Is Sharesight a Scam: A Brief Overview

As an investor, you’ve invested through multiple brokerage accounts. It’s increasingly common, with each brokerage targeting a specific area – maybe stocks, crypto, or options contracts. But here’s the catch: managing all these accounts can be challenging.

Sharesight has recognized this issue and offered a solution. But it’s not a brokerage. Instead, think of Sharesight as a supportive friend, helping you monitor all your accounts simultaneously.

Plus, when tax time rolls around, and things get tricky, Sharesight has your back. And, to make things even better, it can easily pair with several top brokerages. The question arises: Is Sharesight the right fit for you? This Sharesight review will examine its pros and cons. Let’s dive in and see what it has to offer.

Learn More About Sharesight

Is Sightsight a Reliable Portfolio Tracker?

Sharesight isn’t just some baseless platform; it stands strong as a genuine and useful portfolio tracker, especially if you’re an international investor. It offers three core strengths:

• Comprehensive portfolio monitoring, paired seamlessly with other brokerages.
• Precise dividend tracking.
• Efficient tax reporting.

Want to test the waters first? There’s a free version. But they have three advanced plans to consider if you’re looking for more robust features.

So, who benefits the most from Sharesight? If you’re a long-term investor, juggle multiple accounts, or have international market interests, Sharesight could be your new best friend. But if day trading or crypto is your game, Sharesight might not be the MVP for you.

Why Turn to Sharesight?

Sharesight isn’t just about portfolio analysis. Think of it as a tool that gives you more time. With a single glance, you can gauge how your assets are performing. This makes decisions much clearer, like whether to hold on or let go of an investment. Here’s what puts Sharesight ahead in the race:

• It’s a free version that genuinely adds value and isn’t just a bait to upgrade.
• User-friendly interface, ideal for newcomers.
• Simple trade imports into the system.
• Automatic updates on corporate events like stock splits and dividends.
• Instant tax report generation.

Now that you’ve got a taste of what Sharesight offers let’s delve deeper.

Features of Sharesight

Portfolio Tracker

Sharesight’s heart and soul is its portfolio tracking. With it, you can connect to over 150 brokerages and automatically pull in your trade data.

Even if you only use one brokerage, there are still perks. Unlike other trackers that only show buy/sell price differences, Sharesight considers:

• Capital gains
• Fees from brokerages
• Dividend changes
• Currency fluctuations

Additionally, you can easily set custom date ranges for tracking, group investments by market or industry, and even set price notifications. And if you go for their Investor or Expert plans, you can even include cash accounts.

Dividend Tracker

If tracking dividends across diverse markets and brokerages feels tedious, Sharesight is here to help. Connected to 40+ stock exchanges and numerous funds, Sharesight’s automatic tracking spans over 240,000 assets. When dividends roll in, Sharesight keeps tabs.

However, there’s a tiny catch. While Sharesight promotes its automatic dividend reinvestment plan (DRIP) tracking, it’s limited to specific stocks. For others, you’ll need to input dividend reinvestments manually.

Go for the Investor or Expert plans, and you’ll also get insights into possible future passive incomes.

Tax Reporting

Sharesight shines bright with tax reporting. Depending on where you live, it sets a base currency for portfolio valuation and even factors in currency shifts. You can also sync your tax reporting to align with your financial year.

Tax Reporting with Sharesight

When you’re trying to figure out your taxes, there’s a thing called the Taxable Income Report. It gives you a simple list. It has all your investments’ dividends, interest payments, etc. So, when tax time comes, this report helps you see how much you owe.

 Sold Securities Report

This report tells you about the money you made or lost from selling investments. But always double-check the numbers. You can also use this report to look at certain types of assets or ones from certain places.

All Trades Report

The All Trades Report shows you everything you bought or sold in one year. You can also save this report in different ways. And guess what? You can use all these reports even if you don’t pay anything to Sharesight.

What Can You Track with Sharesight?

Sharesight can keep an eye on many things for you:

• Stocks from over 40 places.
• Funds from places like Australia, Canada, and the U.S.
• Money from over 100 countries.
• Some bonds are from Australia and New Zealand.

They also watch some digital money, like Bitcoin and Ethereum. But they only do this for only eight cryptocurrencies. For others, you’ll need to add them yourself. And, if you have other stuff like gold or houses, you can add them too.

Sharesight works with many big investment companies, like Robinhood and E*TRADE. They also look at stocks from over 40 places around the world.

Is Sharesight Safe?

Yes, Sharesight is safe. Your information with Sharesight is safe. They have things in place to protect it:

• Two-step sign-in.
• Safe data transfer.
• Their servers have good locks and are watched all the time.

They also save everything and check their security often.

How Much Does Sharesight Cost?

Sharesight has different plans. Here’s a simple look:

Free plan

You can watch up to 10 investments, see reports, and share your portfolio.

Starter plan

For about $15 a month, you can watch up to 30 investments, see how you compare, and store some files.

Investor plan

For about $24 a month, you can watch as many investments as you want in 4 portfolios. You also get some extra reports.

Expert plan

You get everything from before for about $31 monthly but in 10 portfolios.

Many people find the free and starter plans good enough. But if you have many investments, you might want a bigger plan.

Wrapping Up: Is Sharesight a Scam

Sharesight offers useful tools to track and understand your investments. If you’re on the fence about trying it, remember that they offer a range of plans tailored to different needs. Don’t just take our word for it; see the features and benefits they bring. Click here to sign up and explore what Sharesight can offer you.

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