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SelfWealth
4.0 from 440 reviews · View Statistics

Reviews

  • Transparency
    4.2 (212)
  • Rates and Fees
    4.2 (12)
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Adele D.
Adele D.Sydney, NSW

Looks good but takes forever to get verified and start trading - Poor customer service

published

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

Incentivised ReviewNo
pedropitz
pedropitzSydney, NSW
  • 3 reviews
  • 4 likes

Perfect to live without it

published

$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.

Incentivised ReviewNo
2 comments
SelfWealth
Jarrod P.SelfWealth
pedropitz
pedropitz

1 * in my opinion is for a lot to improve to get ***** from me.

Yi J
Yi JSydney, NSW

Poor service, deposit still not available after 2 weeks

published
Transparency
Incentivised ReviewNo
1 comment
Yi J
Yi J
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Halliday
HallidayHobart, TAS

Room to improve

published

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.

Transparency
Rates and Fees
Incentivised ReviewNo
1 comment
SelfWealth
Jarrod P.SelfWealth

Thanks for the review Halliday! That's not normal -- it's normally one to two business days but we're working on faster (instant payments) so that will improve. Plenty of platform improvements to come out this year.

Brendan M.
Brendan M.Greater Melbourne (Inner), VIC

Best platform I've used

published

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!

Transparency
Rates and Fees
Incentivised ReviewNo
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Petr
PetrDarling Downs, QLD

Still waiting

published

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.

Incentivised ReviewNo
1 comment
SelfWealth
Jarrod P.SelfWealth

Hi Petr, we respond to emails within a business day typically, so that's far from normal. It'd be best to chat to the team on live chat via selfwealth.com.au, they'll be able to look into it straight away for you.

Tech-Dad
Tech-Dad
  • 2 reviews

Ripping trading platform

published

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

Transparency
Rates and Fees
Incentivised ReviewNo
1 comment
SelfWealth
Jarrod P.SelfWealth

Thanks for the review, great to have you on board!

MelbSP
MelbSPGreater Melbourne (Outer), VIC

Best trading platform in Australia

published

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.

Transparency
Rates and Fees
Incentivised ReviewNo
1 comment
SelfWealth
Jarrod P.SelfWealth

Thanks for the review, we're happy to hear you're enjoying the platform!

David J.
David J.
  • 2 reviews
  • 1 like

account opening difficulties, now sorted

published

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.
Poor support
Maybe stay with current broker

Transparency
Incentivised ReviewNo
3 comments
SelfWealth
Jarrod P.SelfWealth

Hi David, it's best to talk to the team on live chat during trading hours. Although this is an uncommon issue, it's something that's easily fixed by the team and they're on hand to help you out.

David J.
David J.

tried that chat but no help

SelfWealth
Jarrod P.SelfWealth

Can you email me at marketing@selfwealth.com.au? I can look into it for you.

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SSchizzle
SSchizzleSydney, NSW
  • 7 reviews
  • 1 like

Too many limitations

published

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.

Transparency
Rates and Fees
Incentivised ReviewNo
1 comment
SelfWealth
Jarrod P.SelfWealth
Goran S.
Goran S.
  • 2 reviews

Easy, intuitive +online support

published

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!

Transparency
Rates and Fees
Incentivised ReviewNo
1 comment
SelfWealth
Jarrod P.SelfWealth

Thanks for the review Goran!

Paresh
PareshAdelaide
  • 2 reviews

Account Closing

published

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.

Transparency
Incentivised ReviewNo
2 comments
SelfWealth
Jarrod P.SelfWealth
Paresh
Paresh

You closed joint account which was connected with my email id Pareshpatel8386@gmail.com I would like to open my Individual account with Pareshpatel8386@gmial.com but its not letting me to do.

Vic R.
Vic R.Sydney, NSW
  • 3 reviews
  • 1 like

Selfwealth is FUN to use

published

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.

Incentivised ReviewNo
1 comment
SelfWealth
Jarrod P.SelfWealth

Thanks for the five stars Vic! We really appreciate it and are super happy to have you onboard.

RobT
RobTPerth, WA

Value for money

published

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

Transparency
Rates and Fees
Incentivised ReviewNo
1 comment
SelfWealth
Jarrod P.SelfWealth

Thanks for the review Rob!

malcolm
malcolmSouth East Queensland, QLD

Great product

published

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.

Transparency
Rates and Fees
Incentivised ReviewNo
1 comment
SelfWealth
Jarrod P.SelfWealth

Thanks Malcom, appreciate the review!

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Questions & Answers

Tradebake
Tradebakeasked

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..

1 answer
SelfWealth
Jarrod P.SelfWealth

Yep, ASX is T+2 but sometimes the actual cash takes an extra business day to hit your account.

Alan S.
Alan S.asked

Is there a limit to the number of trades I can do in one day or a week

3 answers
Tech-Dad
Tech-Dad

Nah, no limit it’s flat fee and no hidden costs.

Alan S.
Alan S.

Is there a law on to many trades?

Alan S.
Alan S.

Also is there a fee for withdrawal of money out of my wealth wealth acc

Jude
Judeasked

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

1 answer
SelfWealth
Jarrod P.SelfWealth

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.

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