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Hisa (formerly Chaka) vs Sarwa: fees, markets and protection

Facts for both companies from their official pages; each was checked on the date shown in its review.

Facts verified on October 18, 2026

Key differences

Only Hisa (formerly Chaka) lists Nigerian Exchange (NGX) and Nairobi Securities Exchange (NSE).
Only Hisa (formerly Chaka) is licensed by SEC Nigeria.
Only Sarwa is licensed by FSRA (ADGM).
Only Hisa (formerly Chaka) supports M-Pesa for deposits and withdrawals.

Criterion	Hisa (formerly Chaka)	Sarwa
Rating	4.3/5 on other platforms 462 ratings	4.6/5 on other platforms 5.3K ratings
Regulators	SEC Nigeria	FSRA (ADGM)
Markets	Nigerian Exchange (NGX), Nairobi Securities Exchange (NSE), US exchanges (NYSE, Nasdaq)	US exchanges (NYSE, Nasdaq)
Products	stocks, ETFs, fractional shares	stocks, ETFs, fractional shares
US stock or ETF order	1% of the order	0.25% of the order, minimum $1
Investor protection	SIPC	—
Deposits and withdrawals	Bank transfer, M-Pesa	Bank transfer
Available only in	Nigeria, Kenya	—
Minimum deposit	—	$500
	Read review	Read review

Which regulators license Hisa (formerly Chaka) and Sarwa?

Hisa (formerly Chaka) is licensed by SEC Nigeria; Sarwa by FSRA (ADGM).