a Nigeria figure)
Median 1:500 · range 100-3000 · 28 of 81 brokers do not publish it
Withdrawal time published (81 brokers)
FAQ
- Does Trove accept residents of Nigeria?
- Yes. SEC-regulated domestic via Innova Securities (broker-dealer) Onboarding entity: Trove Technologies Limited; Nigerian stock trading via Innova Securities Limited (SEC-licensed broker-dealer)
- Is Trove licensed to serve clients in Nigeria?
- Operates NGX trading through SEC-licensed broker-dealer Innova Securities Limited; US assets via US regulated custodians. Trove itself functions as a digital investment app under this SEC-licensed structure. Checked on 11.07.2026.
- Which trading platforms does Trove support?
- Trove mobile app (iOS/Android), web. Instruments: NGX-listed Nigerian equities (60+); US stocks and ETFs; Chinese stocks; fixed savings
- How can I withdraw money from Trove in Nigeria?
- bank transfer, debit cards
- What account types does Trove offer?
- brokerage/investment account (Nigerian stocks, US stocks, Chinese stocks, ETFs, fixed savings)
- Does Trove offer a swap-free (Islamic) account?
- No. Trove publishes no swap-free (Islamic) account for Nigeria.