Trove vs Bamboo: Which Is Best For You In 2023?

Trove vs Bamboo – Investing is an excellent way to grow your income, however it can be intimidating to those who don’t know what they’re doing.


In a positive development, fintech startups like Trove and Bamboo are offering investing solutions that encourage microinvestments.

All of these apps are great for beginners, and they make it easy for those just starting to invest or someone looking to play a stock-picking game for fun.

Between Trove and Bamboo, which one is best? Read on to find out.



Trove is a digital investment platform that lets you invest in U.S, Chinese, and Nigerian stocks, bonds, exchange-traded funds (ETFs), and other securities with as little as 1000 NGN or $10, directly from your smartphone or computer.

You can buy any publicly traded equity, bond or foreign assets as a one-off investment using a debit card or bank transfer.

You can also sell your assets right from the app & have the funds deposited into your account.



Bamboo gives unrestricted access to over 3,000 stocks listed on the Nigerian stock exchange and U.S. stock exchanges, right from your mobile phone.

The minimum trading amount on Bamboo is $20.

The Bamboo app also possesses a neat feature that allows anyone to gift stocks to another person.

ALSO READ: 10 Best Performing Mutual Funds in Nigeria 2022

Trove vs Bamboo

Trove is a safe and secure platform you can use to invest in American, Chinese and Nigerian stocks, bonds and ETFs with as little as ₦1,000.

Bamboo is an online investment platform that lets anyone from Nigeria buy and sell American stocks. The company has announced that its users will soon be able to also invest in Nigerian stocks.

Trove Vs Bamboo: Features and Accessibility

Trove and Bamboo are very similar in terms of usability and features, but there are some important differences. These differences between Trove and Bamboo can be found in features like platform trading fees, charges and minimum investment amount.

Minimum Investable Amount₦1000$20
Fractional Investment
Insured Trading Amounts
PortfoliosForeign Stocks, ETFs, BondsNigerian and US Stocks
WalletsNaira and Dollar WalletDollar Wallet
Referral Bonus
Trading fees1%1.5%
Trove Vs Bamboo

Trove vs Bamboo: Trading Fees & Deposit Charges

When it comes to trading fees, both Trove and Bamboo have an affordable rate but there are still substantial differences that can influence your decision in the Trove vs Bamboo challenge.

Trading Fee

Trove has two wallets on its platform. Naira and Dollar wallets. Naira wallets are used for investing in local Nigerian stocks while the dollar wallets are used for investing in foreign stocks.

Trove charges 1% commission (minimum of $2) whenever you buy and sell stocks with your dollar wallet.

While for the Naira wallet, the trading fees are SEC (Securities & Exchange Commission) – 0.30%, CSCS Trade Alert – ₦4.20, VAT on commissions – 5% of NSE, SEC & Brokerage fees. Stamp Duty – 0.075%, Brokerage – 1.35%, Platform Fees – 0.5%

Bamboo only has a dollar wallet. It charges a 1.5% commission when you buy and sell US stocks on its platform.

Deposit Charges

Both trove and Bamboo charge an amount for depositing money into your accounts on their platforms.

For Trove:

  • Funding your trove account through Credit/Debits Cards cost1.5% + ₦100 for transactions over ₦2,500. This applies to both Naira and Dollar wallets
  • Using Bank Transfers to fund and withdraw from (Naira & Dollar Wallets) are free.

For Bamboo

  • Using a Naira Card for funding your Bamboo account cost 1.4%. The maximum charge on a Naira card ₦2000.
  • Bank transfers have a flat rate of ₦150 regardless of the amount being deposited.
  • Using a USD Card to fund your Bamboo account will cost you 2.9% of your transaction.
  • Using a USD wire transfer is free on Bamboo. However, you may be charged by your bank.
  • If you want to use Flutterwave’s Barter app, you will be charged a 1.4% fee on the amount you deposit.

Trove vs Bamboo: Minimum Investment amounts

One of the benefits of using platforms like Trove and Bamboo is that they allow you to invest in foreign stocks without having to start with a large amount.

Trove allows anyone to invest in stocks on their platform with as little as ₦1000 while Bamboo has a minimum investment amount of $20.

RELATED: How To Buy Foreign Shares From Nigeria 2022

Trove vs Bamboo: Security

Trove and Bamboo ensure your personal information is well encrypted with 256-bit encryption. They both use state-of-the-art bank-level security.

Each Trading account on Trove is insured up to $500,000 (including $250,000 for claims for cash). Each Bamboo trading account is insured up to $500,000.

However, the Bamboo app signs you out of your account every time you leave the app and requires that you enter your pin if you want to use your Bamboo account.

While the Trove app keeps you signed in till you signout yourself.

This gives Bamboo an extra layer of security than Trove.

Deciding Factors for Trove Vs Bamboo

Trove and Bamboo are very similar platforms. Their differences boil down to their fees and maybe the user experience of the app. Trove has a dark theme that really lets you focus on the information on the app while the Bamboo light design is clean and sleek and allows for easy navigation in the app.

Which is right for you: Trove or Bamboo?

So in this Trove vs Bamboo comparison, you now know the main features of each app.

If you are still yet to decide which app is right for you. No worries, We will pick a winner based on some categories.

If you want to start investing and don’t want to wait till you have N10,000.

Trove is the app for you as you can start investing in foreign shares from Nigeria with a minimum amount of N1000.

If you’re looking to avoid high trading and deposit fees, Trove slightly edges out Bamboo in this category.

If the minimum amounts or trading fees aren’t an issue but you’re more concerned with security.

Bamboo is the winner when it comes down to which platform is more secure.

Trove vs Bamboo: Conclusion

With this head-to-head comparison between Trove vs Bamboo, we hope you’ve find your favourite already between the two.


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