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Poor Customer Service
Generally found this platform useful, but when we encountered a problem they weren't helpful. Will be changing brokers.
When I setup my account, I completed a form with my nominated bank account for withdrawals. Selfwealth incorrectly entered those bank details in their platform (two digits were reversed in a 9 digit account number). This led to my funds being sent to an incorrect account. Despite this error being caused by their data entry, they were unable to return the funds and have instead resorted to a recall request and included the fol...lowing statement: "A Recall can take up to 30 Business Days to be completed. As the beneficiary bank may need to obtain written approval from the beneficiary, please note that there is no guarantee that the funds will be returned." This is completely unacceptable and despite several attempts at contacting their support to encourage a refund, they have declined. Thought others ought to know - please make sure you check the bank details that Selfwealth create in their software.
A real winner
Joined a couple weeks ago and am pretty impressed with email support with how prompt and professional they are. Great to see a burger roadmap so everyone can see what is planned. App is a little buggy but that is what updates are for. I’ve read reviews here about the exceptional rating of the previous app so maybe some functionality of that version could renew user confidence.
The best platform you could want
I am so happy with my decision to switch from Commsec to Selfwealth. 9.95 trade, Osko is now available and they included live pricing. Why pay more in brokerage fees when Selfwealth have it all ? Absolutely love it here!
Super easy to trade
Super easy to trade and cheap brokerage fee. However, app is delayed so I use Commsec to view market changes and better graph details. I wish the app would give you notifications to your phone about filling your order so I don’t have to go into the app manually and check myself. Would rather phone notifications rather than all those emails.
Also takes 1 business day to transfer money into account which is super annoying. This is my first time trading and super happy with going with SelfWealth after a lot of research into other brokers.
Unprofessional Company To Deal With
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.
New side menu takes up a lot of space for cosmetic reasons rather than functional reasons.
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)
Better than paying my broker a large fee per trade !
This is a Great platform, it was easy to set up but took a while for funds to be accessible . Once cleared was easy to start trading , looking forward to faster cleared deposits.
Great platform. Only qualm is it took a long time for funds to be deposited into trading account
Great platform. Easy to trade. Great analysis and research provided. I will be telling my stockbuddies about selfwealth. Only qualm is it took a long time for funds to be deposited into trading account
Easy to use and understand for beginners
Very Easy to use and understand specifically for beginners like me. Easy to track your money and all the stats help. 5 free trades on first go helps a lot
Website does not allow to place limit orders away from the current market price
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.
Terrible new app
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
Complicated, not user friendly, not recommended
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!
Response to reviews
I'd like to commend SelfWealth and particularly Jarrod P for addressing comments made in reviews on here. In many of the reviews a person from SelfWealth actually makes a comment, either to thank the person who made the review or to offer assistance if a person has had a negative experience. I think it says a lot about the culture of SelfWealth that they take reviews seriously and read them. By contrast, none of the reviews for ANZ Share Investing are commented on by anyone from ANZ Share Investing. That also says a lot about their culture. Well done SelfWealth. By way of disclosure I use SelfWealth and, to a lesser extent, ANZ Share Investing.
Brilliant so far
Quick and easy sign up process took only 1 day to be approved for an individual account. Did not transfer stock after reading its easier to transfer after the account is open.
Trading is very simple wish they had live data on all pages which they say will come very soon
beats paying $30 with commsuc! love the fixed pricing structure
support seems ok via email
Terrible customer service and terrible service
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.
Questions & Answers
Do you now have live pricing?
Yes Mick they now have live pricing and instant transfers.
How to do first trade
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.
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.
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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