One of the most common questions investors ask is, “Is Trove SEC regulated in Nigeria?”
It’s an important question. When it comes to stock investing in Nigeria, regulation, safety, and transparency matter.
The short answer is yes, Trove is regulated in Nigeria through an SEC-licensed broker in Nigeria.
For nearly seven years, Trove has been committed to making investing in Nigerian and global stocks simple, transparent, and accessible through a fully regulated investment platform.
From day one, compliance, investor protection, and trust have been at the core of everything we build.
Today, Trove operates Nigerian stock trading through its own SEC-licensed broker-dealer, Innova Securities Limited, which is fully regulated by the Nigerian Securities and Exchange Commission (SEC). This means all Nigerian stock trades on the Trove platform are executed in full compliance with Nigerian capital market regulations.
In this guide, we’ll explain exactly how Trove is regulated in Nigeria, what this means for investors, and how this structure helps keep your investments secure.
Is Trove SEC-licensed in Nigeria?
Yes. Trove operates its Nigerian stock trading services through Innova Securities Limited, a broker-dealer licensed and regulated by the Nigerian SEC.
Innova Securities Limited is fully owned by Trove and registered with:
- The Nigerian Securities and Exchange Commission (SEC)
- The Nigerian Exchange Group (NGX)
- The NASD OTC Securities Exchange
This ensures every Nigerian stock trade executed on Trove meets strict regulatory and compliance standards.
How Trove Became One of Nigeria’s Most Trusted Investment Platforms
In its early years, Trove partnered with SEC-regulated brokers to ensure compliance while building innovative investment tools.
Through these partnerships, Trove facilitated over ₦500 billion in trades across Nigerian and global markets, helping users invest confidently in:
- Nigerian stocks
- U.S. stocks and ETFs
- Fractional shares
- Global investment opportunities
Trove also introduced several firsts in Nigerian digital investing:
- Fractional investing for global markets
- Pre-market and after-hours U.S. trading
- Nigerian and U.S. stocks in one app
- Social investing features
Each innovation was built with regulatory compliance and user security at the core.
Why Trove Now Operates Its Own SEC-Regulated Brokerage
As Trove’s user base expanded, so did its responsibility to provide even stronger investor protection.
By owning and operating its own SEC-licensed brokerage firm in Nigeria, Trove now has:
- Direct regulatory oversight
- Improved trade execution and settlement
- Stronger governance and compliance controls
- Faster innovation without compromising security
This structure aligns Trove with global best practices used by leading investment platforms worldwide.
About Innova Securities Limited
Innova Securities Limited has deep roots in Nigeria’s financial system.
Formerly known as Union Stockbrokers (the brokerage arm of Union Bank of Nigeria) and later UCML Securities Ltd, the firm now operates as Innova Securities Limited under Trove’s ownership.
Today, Innova Securities Limited is:
- SEC licensed in Nigeria
- Registered with NGX
- Member of NASD OTC Securities Exchange
- Fully owned by Trove
This provides a strong regulatory foundation for Trove’s Nigerian stock trading services.
What This Means for Trove Users
With Trove now operating through its own regulated broker-dealer, users benefit from:
- Stronger Security & Compliance: Every Nigerian stock trade follows SEC regulations.
- Greater Transparency: Direct brokerage oversight improves accountability.
- Faster Feature Development: Innovation without regulatory delays.
- Long-Term Stability: Built for sustained growth in Nigeria’s capital markets.
What Happens Next for Existing and New Users?
Existing users:
Accounts currently held with third-party SEC-regulated brokers such as ARM and Sigma Securities will transition gradually to Innova Securities Limited without disruption.
New users:
All Nigerian stock trades will now be executed directly through Trove’s SEC-licensed broker-dealer. This phased approach ensures continuity and a smooth onboarding.
The Future of Regulated Investing With Trove
With over 500,000 app downloads and ₦500 billion in facilitated trades, Trove continues to lead Nigeria’s digital investment revolution.
Owning an SEC-licensed brokerage is just the beginning.
Trove remains committed to delivering safe, transparent, and innovative investment opportunities to Nigerians and Africans worldwide.
FAQ
Is Trove SEC licensed?
Yes. Trove operates Nigerian stock trading through its fully owned SEC-licensed broker-dealer, Innova Securities Limited.
Is Trove regulated in Nigeria?
Yes. Trove complies with Nigerian capital market regulations through the Securities and Exchange Commission (SEC), the Nigerian Exchange Group (NGX), and NASD OTC Exchange.
Is Trove safe for investing in Nigerian stocks?
Yes. Trove executes trades through its SEC-regulated brokerage and follows strict regulatory standards for investor protection.
Can Nigerians invest in U.S. stocks with Trove?
Yes. Trove provides access to U.S. stocks, ETFs, and global markets alongside Nigerian stocks.