Selfwealth
- selfwealth.com.au
- ✓ Verified company
588 reviews · Statistics
Reviews
Partial Brokerage
Buying and or Selling has become a slow partial crawl. If you need to totally sell out or buy in to a position, then be prepared to wait. It may take 2 minutes or 2 days, BUT in reality when your order is partially executed, you can cancel and re order etc. Of course this takes time and also you will incur extra brokerage fees.
If you have time then fine but if you don't like most, be prepared to pay$$$
I just sold out of a position which took 3x $9.50 brokerage and a finance hit, just so I could re position my portfolio as quickly as possible.
The scam is the partial brokerage.
Effective way to invest
This is an easy way to be able to make my investments
Inefficient
It takes 3 days to transfer fund into the account, BPAY may be faster but still takes 2 days. Fund must be in before you can place an order. What I found bizarre is that when you sell your shares or receive dividends, the fund appears in your account but cannot be accessed for at least 2 days. If this was the case, why do they require buyers to have their fund ready for a purchase and at the same time, sellers don't get the fund immediately on sale. Changing the withdrawal bank account details was a nightmare. They require you fill in a physica
... Read morel form with wet signature, take a photo showing yourself and the photo ID next to your face, just to change an account number. This is so backwards, inefficient, and turn people off. The online login, 2-factor authentication is not as simple as just a code sent to mobile. The inconvenience and inefficiencies of the platform and services make the $9.50 fee for buy/sell not worth its price. It's also on the high side compared to other trading platforms currently in the market.
Easy to use but slow and passive aggressive customer service
Nice platform that has become a little expensive compared to its competitors. But what got we was their slack or extremely slow customer service. When I followed up after not hearing anything for 3 days they became condescending and passive aggressive.
Find out how Selfwealth compares to other Forex & Share Trading Platforms
Know better, choose better.
Best platform
I recommend you just check out how easy the Selfwealth platform is.
Amazing customer service
Selfwealth's customer service is exceptional. Their support team consistently goes above and beyond to address any inquiries and concerns promptly. Their responsive and attentive support team makes a significant difference and this level of service comes highly recommended.
Easy to use platform
This platform very easy to use even for a new user.
My experince
I have had a few other investing brokers that I tried out before this one. The prior one changed one of its policies to actually charge me an overnight fee for a stock which has no CDF or any other extras on it. I left and found this one, a single charge of 9.50 and I get to let my stocks grow. I also later on got letters from my investments introducing themselves to me and thanking me for purchasing their stock. Not to mention that as an inclusion I get to see how well my stocks are performing against the rest of the Australian market, which even if I've gone down a bit lets me know how well overall I'm going. Highly recommended.
Selfwealth does NOT support OSKO payment
The platform itself is good but what's frustrating and misleading is the fact that Selfwealth claims it supports OSKO deposit but does not in reality.
Edmund, the consultant from Selfwealth, has spent the last hour arguing over the definition of osko with me and that it's not always instant, as opposed to answering my simple question: does Selfwealth support osko deposit.
Firstly, I would suggest Edmund to work in a field other than customer service. Secondly please brush up your knowledge on this before educating others about what an osko is
... Read more. I had to wait at least ONE WHOLE DAY for the deposit to reflect in my Selfwealth account. This has been the case since I opened my account a couple of years back. Transfers take between 1 - 3 days to arrive, yet despite this Selfwealth to this day continues to advertise that they support osko transfers. Disappointing.Find out how Selfwealth compares to other Forex & Share Trading Platforms
Know better, choose better.
Don't expect customer service
This business refuses to correspond by phone or to respond via its chat function even if you are trying to resolve a seemingly simple issue. If this is the standard of service I don't propose to trust them handle my money.
The 1 star reviews are hilarious. They respond people saying they dont respond to emails by suggesting thy send an email
Is that not hilariously tone deaf.
Honestly not a terrible company
The free webinars are okay. But I suggest you migrate your portfolio to Stake who are offering $0 for 12 months upon transfer and $2 trades thereafter.
I wanted to leave a more positive review but the customer service could be replaced by golden retrievers and leave a better impression.
Theres no way to contact them if there are any issues and lets be honest, that can cost us thousands of dollars, which wont ever be compensated or even acknowledged. With Stake I receive a r
... Read moreesponse within 20-30 minutes via email. The only way I ever received a response from Selfwealth was by sending the same email 20+ times. There was no other way, phones are not manned ever and you wont receive so much as an automated response specifying expected wait time.
Great product improving with time
Low cost brokerage as a flat fee which beats all the big banks. The real benefit of this vs other low cost brokers is CHESS sponsorship for ASX trades and the fact that your shares are held in your own name. Very few low cost brokers offer this and this along with flat fee trading put them a long way ahead of peers. The mobile app had some teething issues about 12 months ago with being locked out/failed logins but these problems seem to be resolved. Also issues with entering trades in illiquid stocks with wide bid/ask spreads also seem to have
... Read morebeen solved with the move across to FNZ, their new execution, settlement and clearing provider. Their previous execution provider seemed to have issues with these type of orders being rejected. Takes a little while to get used to online chat vs having someone that can be called but find that for most issues there is a quick fix and other issues just require a bit of patience however the low cost justifies the once a year need to use the chat. Overall a great product that is consistently improving. I'm a happy customer and have referred to many mates too.Find out how Selfwealth compares to other Forex & Share Trading Platforms
Know better, choose better.
Better then the big Banks
I haven't had any issues with customer service, email is what I use if needed and an answer is always within a day. The referral system is wicked too, I've saved hundreds. If you're sick of giving your money to the big banks like I was but don't trust the budget brokers give them a go
Cheap fix brokerage but terrible to non existing service
Already existing account holder in my own name.
Wanted set up trading account in name of my SMSF
Applied and documentation all accepted on 19 July 2023
Now is 4.48pm 31 July and missed the market for last 11 trading days and lost of money
My new account is still not open and trading despite many emails and promises saying within 3 business days, then formatting problems will be fix with 48 hours .
Made enquire 10.30am 31 July, still having formatting problems and afflicted partners issues and will be operating in THREE Business Days, by which time will be about over 16 days.
Cheap fixed brokerage but little or NO service.
What happened to electronic instant communication?
Seems don’t exist within SelfWealth!
Am just about done with Selfwealth
Wake up Selfwealth! It's the year 2023 and your fees are now expensive compared to others in this space. Stake, Pearla and CMC are leaving you behind. Why not bring back free ETF trades? Why not drop your fees a little for trades under $1000? Give us something please.. or we will obviously jump ship sooner or later. For what it's worth I like Selfwealth and dont want to leave but constantly paying $9.50 for my small ETF puchaces hurts. I hope Selfwealth will get with times soon.
Hi Jackie,
Thanks for the note here — any feedback honestly helps a lot. We've recently trialled lowering US brokerage to $2 USD, which is lower than many in the market. The success of this trial ma
... Read morey influence further promotions and pricing, but as an ASX listed company we obviously can't say much. In the meantime, referring friends will get you 10 free trades worth $95.Questions & Answers
Please stay away from Lexatrade. One really need to be careful of what the do online. I was a victim to Lexatrade they made me lose all my funds and I was blocked by them and I was unable to reach them on Skype but I was unable. But am glad I took the risk of working with mr Jeff silbert after I have hear so may review about him. He though me a lot and with his guidance I was able to recover my funds which I lost to Lexatrade. I can’t thank you enough Jeff buy saving me from worst mistake is something I will forever be grateful of. I highly recommend anyone in help on how to get your funds recovery reach his WhatsApp +84 94 767 1524.
Email jeffsilbert 39 gmail com. I hope this reach out well to any victim to lexatrade. God bless you.
Researching platforms and checking reviews are the best thing you can do, it can save you a lot of grief. It is unfortunate that you have learnt that the hard way.
Am glad you got your funds back. I got mine too with the help of Jeff silbert. I highly recommend jeffsilbert I was able to communicate with the same details you gave. God bless you Jeff
Thank you for your comments, but for your information, we are Selfwealth and are not linked to Lexatrade in anyway.
Why am I seeing “Please Search Stock” when I’m trying to sell or buy??
Hey Lois, You will need to search for the stock or ticker code you want to buy or sell first. Here is a tutorial you can reference: https://youtu.be/fljsc6MyElM
Or feel free to contact our team for help: support@selfwealth.com.au
Get an answer from our members and Selfwealth representatives
Details
Contact info for Selfwealth
| Mon | 10:00 am - 6:00 pm |
|---|---|
| Tue | 10:00 am - 6:00 pm |
| Wed | 10:00 am - 6:00 pm |
| Thu | 10:00 am - 6:00 pm |
| Fri | 10:00 am - 6:00 pm |
| Sat | Closed |
| Sun | Closed |
- ABN: 52154324428
Extra Information
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.
Hi Barry,
We apologise for the time taken to get back to you. It appears that the ticket have been marked as solved. Please don't hesitate to let us know if you still need any help. Thank you.