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SelfWealth
3.9 from 492 reviews · View Statistics
See the Best Forex & Share Trading Platforms in 2021 as rated by Australians on ProductReview.com.au.
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Reviews

  • Transparency
    2.4 (53)
  • Rates and Fees
    3.1 (9)
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when will Australia get a decent broker SFW doesn't make the grade

published

no customer service--- plenty of funds but a/c says insuffient funds when I try to place an order
previous experiences are send an email and wait 4 weeks where you get an unresolved response reply to that email and wait another 2- 4 weeks and hope something positive happens
Please don't waste your time or money

Incentivised Review No
Darren2028
Darren2028Metropolitan Adelaide, SA
  • 4 reviews
  • 1 like

You get what you pay for

published

Like a lot of things in life, this app is fine when things are fine. When you have an issue or there is something you want to do that the app doesn't allow (which is many things) then your frustrations will start.
The support is what you'd expect for $9 trades. Next to zero. The app and web interface is clunky. You will need other charting tools to function. If you are starting multiple accounts, make sure you get it right the first time as it's very difficult to make changes or get someone who has a clue to help.

Transparency
3/5
Rates and Fees
4/5
Incentivised Review No
Z Rob
Z RobHobart
  • 6 reviews
  • 2 likes

Poor Customer Service

published
Transparency
2/5
Rates and Fees
4/5
Incentivised Review No
Kim H.
Kim H.Sydney, NSW
  • 2 reviews

Open an account - Quite Confusing

published
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Hi Kim. First off, thanks for joining! This isn't the standard experience on SelfWealth at all, I'm sorry it hasn't been as smooth as we'd hope for. Can you get in touch at marketing@selfwealth.com.au and I can help you out?

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John
JohnSydney, NSW
  • Verified

Unprofessional Company To Deal With

published

I requested a change of my details by email 2 weeks ago and not 1 reply to confirm they received my request.

I had to log on to their chat this morning and lo and behold I was advised they need to call me to verify.

Why not respond with this information 2 weeks ago. BTW Im still waiting for their phone call.

So UNPROFESSIONAL would not recommend this company to anyone.

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Hi John, normally we're super fast with this stuff but there has been a massive migration of backend systems with a provider which has slowed things down. We'd normally process this within a few days, so apologies for the delay, not normal at all.

Jenny from the block
Jenny from the block
  • 5 reviews
  • 1 like

New side menu takes up a lot of space for cosmetic reasons rather than functional reasons.

published

The site is less functional and requires more clicking to get to where you want now than it did before.
Which tends to extend to the site itself, style over substance as the saying goes.
If there were an alternative at the same brokerage, 100% would abandon instantly as the site is more interested in cosmetics and gamification than being a serious trading platform with user experience and functionality at the forefront (those things users actually want being some ways down the list of priority)

Transparency
1/5
Rates and Fees
3/5
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Hi Jenny, thanks for your honest review. We're in the midst of a lot of changes to the UI, so I'll pass this on to the team. Thanks for being a member, hopefully we'll get the next few updates right!

Pankaj K.
Pankaj K.South East Queensland, QLD

Website does not allow to place limit orders away from the current market price

published

e.g. CCE current MP $0.003, tried to place the sell order @$0.006. The order failed. Reason: Limit price too away from the CP. Even for orders Good until 01/02/2022. Depth shows orders lined up till sell price $1.00.

Transparency
3/5
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

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Next

Terrible new app

published

Self Wealth - I was really happy with your old app. Traded fast, easy to use and navigate. The new app is clunky, overloaded with too much info per page, freezes when trying to trade, you can't see market depth on order page so can't keep up with movement while placing order. I used to trade almost exclusively on my app, now I don't even want to open it. You need to revert to old app or there will be a mass exodus

Transparency
5/5
Rates and Fees
5/5
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth
Skald
Skald

Thanks Self Wealth for replying and listening to your customers. I'll keep an eye on updates.

Complicated, not user friendly, not recommended

published

The new app is complicated with useless info and it’s rather an min web than an app. My stock commu group are moving out this app. Useless and terrible UI &UX.
Have to say the old app is the best and the new app is a suicide action of SWF!

Incentivised Review No
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perdox
perdoxGreater Melbourne (Metropolitan), VIC
  • 2 reviews
  • 1 like

Cash transfers still in dark ages

published
Transparency
5/5
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Thanks for the review Perdox. We're working on this now and will have quicker payments in the coming months -- keep your eyes out!

perdox
perdox

Looking forward to it. I intend to move all my holdings to SW when this is in place.

perdox
perdox

Not User Friendly

published

Very average app, especially for the samsung side, constistent error page. Been trying to trade for weeks, application set up takes long, and even longer to get it approved by team

Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Hi Katherine. The app is new, so we're keen to hear of any issues. Can you email your errors to support@selfwealth.com.au please?

Doug
DougPerth, WA
  • 2 reviews

Good so Far

published
Rates and Fees
3/5
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Thanks for the review, Doug! Great to hear you're enjoying the platform, we aim to keep it simple. So we can improve, how would we get from 3 stars to 5 stars? Any feedback is useful!

Forex & Share Trading Platforms

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Lem
LemSouth East Queensland, QLD
  • 3 reviews
  • 1 like

Terrible customer service and terrible service

published

wanted to transfer my shares from my previous platform to self-wealth and and been over a month and account still not active or working. Big mistake to have chosen them over others coz of the price they offer.

Transparency
1/5
Rates and Fees
3/5
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Hi Lem, sorry to hear you've had a bad experience, this is far from what we set ourselves: transfers usually only take a few days. Are you able to get in touch via marketing@selfwealth.com.au and I can check it out for you?

Rob
RobGreater Melbourne (Metropolitan), VIC
  • 3 reviews
  • 1 like

Dont use Selfwealth - No support - costly mistakes - wont respond - you have been warned!!

published

9.50 trades sounds cheap, however I have spent over 4 weeks chasing up a transfer and an error (they transferred the wrong shares to someone elses account). I must have emailed them 20 times in the last four weeks (including the online chat). They have not accepted the mistake, they have not apologised for the mistake, they have not fixed the mistake, they have not even told me they are going to fix the mistake. This has cost me thousands in trades and when it goes into next fin year - it will probably cause a CGT event and ill have to pay heaps of tax for their mistake. this 'cheap broker' has cost me thousands and I cant resolve it!

Transparency
1/5
Incentivised Review No
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 Review No
Page 1 of 5

Questions & Answers

Mick
Mickasked

Do you now have live pricing?

1 answer
Shaun F.
Shaun F.

Yes Mick they now have live pricing and instant transfers.

Martina K.
Martina K.asked

How to do first trade

No answers
Frustrated and angry.com
Frustrated and angry.comasked

I need to transfer money out of my SelfWealth trading account to buy some priority offer shares.
I cannot find a way to do this and I am in a bit of a rush.
Alternatively I thought that I could withdraw from their ANZ account into my linked account, but am unable to find a way to do this either. Please could someone help. The bot is useless and emails take so long for answers.

4 answers
neil and kaye j.
neil and kaye j.

I haven't tried this myself yet. I've only transferred money into my SW cash account from my Commsec account, however I just went to Settings -> Trading Account -> Cash account and there is a blue button called "Withdraw from AUD" which looks like you can transfer from your AUD cash account to your nominated other account.

Hi there, I have just been on CHAT with selfWealth and I do not have this blue withdraw button, I have tried numerous times. Thanks for trying t help though.

John
John

You should be able to withdraw monies from your cash account to your nominated inked account in SW.
I did this last week without any issues

Just dont' try and change your linked account details as this was a painful and long winded experience.

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