Wealth.ng is an investment marketplace that allows users to invest money in treasury bills, stocks, mutual funds, real estate, etc. In this post, you will learn how to use Wealth.ng, how to invest, buy stocks, withdraw, and many more.
What is Wealth.ng, and how does it work?
Wealth.ng is a Fintech product of Wealth Tech Limited. Wealth Tech Ltd is a financial technology company that aims to enhance finances by developing top-notch technological applications.
With Wealth.ng, you can increase your wealth by investing in any of the asset classes on the platform. This includes treasury bills, stocks, mutual funds as well as real estate products.
Wealth.ng will walk you through the investment process and guide you on what to do at each moment. Also, you can have a personal wealth advisor assigned to you.
As a user, you have control over your investments and you can make an update to your personal profile settings whenever you wish to do so.
Is it safe to use Wealth.ng? How secure is Wealth.ng?
Yes, it is. Wealth.ng is duly registered with the Corporate Affairs Commission (RC 1547536). Speaking of security, Wealth.ng uses bank-level security coupled with encrypted in-app communications and SSL.
Wealth.ng is also an affiliate of Sankore Securities Limited, which is registered with the Nigerian Stock Exchange and regulated by the Securities and Exchange Commission (SEC) in Nigeria.
Wealth.ng processes transactions through a very secure payment gateway that we all know as Flutterwave. This gateway also has a PCI DSS certification.
Requirements to open an account on Wealth.ng
First of all, you have to be up to 18 years of age before you can start investing and using Wealth.ng services. If you’re 18 years or older, here are some key documents you need to have before you can register an account.
1. A valid means of identification. This can be any of the following documents.
- International passport
- National Identity Number (NIN)
- Driver’s license
- Voters card
2. Your Bank Verification Number (BVN)
3. Snap a clear selfie image or headshot of yourself. Save the picture to your device.
4. Some details will be required whenever you’re creating an account with Wealth.ng. These include your:
- Full name
- Email address
- Valid phone number
Wealth.ng mobile app download
You can use Wealth.ng on the web. Open any browser and type “Wealth.ng” in the URL/address box. Once the page loads, click on get started and commence your registration.
If you own an Android device, you can download the Wealth.ng app from the Google Play Store.
Users of iPhone devices can also download Wealth.ng from the Apple App Store.
Creating an account on Wealth.ng
Users can register on the web and also on the mobile app. Whichever one you prefer, note that there are two types of accounts on Wealth.ng. We have Self Starter and White Glove.
White Glove account on Wealth.ng
The White Glove account type is for users that have little or no prior experience in investment. This account type will also tutor them on how to use some features on the platform.
Note that Wealth.ng can make some investment decisions on your behalf if they feel they need to do so.
Self Starter Account on Wealth.ng
Just as the name implies, the Self Starter account type is for users that know how to invest and have some level of experience.
These types of account users are free to make their own investment decisions. They can buy and sell in whatever way they deem fit.
What investments can you make on Wealth.ng?
After creating an account, there are many asset classes you can invest in. These includes:
- Fixed Incomes like Eurobonds and treasury bills
- Real Estates
- Gifts, etc
How to fund your Wealth.ng cash balance
Before you can make any investment, you need to fund your Wealth.ng cash balance. With your cash balance, you can make investments and also receive your returns.
- Press the yellow “Deposit” button on your dashboard
- Input the amount of money you want to deposit
- Select the payment method you prefer. It can be the card or account transfer option
- Complete the payment
The amount you inputted will be credited to your cash balance.
How to buy stocks (and other products) on Wealth.ng
You can buy investment products and sell them later when the prices go up. Here’s how to buy a product on Wealth.ng.
- Locate and click on “Investments” on the side navigation
- Select the product you want to invest in and click on “Buy”
- It will be added to your cart. You can also browse other products as well. They will be added to you cart after you click on buy
- Once you’re done selecting the products, go back to your dashboard and navigate to the cart page
- Confirm all the investment products and their prices
- Click on “checkout” and your investment will be processed
How to sell stocks (and other products) on Wealth.ng
If you want to sell a product you already bought, follow the steps below.
- Locate and navigate to the “My Portfolio” tab. It’s just under the investments tab
- You will see your products here. You can click on a product to see its detail page
- Now pay attention. If it’s a product you can sell at that moment, its “Sell” or “Liquidate” button will be active
- Just press the “Sell” button and the product will be added to your cart
- From your dashboard, go to your cart page
- Confirm the price and if you’re satisfied, click on “checkout” to complete the transaction
Your cash balance will be credited with the value of the product you just sold.
Wealth Cash on Wealth.ng
Wealth Cash is a savings product on Wealth.ng. You can start saving with as low as ₦1,000. Wealth Cash has a return on investment of 7% per year.
This return on investment is much higher than that of Treasury Bills. If you’re interested in saving money on Wealth.ng, follow the steps below.
- Navigate to “Marketplace”
- Click on “Wealth Cash”
- Input the amount of money you want to save
- Make the payment from your cash balance. You can also pay directly to your bank card or bank transfer
- Visit the “My Portfolio” page to see your savings and the interest accrued over time
You’re free to withdraw your money at any time. However, the longer you leave it, the higher your returns.
Wealth.ng transaction fees and service charges
The service charges on Wealth.ng vary based on the type of investment you’re making. Treasury bills and bonds (fixed-income investments) have no service charges attached. Same for Wealth Cash.
However, stock purchases and sales will attract some service fees. Note that almost all of these fees are statutory. They’re not imposed by Wealth.ng, but by some institutions set in place to monitor and protect you as an investor.
Here is a list of the service charges and commissions:
- Brokerage Commission
- Consideration Fee
- SEC Fee
- CSCS Trade Alert Fee
- Stamp Duties
- VAT on Trade Alert
Where is the Wealth.ng head office located?
Wealth.ng has a physical office in Nigeria from where they manage the investment services they offer.
You can also visit their office for complaints and enquiries. It is situated at 33B, Cameron Road, Off Alfred Rewane, Ikoyi, Lagos, Nigeria.
Wealth.ng customer care and email address
You can always reach out to Wealth.ng if you have questions and complaints. They have customer support staff that will attend to you. You can also contact them through their email address and their social media channels.
Phone number: 0700 9325 8464
Email address: email@example.com