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SelfWealth
4.2 from 144 reviews

Gobsmacked!

It took me since November to make a trade and so have missed out on trialling some of the premium features but I have been gobsmacked by the ease of using this professional and efficient program.

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1 comment
Thanks for the review Fredy, great to hear that you're enjoying the platform!

Easy to use and fantastic platform with low fees

I am new to share investing and i must say SelfWealth is amazing!
I started with an account with CMC but i am so glad i moved to SelfWealth, The platform is easy to use and i have received excellent service.
What i like most about Selfwealth is the fact you can compare other members portfolio and align your portfolio to more experienced investors with help from SelfWealth.
Overall SelfWealth offers a fantastic service with low fees.
I am a very happy Customer as long as the fees do not go up in the future!

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Lowest Fees. Highest Service.

I would like to thank the SelfWealth team for assisting me in transferring my shares from CommSec over into SelfWealth. Although there were some delays along the way they made sure to always keep me updated and to ensure I had the best experience possible!

1 comment
Thanks for the update Sam, great to hear your shares have come across from Commsec. Welcome to the SelfWealth community!

So Far so good

Early days for me but It saves me money on every trade leaving more money to invest and they made transferring my portfolio across from my existing broker simple and straightforward.


Like what I'm Seeing

I was after a new trading platform so that I could pursue a different trading strategy (in addition to what I'm doing on Commsec). I like the Selfwealth interface, I like the mobile app. I like how easy it was to set up. I particularly like reducing my trading costs by 50%.


Moving has been very slow, interface is great!

I decided to make the move from CommSec due to the $9.50 flat broker rate and receiving the offer of 5 free trades to begin with. After signing up and using the site I was very impressed with the interface, the organisation of watch lists, the key measures and community analysis. The only issue I have faced is moving accounts and how slow the responses and help given. Initially I was told I needed to sign and scan back, instead of using a digital signature. Then after this was sent back I was told I missed the address part. Not sure why this could all be told together in 1 response. Anyway 8 working days later and still at 70% complete! But look forward to getting on the platform and making some trades!


Very Good, Some fine tuning needed but getting better all the time.

I'm a new user, was pleasantly surprised with the registration process, well thought out and not overly time consuming. Trading experience has also been very good, notifications and confirmations excellent.

1 comment
Thanks for the review Rob! What are you look for in terms of 'fine tuning'? It would be great to know so we can improve the platform.

Self wealth works

So far, excellent actually, but I'm a cautious person in giving ratings, so being new, I'm biding my time. Why do I have to give thirty words? So far, all is well

finally.... an excellent way to trade on asx for almost only 9.50 flat!!!!!

Best trading platform ever.... Highly recommended to everyone. I have personally switched my comsec account to self wealth and advertised it to all of my friends. I will never regret it.

Excellent platform for 1st time sharemarket investors!

The platform is very intuitive and well laid out, which helps a 1st time investor find their way around making their initial share/ETF purchase. Online support was excellent and informative.

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Thanks for the review Juan, great to hear you're enjoying the platform!

Quite good, but has limitations

Need to have capacity that once you place an order, to place another order without going back to home screen. That is, a button on the confirmation of order screen.

Very limiting that i can't quickly see my Portfolio.

1 comment
Thanks for your review Towbar, and we appreciate the feedback. In regards to your statement that you can't see your portfolio quickly, do you mind expanding on that? You can view your portfolio instantly by clicking the 'My Portfolio' menu option. We'd love to be able to help out.

Simple to use, low brokerage, interesting data

I've been using SelfWealth since October, and it's the easiest to use trading platform going around. I also use CMC and have used Commsec, and it's simple interface lets me do what I want to do -- buy and sell. On top of that, it's the lowest fee for brokerage. The community data is super interesting, helping me decide against or for an investment decision.


Good price but need to impove interface

Hard to see graph of share price and it's too small look at comsec as an example much better usability but can't beat the prices of self wealth I use comsec to watch shares and self wealth to trade not the most efficient but works
Upgrade usability of app and it will be 5 stars and information avaliable


Great app!

I love this app. Easy to use and awesome support team. I would definitely recommend for both first timers in the investment world and veterans. Happy to see continuous improvement as well.

Very comprehensive and easy to use

Compared with my predecessor on-line broker it is much more state of the art. Great visuals and rating of each stock. Easy to use and to navigate around the screens

2 comments
Thanks for the review Tony, great to hear you're enjoying the platform! Who were you with before SelfWealth?netwealth

This is great software very cost effective and easy to use

I found SW very easy to use considering this was my very first introduction to the stock market world SW was my very first entry in to the stock market it has been a very pleasant and easy experience. Thank SW team.


Self Wealth is excellent

Started investing and this platform is excellent not to mention the cheap trading flat rate. Only issue is how long it takes to transfer funds in. Seems to take a bit longer than it should. I have not transferred out as yet so don't yet have that experience.


Takes 1-week to setup account (Registration to first trade)

This service is fantastic at $9.50 per trade, a small price to pay long-term but initially the setup is a ridiculously long process, and to be honest it's rather pathetic.

A basic time-line to expect when setting up an account with SelfWealth.com.au

- Initial Application (two days) - If ID is confirmed automatically, if not +2 more days
- ANZ Bank Setup (automatic by SW) an additional day
- Initial Deposit of funds to start trading (24 / 48 hours by BPAY / Bank Transfer)

That is an entire week gone, just for the account setup. What the heck?


Excellent brokerage, slow transfers

I’ve been using ComSec with my linked CBA bank accounts for a long time. Having now moved to SW, my main disappointment is that it takes so long to transfer cash from my CBA accounts into SW. With ComSec I could move much quicker on any pricing opportunities. Buy shares at will, then transfer the cash into the ComSec account within 2 business days after purchasing the shares. With SW, I first have to transfer cash, which has taken up to 3 business days (!), and only then can I purchase shares. I have missed out on many pricing opportunities since moving to SW because of these slow cash transfer arrangements. I don’t understand why it takes so long to move cash between CBA and SW. I regularly transfer cash between WBC and CBA, and the transfers happen same day. If SW could allow faster cash transfers the product would be much better.


Much to hard

I tried to register and every time I sent a form in I was told I needed another one. Finally I was told that it was the last form and then it was wrong. Just to hard to get it registered. They don't have a phone contact that would be very helpful to get through the process.

1 comment
Thanks for your review, Michael. Apologies for the bureaucracy, we have AML and CTF obligations that required a certain level of checking, which can get between you and opening an account. To be able to provide the flat-fee $9.50 trades, we've got to be a lean team, meaning all our support is via live chat or email. Hopefully, you're enjoying the platform now!

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Questions & Answers

hi assuming complted sale of shares what time frame is expected for those funds to be transferred out to an external bank acct ,and any time cutoffs ,other rules
1 answer
Hi ACE, the process with us is the same as with any other ASX share trading platform. The settlement is trading day + 2 business days (referred to as T+2) which are ASX rules. You can then transfer out to any bank account that you have connected to your SelfWealth account, the speed of which will be determined by the time of day (and day) you request the transfer out and the bank you're transferring to. Please note that if you wish to continue to trade, you can use those funds instantly after selling, you don't have to wait for settlement. Thanks for your question!

does self wealth have any lien on my investment account? If so, can you please clarify the conditions of such lien? thank you.
3 answers
Hi Alan, we won't ever do that -- as soon as you or other clients want to sell your assets you can. Provided the market is open, of course. Hopefully, that answers your question.Thanks Jarrod. Apols my Q perhaps should have been in regard to withdrawing funds, as opposed to making a buy/sell transaction.Hi Alan, Our client cash account structure is a key difference between us and the likes of Halifax, who have been in the news recently. Client monies are held in a trust account in SelfWealth’s name as bare trustee; monies are physically held by ANZ. SelfWealth is not entitled to withdraw any amount from client cash balances in the trust account, except in accordance via a direction from the client. Each SelfWealth cash account is reported individually to APRA by ANZ and the trust account is governed by ASIC and cannot be used for corporate purposes, including (and importantly) if SelfWealth were to enter administration or liquidation and needed to pay debtors.

Can one place a market order outside of exchange open times e.g. buy at market on open/close
2 answers
Yes, you can, but you can't use "market then limit" to place the order, i.e. buy/sell at the best rate on the market currently, as the market isn't open. You'll need to specify your buy or sell price limit. You will see this in "Price Type" when placing an order.Thanks Jarrod