Excellent value but a bit lacking in features
Considering this is a free service (unless you upgrade to premium), and that the brokerage is less than 10 dollars per trade, independent of the size of the trade, it's fantastic value for money.
There are some downsides. One is lack of stock analysis. Although you can see your portfolio moving in real time, you can't analyse your holdings other than very superficially. Another issue is funding your account. You'll need to fund it well in advance of any purchases, as you can only move money to (and from) it by using bank transfer. There are so...
good friendly interface...
good friendly interface, makes it easy to use for beginner trades like me.
$9.50 per trade is a decent price too.
Can only trade is Aus for the moment but US is coming soon
use my sign up link //https://t.co/WC7qqIoyp $9.50aud for your first
5 trades free.
Transferring shares screws up entire site usability
I recently signed up to self wealth a brought my shares across from Commsec. Once the shares arrived i updated the manual data to reflect my account p/l. Their site didn't update any of the metrics. It works off only shares you purchase with them. Furthermore i spoke to 2 people about it. The first Jake was completely unhelpful and couldn't explain exactly how it worked. The second, whose name i forget, refused to escalate the issue and then blocked me from using the chat! I wasn't rude i was just trying to understand why my issue couldn't be r...esolved or escalated. Why would a company use the purchase date to calculate the pnl of a portfolio? It makes zero sense it's simply purchase price against current price. At the very least allow people to change it to reflect their actual portfolios. As i brought over shares from elsewhere the metrics will never be correct so i'm left to track my portfolio manually. I'm so glad i only transferred my small portfolio and not the larger one with my other broker. STAY AWAY. This is not a broker i would trust anymore. They refused to help or even get a technical consultant involved.
Cheap trades is nice but the interface is pretty useless and the app really doesn't offer much. It's good to use Selfwealth along with other apps that have more information that you need. I only use Selfwealth for trades, any information gathering I get is from other services.
Cheap brokerage is the only reason to use.
Brokerage fee is competitive for the Australian market. However, you get what you pay for as the app is disappointing. Graphs are useless, stock info is lacking, and there bare bones evaluation on your positions. Have to calculate your portfolios P/L manually. I recommend this platform as nothing more than a means to buy into the Australian market, it is no good at anything but that.
The service is very good. As a beginner it came highly recommended. I would recommend it to others, both starting out and experienced.
A couple of small things, is the delay in transferring money into your Selfwealth account. I've seen this issue addressed before on Reddit etc. But anything more than a couple of hours delay is less than ideal. It usually takes a couple of days.
Another change would be in the app, to be able to change what the homescreen shows. Rather a profit/loss for that day, have the ability to change it to profit/loss overall.
Questions & Answers
Just wondering when the U.S. trading begins, will you be able to trade in bonds at all?
Also wondering if you are able to place stop losses via your trading platform?
I am dealing with another broker which I a my not happy and thinking of trading with you an i transfer the hares i ugh thank through them or do I need to sell and transfer money
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