Wealth.ng is a notable Nigerian online platform for investing in an array of financial assets including mutual funds, stocks and treasury bills.
According to the performance test conducted on Wealth.ng, the investment platform has performed remarkably in various areas of rating including financial strength, website transparency, pricing and discounts offered.
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For ease of access, Wealth.ng provides its users with a mobile app and the customary web-based platform.
Basically, this article is a comprehensive review of Wealth.ng and as such, it guarantees you honest information and all that you may wish to know about Wealth.ng.
How Is Funding Done on Wealth.ng?
In order to fund your Wealth.ng account, you’ll need sufficient cash balance. Put simply, your cash balance refers to the amount of money in your portfolio and you can top up this cash balance through bank transfer or by paying with your card.
Just as you might need the fund in your (local bank) account balance for transactions, your cash balance is also required for funding transactions such as the purchase of a Wealth.ng investment product.
On one hand, your Wealth.ng deposits are stored in your cash balance and on the other hand, the payments you reel in on mature investments are remitted into your cash balance.
If you’re paying for a Wealth.ng investment through bank transfer, you should note that these are the only banks you can transfer to:
- Zenith Bank
- Access Bank
- Unity Bank
- Providus Bank
- Sterling Bank
Trading on Wealth.ng –How Is It Done?
Trading on Wealth.ng could be your sure path to financial success as it involves buying and selling investment products.
You can begin trading on Wealth.ng by visiting the official website of the investment platform and complying with the instructions below:
- Selling your Wealth.ng investment product –navigate to the website’s side navigation bar and then select the My Portfolio tab under investments
- Once you’ve found your desired investment product, tap it so as to view its overview page
- Subsequently, you’ll be able to click the “Sell” or “Liquidate” button of the product (provided that you’re allowed to sell it)
- Add the product to your cart by hitting the attached “Sell” button
- Following that, you’ll need to complete your transaction by viewing your cart and checking out
- Buying an investment product –navigate to the side navigation bar and select investments
- You’ll find a list of investment products from which you should select your preference
- Hit the attached “buy” button to add the selected investment product to your cart
- Finally, complete your transaction by viewing your cart and checking out
Features and Investment Options on Wealth.ng
What are these investment options?
- Foreign and Nigerian stocks: this is an investment option that avails you the chance of trading local stocks on the Nigerian stock exchange as well as global stocks on the world’s leading exchanges. Through this investment opportunity, you could become a stakeholder in both local and foreign companies.
- Treasury bills:ng lets you invest in treasury bills which yield as high as a 13% interest rate. While Wealth.ng allows for investment in treasury bills of 30-120 days, it’s notable that the achievable interest rate largely depends on the principal amount and the tenor of the treasury bill.
- Real estate investment: this investment option is an avenue for you to invest in real estate properties. While this investment option comes at a reasonable cost, it also makes you one of the shareholders in Real Estate Investment Trusts (REITS).
- Agriculture investment:ng lets you realize as high as a 22% interest rate from investing in its agrarian business. For this agriculture business, you’ll have to put up at least #50,000 for the funding of a Wealth.ng farm.
How about Wealth.ng features?
- Self-starter account:ng offers this account type as an opportunity for a specified category of Wealth.ng investors. Broadly, such investors possess moderate experience of investments as well as the capability to make informed buy-and-sell choices on their own
- Trending products: these refer to the products commonly invested in by other Wealth.ng investors in the current period. Your access to these products gives you clear insight into the investment preferences of your Wealth.ng fellows
- White glove account: unlike the self-starter account, this account type is specifically for Wealth.ng investors lacking previous investment experience. Since such people are likely amateurish investors, the white glove account conditions Wealth.ng to help them make investment choices
- Portfolio: this feature may be termed the basic profile containing all of your Wealth.ng investments and financial assets. Additionally, there’s a portfolio distribution which enables you to view the varying investment types that make up your portfolio
- Gifts: ng allows you to give out a variety of assets (including cash products, treasury bills and stocks) to friends, relatives or other beneficiaries
- Wealth Cash: this feature lets you enjoy an annual interest rate that amounts to 7% of your saved fund. In other words, it’s a savings feature that guarantees you as high as a 7% annual interest rate
Exciting Benefits of Wealth.ng
Wealth.ng lets users enjoy a decent number of added benefits which they might not experience on many other competing investment platforms. Besides the fact that Wealth.ng is free to use and charges no investment fee, below are the other interesting benefits associated with the platform:
- Wealth.ng boasts a team of well-grounded wealth management specialists who provide Wealth.ng users with professional advice on wealth building
- The platform allows users to access a broad array of worthwhile investment products
- Users of Wealth.ng can gain access to a personal wealth advisor any time of the day
- ng investors are assured competitive ROIs
Hopefully, this review article has helped you find out everything you should know about Wealth.ng.
Investing in Wealth.ng products can boost your financial worth in the long run. But essentially, you should note that certain uncontrollable market forces can cause the investment products to experience fluctuations.
Concerning whether Wealth.ng is a legit investment platform, investors have nothing to worry about as Sankore Securities Limited (the parent company of Wealth.ng) is evidently regulated by the Securities and Exchange Commission (SEC) of Nigeria and duly registered with the Nigerian Stock Exchange (NSE).