Question 1

What is Meritrade and how does it work?

Accepted Answer

Meritrade is an online stockbroking platform by Meristem Securities for trading equities on the Nigerian Stock Exchange. You open an account starting from ₦10,000, fund it via bank transfer or card, search for stocks, place buy or sell orders at market or limit prices, and manage your portfolio with real-time quotes and insights.

Question 2

How much does Meritrade cost?

Accepted Answer

You can open an account and start trading with as little as ₦10,000. Trading involves commissions and fees based on the transaction, such as a small percentage shown in order summaries.

Question 3

What countries does Meritrade operate in?

Accepted Answer

Meritrade operates in Nigeria.

Question 4

How do I sign up for Meritrade?

Accepted Answer

Visit meritrade.com, click Sign Up, and complete the account opening process which requires a minimum of ₦10,000. Download the app from the App Store or Google Play to get started after signup.

Question 5

Does Meritrade have a mobile app?

Accepted Answer

Yes, Meritrade is available on iOS and Android.

Question 6

Who is Meritrade best suited for?

Accepted Answer

Meritrade is best suited for beginner and experienced investors in Nigeria looking to trade stocks conveniently online or via mobile.

Question 7

How do I contact Meritrade support?

Accepted Answer

For support, send an email to meritrade@meristemng.com or call +2348034059788, +23470063747836.

Question 8

What popular product is Meritrade an African alternative to?

Accepted Answer

Meritrade is an African-built alternative to Robinhood.

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