Invest in the US financial markets from India at a low cost.
Winvesta is one of the fastest-growing investment platforms in India thanks to its low brokerage fees on US stocks and ETFs.
This review will explore the features, benefits and drawbacks of using Winvesta, to help you decide if it’s the right platform for you.
What markets can I trade with Winvesta?
Most discount brokers in India only offer access to domestic markets like the NSE and BSE. Winvesta, on the other hand, only offers access to the US market through popular exchanges like the NYSE and NASDAQ.
Currently, Winvesta allows users to invest in over 3500 equities, ETFs and even ADRs — all of which are certified to be compliant with Indian regulations.
All users begin with a basic Winvesta account, which allows them to buy and sell financial securities like stocks, ETFs and ADRs. This one account combines the functions of a typical trading and demat account. As a result, you can not only trade securities but also hold them overnight with a single Winvesta account.
Winvesta Account features
Here are some features that you can expect with a Winvesta trading account.
- A good range of financial products.
- Equities. Gain access to stocks on the New York Stock Exchange (NYSE), National Association of Securities Dealers (NASDAQ) and the American Stock Exchange (AMEX). This means that you can now trade stocks in well-known American companies like Tesla and Apple.
- ADRs. ADRs, or American Depository Receipts, represent a foreign company’s stock and allows that company’s shares to trade in the US financial markets. This means that with Winvesta, you can also gain exposure to foreign companies headquartered outside the United States.
- ETFs. Invest in certain subsections of the market, from Biotechnology to the Oil Industry, using ETFs. Since ETFs are investment instruments that package multiple equities into one larger “fund”, you can invest in huge sections of the market with the click of a button.
- Fractional investing. For retail investors who are dipping their toes into global investing, putting 2200 USD towards buying just one of Google’s Class A shares can be nerve-wracking. Fractional investing allows you to purchase a fraction of any share on the market, which means that you can invest just 1 USD in Google if you want to.
- Mobile trading. Winvesta only offers its investment services through its mobile app, available on both the iOS and Android platforms. The mobile app is easy to navigate and sign up for.
- Research & Reports. With Winvesta, you can read the latest news about your portfolio companies and also get price target updates on your stocks.
- Alerts. Set alerts to be notified of stock movements, company announcements and board meetings. You can also set notifications for specific trading activities and order confirmations.
- No lock-ups. Buy and sell stocks whenever you want, as long as the markets you wish to trade in are open.
What are Winvesta’s fees?
Brokerage pricing plans
Winvesta offers two brokerage pricing plans.
- Basic: A Basic Winvesta account offers access to all the features outlined above for free.
- Foreign Currency Account: Pay $1.90 per month to enjoy better foreign currency conversion rates with commissions waived, as well as the ability to invest using 30+ currencies including USD, GBP, and EUR.
Trading, transaction and account fees
Here is a short snippet of the important fees you could be subject to.
- Commissions. For your first month, the first 10 trades are free while only the first 3 trades are free for the months that follow. In each month, all subsequent trades will be charged at $1 per trade.
- Withdrawal fees. Any withdrawal of funds out of the account will cost $10 per transaction.
- Security transfer charges. If you wish to migrate your positions to another broker, you will be charged $100 for the entire transfer process.
- Returned wire transfer fees. If your wire transfer into or out of your Winvesta account is bounced or fails, you could be charged anywhere from $25.00 – $85.00. Usually, this fee will be directly charged by the third-party bank involved.
- W8-BEN Form. If you are not a US national, the W8-BEN form prevents double taxations and specifies how much of your returns are to be withheld for tax purposes, if any. Getting your W8-BEN Form filled out will cost $5, and it is compulsory.
Do note that the fees above are not exhaustive, and will differ depending on how you use your broker account. You can refer to Winvesta’s website for a detailed list of fees and use their brokerage calculator to estimate exactly how much you might end up paying. Do also note that certain charges listed above have been waived by Winvesta for a limited period of time.
Pros and cons
- Access to US equity markets
- Seamless mobile trading app that simplifies the investing process
- Only selected stocks receive analyst investment updates
- No access to options, derivatives, futures, indexes, cryptocurrencies or IPOs
Is Winvesta safe?
Winvesta is indirectly authorised and regulated by the FCA, the UK’s financial services regulator. Winvesta also complies with regulations set by SEBI, including the Liberalized Remittance Scheme, which limits Indian nationals to $250,000 in overseas investments per year. Additionally, your brokerage account will be registered with DriveWealth, which is certified by both the SEC and FINRA.
As such, Winvesta is generally considered safe.
Note: Investing and trading itself always carries risks which you should be aware of, so read up before you start investing. Do your research and compare brokers in India before signing up with any trading platform.
How do I sign up for an account?
Signing up for a Winvesta account can only be done through the mobile app. Once you download the respective app for your platform, you should follow the steps below.
- Fill up the following details wherever requested, including your name, mobile number and email address.
- You will be prompted to submit supporting documents. This may or may not include your Aadhaar card number, proof of income, photograph and PAN number.
- Once your account has been verified, you can access all trading features and check on your account’s details on the account tab, on the bottom right corner of the app.
If you are an NRI or domestic Indian resident who has been looking for a way to access the US market, Winvesta might be a good fit for you. It even offers a no-frills mobile app that allows you to trade lower-risk financial products like equities and ETFs at an affordable price.
However, do note that Winvesta does not offer access to the Indian markets. As a result, Winvesta could serve as a useful complement to your traditional discount broker in India, helping you create a diversified investment portfolio.
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