Can you explain the fees and charges with an example?
Sure. Let's assume you want to invest USD 2,000 in US stocks with Winvesta. Here's how the charges in the process would look like
- Remit USD 2,000: Your bank may charge a fixed fee for the transfer plus an FX spread. There is no incoming wire fee that Winvesta changes. If you used a guaranteed USD amount transfer, then USD 2000 gets credited to your brokerage account.
- In the first month, you make 12 trades to build a starting portfolio of 12 stocks. The first 10 trades would be commission-free. You will pay $1 each for the next 2 trades, so the total commission paid is $2
- In the second month, you sell 2 holdings, and buy 2 new ones, for a total of 4 trades. Since 3 trades were commission-free, you only pay $1 for the one extra trade.
- For the next 3 months, you make no trades - you pay no fee.
- And so on. Commissions outside of the free trades are the only fees you pay to Winvesta in the normal course of trading.
- After a year, you want to withdraw USD 1,000 back to India. There is a flat $10 charge for that, paid to the bank for the wire fee. Your receiving bank may charge you an FX conversion spread and fee.