How to buy Facebook shares in Nigeria

How to buy Facebook shares in Nigeria

Facebook is a global phenomenon and a revenue-generating behemoth with almost two billion daily active users and nearly $120 billion in yearly sales. Recently, the business changed its name to Meta Platforms, Inc. Here’s how to get started if you want to include some Meta stock in your portfolio.

1. How to buy Facebook shares in Nigeria

1.Open a Brokerage Account

You need a brokerage account to conduct the trades if you want to purchase Facebook or any other stock. To pick a broker that meets your tastes, it’s a good idea to compare the available services, costs, and investment alternatives.

2.Select an Account Based on Your Objectives

Select the appropriate brokerage platform, then choose the type of account you require. Your chosen account should support your financial objectives.

3.Decide on the order type and submit your order

You can either use a more complex order type, such as limit orders or stop orders, to ask your brokerage to buy shares of Facebook stock at the present price. These kinds of orders only buy shares when the stock price declines below a specific level.

Shares of Facebook can be bought or sold between 9:30 am and 4:00 pm ET, Monday through Friday. Facebook is listed on the Nasdaq stock exchange. Pre-market and after-market trading are permitted on the Nasdaq if your brokerage platform permits it.

How to buy Facebook shares in Nigeria

The pre-market trading hours for Nasdaq are from 4:00 am to 9:30 am ET, and the after-hours trading hours are from 4:00 pm to 8:00 pm ET. Orders placed outside of the trading hours your brokerage permits will be processed once trading has resumed.

4.Assessment of Meta’s Performance

Once you have purchased Meta stock, you should regularly assess your investment’s performance.

How to buy Facebook shares in Nigeria

Examine the annualized percent return first before evaluating the performance of any stock. This will provide you with a figure you may use to assess the performance of your investment in META by comparing it to those of other assets.

Examine Facebook’s performance in comparison to industry standard indices like the Nasdaq 100 or the S&P 500. You can see from this how Facebook has been performing overall in comparison to the stock market.

How to buy Facebook shares in Nigeria

Although “buy-and-hold” investing may be your wisest course of action, you could eventually wish to sell your Facebook stock. Similar principles apply to both buying and selling stocks.

Open your online brokerage account, then select a sell order type, the number of shares or dollar amount you wish to sell, and the ticker symbol for Facebook. They operate largely in the same manner as the purchase order kinds we discussed earlier.

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How to buy Facebook shares in Nigeria

Invest in Facebook with an ETF or an Index Fund

One method to include Meta Platforms in your portfolio is by purchasing its stock. By purchasing shares of index funds or exchange-traded funds, you can also invest in Facebook (ETFs). You can get both via your online brokerage.

These funds are less hazardous than individual equities because they combine numerous stocks into one fund. With money, you can spread your assets among hundreds (or even thousands) of different businesses rather than relying just on Facebook, boosting the likelihood of overall growth without putting your money on a single company.

It’s also crucial to remember that Facebook makes up a significant portion of many index funds. For instance, it ranks in the top 10 firms in the S&P 500 based on index weight, so purchasing an index fund that tracks the S&P 500 will provide you a considerable level of exposure to META while also diversifying and safeguarding your investments.