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Easy to Use
As a first time investor I've been impressed at how easy SelfWealth is to use and the amount of detail is surprising. The best bit is the price - extremely cheap trading fees.
So far so good.
So far so good. Easy to use for a beginner like myself, and very handy as a learning tool. Would recommend for anyone looking to dip their toe in the ASX
Do your research!!
Takes longer for your money to arrive.
You will ask questions and the customer support just sends you links.
You will open up request for further info, they will close them and not answer your query.
5 Free trade when referring your friends ins't automatic and extremely painful.
This company holds your money, just do you research.
3 days for money to be transferred into Selfwealth account
I hope they eventually come up with PayID. BSB transfers are painfully long. I transfered some funds on the Friday and only got them next Wednesday. Otherwise it's not a bad platform.
Better than Etoro
Account set up was very easy. Refereral program is a good idea as is the 90 day trial of the premium access.I tried to join Etoro prior but they are nothing but trouble.It took 6 weeks to get my money returned.Very happy with Selfwealth and definitely recommend
Good rate and easy to use
SelfWealth was easy to set up, fund my account, transfer to USD and start trading.
The website is fairly user friendly and has a basic tutorial for beginners and good flat rate per trade.
The app on the other hand, although similar in appearance, does not display the US stock portfolio, which is a minor inconvenience.
Difficult to open an account
After I went through the trouble to provide my details online and submit my application to open an account, it said I could not be EV'ed therefore needed to provide certified copies of 2 documents. SelfWealth should use a better system for verification, I used my NSW driver's licence in the application, my details are very standard - I have not changed my name and have the same address for more than 10 years, if that system cannot verify me I don't know whom it can verify.
One of certified documents required is a bank statement or a governmen...t/council/utility issued document such as ATO assessment, rates notice and gas bill, most of these documents are electronic nowadays (we are trying to save the planet, remember?), does SelfWealth expect me to download such a document then have it certified? What is it certified against? What does it prove? There is no such thing as an original bank statement (unlike a passport or driver's licence), a bank statement can be downloaded many times and has many copies. It does not make sense that it needs to be certified!
Great value , good value adds , but do have a problem with the way it encourages you to make more trades.
Great value , good value adds , but do have a problem with the way it encourages you to make more trades for no value to your customer. I think you under estimate your customer bases intelligence on this bvases
Simple to set-up and and manage. Clear fees and I especially like the community focus which is useful for a newcomer to investing and trading.
Looking forward to the new Android app.
I have used Westpac Broking, E*Trade and ANZ prior to Selfwealth. I really think Selfwealth has been the best so far and I plan to stay with for a long time. The low cost brokerage, simple interface and community focus us what makes this very different.
Streamline account opening, slick and ease of use UI, account split is very easy
I managed to open an account 100% online, very efficient. The platform is great, I think it manages to exceed my expectation by allowing me to compare my portfolio with other users. It doesn't come with nice graph or real time quotation (I might be wrong), but for long term investment, I don't buy share that often. I'm not sure whether it is suitable for trader who requires fancy graph or real time quotation, but for me, this is perfect. $10 AUD per trade is lower than bank-based broker, but it is still not cheap, I suspect may be the ...high cost of regulation that keeps most brokerage cost high. I was thinking SelfWealth share price would have done well when I search for brokerage service, it was just that by the time I found SelfWealth, its share price has gone up several 100% confirming that I am not the only one who are impressed by its service. In my honest opinion, for international share trading, SelfWealth offering is not compelling enough, however. For ASX share, more than happy to be with them.
Great but could have some extras
Great but would be good to have real time prices. Even if this was an added cost or free with a certain number of trades per month e.g more than three
Member for 1 month. All great.opened account and operating within a few days.all quick and easy. Slight delay takes a bit of understanding. Just Oz shares.ideal for me. No problems at all.
Modern fast app for trading Aus or US stocks
It's a great web & mobile app. Interface is simple & straightforward to use. Has some nice features like being able to compare your portfolio against others. Compared to the big 4 banks trading apps, this is out of this world! Maybe there could be improvements but so far it's done everything i need to do. The online support was helpful when I was waiting for funds to clear to $US. They answered quickly and accurately.
Cheap and website displays information well
Cheap for large amounts. The website is clean and easy to access and search different stocks.
Bank Transfer into the account usually took 1-2 days for me which is quick.
Has everything I needed for casual investing.
it works well
what I like that can buy USA stocks- excellent
Also can see what your profit and loses are easily each day
I would recommend to anyone starting out in stocks and shares
Couldn't ask for much more.
SelfWealth has provided me with everything I need after opening up a STA, coupled with an extremely well priced brokerage fee. I'm extremely happy with my decision to trade with them.
Good but could be better
Its a great platform however, transferring money takes excessive times, last time I transferred money it took 4 days instead of the 3 they stated as they don't use Osko and the free trades they give you have such a short expiry, the free trades should have a longer expiry date. Other than that its an alright platform.
slow, inefficient, non-existence support
This online trader is extremely slow and very inefficient and after two weeks of sitting on a simple account related update they send an irrelevant email to put the case back to pending and sit on it for another two weeks. Simplest account changes will take weeks with these, clearly, they can’t cope with the demand they seem to be having by mainly playing the price card and luring many to sign up with them. This is the beginning of their end and due to lack of complete inefficiency I have moved the portfolio out of this online trader.
Have no time to add another dumb provider to my list
Very slow to respond/act.
I have submitted the paperwork to transfer shares to my Selfwealth HIN in order to trade them. After 11 days and 2 emails...nothing. This process should take a couple of days at most.
Good brokerage, but a very limited app and too slow to get funds into trading account
Good value brokerage, SW's $9.50 is so far the closest Aus gets to the free brokerage offered by US trading apps.
On the downside, the SW app is poor - cannot access/research US stocks or see your US holdings on the app so must revert to a browser to do this. Cannot see your virtual portfolio on the app either. News and announcements aren't accessible on the app and are clumsy to save/open on the mobile browser site too. There is no SW integrated widget or price alert system either to replace the third party one i have installed. Market depth...for US stocks isnt supported so I have to use a third party US brokers app for this. Lastly, cash transfers into your trading account is INORDINATELY slow. You cannot move swiftly to take advantage of trading opportunities - theres no incentive to leave cash parked in your SW account so when you quickly need new funds in from an external bank account there is no instant bank-to-bank functionality. Even worse, trying to get those funds into your US dollar account (new funds introduced to your SW account rarely clear before 8:30am, and never clear over a weekend, and 9am Sydney time is the cutoff to transfer these funds to your US account for trading that commences 18 hours later). It is just so slow. SW wont let you direct deposit into your US account either, presumably because they want to clip your ticket on the Forex transfer which isn't at a particularly competitive rate. So: good in some respects, quite dated and slow in other respects. Once the 90 trial ends there will need to be improvements to convince me to stay and pay a subscription.
Estimated time to respond to a ticket is stated as being roughly 1-2 business days. It has been well over three weeks yet I still do not have a response to a basic question via email.
Its Value for Money
I just started this month, before selfwealth I was paying almost double Brokerage than what at Selfwealth. App is quite easy to use, a bit delayed. Very easy to start. We can follow fellow members Holdings thats a very good feature.
Great platform for share trading
With Self Wealth, Opening a account is no no problem. Once funded trading shares is easy. Platform is simple to use. The ability to interact with our investors is a great asset. Best part - their fees
A much needed broker
I have been with Selfwealth for some time. Their prices have been very good competitive. Keep up the good work. That said, their social platform can do with a bit more work. However, my primary interest was good pricing.
Questions & Answers
I transferred 1000 dollars into my SelfWealth account yesterday and its still not there. Is there a waiting period until it comes through?
Can I still trade on my commonsec account for the shares that I trandfered to self wealth account?
When purchasing debt securities are the securities inscribed in my registry’s account or held in selfwealth’s account at the registry e.g Link, computershare
I am not exactly sure I know what 'debt securities' are but all the shares and etfs I've bought with Selfwealth have all been held by Link or Computershares, etc. as I have received certificates from them.
Get an answer from our members and SelfWealth representatives
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