Trove 3.0 Launches with Margin Investing and IPO Access

Trove has released Trove 3.0, a significant update to its mobile investment platform that allows users to trade Nigerian and US stocks, ETFs, and more. This update follows Trove's acquisition of Innova Securities Limited, a broker-dealer licensed by Nigeria's Securities and Exchange Commission and the Nigerian Exchange, enabling Trove to execute trades independently.

The most notable feature of Trove 3.0 is margin investing, allowing eligible users to borrow funds to increase their buying power, potentially accessing up to 4x their cash holdings. The app also introduces pre-listing access to select US IPOs, typically available only to institutional investors.

Additionally, trading hours for selected US stocks have been extended to 24/5, allowing users to trade throughout the week. Restrictions on buying and selling the same stock have been lifted, facilitating day trading.

Trove has also added analyst ratings and upgrades to enhance research capabilities for users.