Reviewer Photos & Videos
Looks good but takes forever to get verified and start trading - Poor customer service
I created an account so I can trade on American stocks easily. Low fees and the platform looks really good. However the process of creating an account takes 10x longer than you think. Very rigorous. Customer service is available through daytime hours but they are little help.
Long story short, if you plan on using self wealth to trade stocks, you should start your sign up process today and you might be able to trade stocks in 2022
Perfect to live without it
$9.50 for any amount of trade is very competitive!!!
The latest improvement with ASX announcements on time is a big + for me.
The condition of placing trades with only a 50% margin is not favourable if trading small speculative stocks able to jump 90-200% in price for a day. Forces you to sit on the screen for a whole day.
There is no phone or net communication with instant response.
Feedback only or auto-generated answers not related to the problem you may have.
Poor service, deposit still not available after 2 weeks
I made 15k deposit on the 27/5/21, received email from [Name Removed] @seflwealth 1/6/21 confirming receipt of of my deposit and because my old account is closed, a new account needs to be set up for me.
I know SelfWealth is low cost service and reading from reviews it takes time for the to action things. however not having any further updates after 2 weeks, I follow up on the 11/6/21 via the chat service, spoke to [Name Removed] who confirmed to me my funds will be ready by COB if not latest today 15/6/21 and this was further confirmed by [...
Room to improve
Deposit took longer than a week to reflect on my account, the customer service could be better, and trading platform could be fleshed out a bit more. Otherwise the company is quite new and the price is fair, hope they up their game in the future.
Best platform I've used
Intuitive and simple to use, I have used other platforms in the past and this is hands down the best! Great customer service, saved me a fortune on brokerage and my own HIN gives me peace of mind. Keep up the great work SelfWealth!
Sent a simple email enquiry 18 days ago and received an automated acknowledgement stating: "Resolving your query is a top priority for us, and we will be working hard to ensure we get back to you with a personal response as quickly as possible".
I am still waiting for a response.
Ripping trading platform
As far as platforms go this one is pretty easy to use, I can see what other members are trading on to get ideas and its got a sharp price point
Best trading platform in Australia
Safe and secure as they use CHESS sponsorship yet are a lot less expensive than the banks, I've already saved close to $100. Like their app and the customer service is very responsive.
account opening difficulties, now sorted
I have been unable to open smsf account in corporate name due to limitations on number of letters allowed.
no response from sw,t hough have acknowledged receiving question of how to proceed.
Maybe stay with current broker
Too many limitations
I noticed there is too much of a delay between ASX open time and actual trade in this platform. Also, after you sell a stock they hold the money for 72 hours before you can transfer to your account. Even after waiting for 3 days and your money is released, it takes longer for that money to be sent to the nominated account due to transaction delays. But when you deposit money it is almost instantaneous. Valuable trading features like trailing stop loss are also absent.
Easy, intuitive +online support
Relatively new with SW but it is really easy and intuitive to use, no matter you have never used on line brokerage (apps.). SW has transparent flat fee $9.5 per trade. Live chat with SW staff is 10am-4pm per weekdays/trade days, what is "chat with a consultant" ( it is at the bottom of SW page when you are logged out !! but hard to find when you are logged in!?) and a chat is not with a bot!! and they are always there in 1-2 minutes and very helpful! Very quickly fulfilling your buy/sell orders. 90 days of trial but you can start to trade instantly,when you set your account, in a few days. I can really recommend those guys! Thank you SW!
I submitted request to close my account and they did. However, it is still visible and even I can reset password. I send many emails but they have no idea how to fix this technical issue. It is very poor service. Not recommended.
Selfwealth is FUN to use
Have used several trading platforms and based on my experience with SelfWealth, have transferred all holdings to SelfWealth. I prefer crowd based advice rather than brokers. Platform is easy to use and navigate and support is top shelf. Highly recommend.
Value for money
Just started with Self Wealth. Have found the platform easy to use, the set up straight forward, brokerage reasonable and the flow of information not too overwhelming. Generally everything going alright do far
Hi There, Have only been using this for a short while but seems great so far. It is good to be able to see what other people are doing with there portfolios as well.
Questions & Answers
Hi, I'm reading through SW reviews and notice a 3 day settlement period being mentioned. Isn't the ASX lead time Trade + 2 days and not 3? Would appreciate some clarity on the difference..
Yep, ASX is T+2 but sometimes the actual cash takes an extra business day to hit your account.
Hi im just wondering is there a limit or waiting period after selling shares? the funds are showing on the SW platform, but when i go to transfer it back into my personal nominated bank its rejecting the $2000.00 and only allowing me to access and transfer $500.00 is this normal? thanks
Hi Jude! To withdraw funds, you need to wait for the trade to settle. This is as the funds and shares have not technically exchanged hands until 3 days after you sale. The day after this, you will be able to withdraw your funds. If you want to trade on these "unsettled" funds though (i.e. buy more shares) you can do so without any issues.
Get an answer from our members and SelfWealth representatives
Other Forex & Share Trading Platforms
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.