Investing in shares involves risk, and you may get back less than you put in. Please read this before you invest. Amarah does not give personal investment advice: the decision to buy or sell is always yours, and nothing on our website or in the app is a recommendation.
1. You can lose money
The value of shares and ETFs goes down as well as up. You can lose part or, in rare cases, all of the money you invest. Past performance does not predict future results. Only invest money you can afford to leave invested and to lose.
2. Currency risk
Your investments are held in US dollars. Their value in your local currency (for example XAF) changes with the exchange rate, even when the share price does not move. If the dollar weakens against your currency, your investments lose value in local terms. Every deposit and withdrawal is converted at the live market rate plus our conversion spread.
3. Fees reduce your returns
Fees apply at several steps: deposit, currency conversion in each direction, buying, selling and withdrawal. With the fees in our Terms of Service, depositing, buying, selling and withdrawing the same amount costs roughly 12% to 14% in total, even if the share price has not changed. Investing over a longer period, rather than buying and selling often, reduces the share of your money taken by fees.
4. Prices, market hours and execution
- US markets are open from 9:30 to 16:00 New York time on weekdays (14:30 to 21:00 in Cameroon for most of the year). Orders placed outside these hours are executed when the market opens, at the price at that moment.
- Orders are executed at the market price, which can differ from the price shown when you placed the order, especially in fast-moving markets.
- Trading in a share can be halted by the exchange, and you may not always be able to sell when you want.
5. How your shares are held
Your shares are bought and held through our US partner broker-dealer, a FINRA member registered with the SEC. Your holdings are shown in the app at all times.
Fractional shares can only be sold through Amarah and cannot be transferred to another broker.
6. Legal, regulatory and tax risk
- Amarah is a technology platform. It is not a bank, a credit institution or an investment firm licensed in Cameroon. Brokerage is provided by our US partner broker.
- Laws on foreign exchange, investment or payments in your country or region (for example the CEMAC rules) may change and could limit or end our ability to offer the service to you.
- US dividends are generally subject to a 30% withholding tax unless your country has a tax treaty with the United States. You are responsible for declaring your investments and gains in your country.
7. Technology and service interruptions
The app, our providers, mobile networks or mobile money operators can be unavailable or slow. You may not be able to deposit, trade or withdraw at a given moment, and we cannot guarantee that an order will be placed at a particular time or price.
8. Who can invest
You must be at least 18 years old and complete identity verification before investing. If you are unsure whether investing is right for you, speak to an independent financial adviser.