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Slow Application Process
Applied on the 2.2.21 and I am still I waiting two weeks to have an account opened. I have tried live chat with only the response of please send us an email which is still not responded to (ticket ID 110566). Poor customer service. I have other trading accounts which did not take this long or were addressed in a timely manner.
Terrible customer service
I have emailed them at least 5 times and messaged them on the online live chat and no one has gotten back to me. It has been over a month since I got in contact asking why there was money taken out of my account, and what it was for, but no one wants to get back to me.
Also the platform is very simple and sucks. You can't even see what you have made on a specific fund it only gives you the total of your whole portfolio performance for the day.
I lodged the Offmarket tranfer form on 12/01/21, until today 09/02/21, the shares have not been transferred , followed up 3 times, always say it on processing, they do not have any phone line to talk someone, you only can wait on live chat, it is awful.
RUN! AS FAST AS FAR AWAY AS YOU CAN
These guys are crooks.
They sold my holdings at below market price.
My stop loss at $1.42 was triggered when the market traded at $1.435
I questioned them about it and they said the market traded at $1.42.
Then I obtained market data from an independent broker which showed the price at it's lowest point was $1.435 until SelfWealth disposed of my holdings at $1.42.
Then they tried to tell you that market traded that low where in fact they are the only ones selling at the new low. ...I showed them the volume data and they turned around and said my holding was traded through CHI-X not ASX. Are you guys aware that these guys will trade your holdings at below market on CHI-X, a different platform? RUN AS FAR AWAY AS POSSIBLE. They will put you at a loss for their cheap brokerage.
The Worst Customer Service - Marketech is a lot better and $5 per trade
Selfwealth customer service is the worst one! I emailed them 3 weeks ago with multiple emails and still haven't heard back from them. I am moving my portfolio over to Marketech. It's a lot cheaper! $5 per trade, with live data, good customer service, have your own HIN, earn interest on the cash sitting in the account, good charts and indicators. You also have your own login details with Macquarie Bank. I could spend up to $2K per month on brokerage fees so moving to Marketech save me half of the fees. Don't waste your time with Selfwealth! Marketech gives 2 free weeks trial so check it out!
Poor customer service. No response to ticket lodged
I had submitted an application for a trade account with self wealth and tried to contact their customer service via email to understand where my application is at. Still no response. No phone number and the only way to contact anyone is via email. Definitely not a best in class customer service turnaround time.
Transferring shares screws up entire site usability
I recently signed up to self wealth a brought my shares across from Commsec. Once the shares arrived i updated the manual data to reflect my account p/l. Their site didn't update any of the metrics. It works off only shares you purchase with them. Furthermore i spoke to 2 people about it. The first Jake was completely unhelpful and couldn't explain exactly how it worked. The second, whose name i forget, refused to escalate the issue and then blocked me from using the chat! I wasn't rude i was just trying to understand why my issue couldn't be r...esolved or escalated. Why would a company use the purchase date to calculate the pnl of a portfolio? It makes zero sense it's simply purchase price against current price. At the very least allow people to change it to reflect their actual portfolios. As i brought over shares from elsewhere the metrics will never be correct so i'm left to track my portfolio manually. I'm so glad i only transferred my small portfolio and not the larger one with my other broker. This is not a broker i would trust anymore. They refused to help or even get a technical consultant involved.
Not happy with the app at all
Really bad layout in app. Does not tell you how much you are up or down in your shares. Not very user friendly. Only good thing is cheap brokerage fee
Slow to process orders
Consistently slow with processing orders. I suffered a massive loss on one stock because it took over 30minutes to go through and im still waiting over 2 months to be compensated or at least receive a response.
Everything on SelfWealth is Slow
After completing the application and being advised that no further details or documents were required, it took SelfWealth an additional 3 weeks to open my account. Transferring money into the cash account also takes significantly longer than the maximum 3 days advertised. I still have thousands of dollars missing from my cash account. If you contact the support email you will receive an automatic reply and never hear back from SelfWealth again.
very hard for sign up
I tried sign up a new SelfWealth account and uploaded a copy of my passport and bank statement as required. However after 4 days, I was told that all the documents have to be certified. All my bank statements are E-statement nowadays. They are in PDF format. I download the PDF file from the bank online banking. How can I get this E-statement certified?
Also due to the current COVID-19 situation, it is very hard from me to get a hard copy of my passport and get the copy being certified by someone.
Actually the documentation requirement polici...es are conflicting with either other. While it requires “Copies of original documents must be certified”, however it accepts uploading of scan image for the document. Does it mean that a scan copy of a certified copy is “certified”? How does it know if scan image is edited/modified before uploading? How does it “certify” the upload procedure? The documentation requirement policies are simply making hard ball to users without adding any security!
SWF makes money on your deposit
My account balance was $18,500 on 01/9/2020. I put orders for shares worth $14990 and cancelled all of them in the morning of 2/9/2020. My account balance after cancellation of orders shows $18500, however Funds Available for Transfer is at $3,510. Self Wealth says funds would be available for transfer after 72 hours. WHY? These guys are making money from our cash deposit.
Great sign-up process, everything else poor
I signed up to SelfWealth for the hope of a better digital experience. The sign-up process was easy and all digital, which I very much appreciated.
However, it appears that most other processes (including share transfers, changing account details, etc.) require you to fill out a paper form, and electronically signed PDFs are not accepted. Since I work from home (thanks COVID-19), don't have a printer, and am not planning on getting one, this is too inconvenient. I believe such paper-based bureaucracy is simply not acceptable anymore, so I requested to close my account, which requires a hand-written form too.
CHEAP brokerage only!
The only reason I am using SelfWealth (SWealth) is because that have the cheapest flat-fee brokerage I can find. That is awesome. But you get what you pay for. Their customer service is hopeless, their record keeping on the platform is lacking. I just bought more KGN shares under their SPP (outside of SWealth) but using my SWealth HIN so they can be added to my account. I now note an increase in my KGN portfolio balance, but no record of the transaction (eg date, etc) is shown anywhere in my SW account. You cannot ring anyone on the phone to di...scuss the matter, only an online chat, which to me is impersonal, time consuming and inefficient. Also, they withhold funds paid into your cash account for an extra day before it is available. Settlement proceeds, cash deposits, etc are not available until the following day. Of course, NO interest is paid on your cash account. If it wasn't for the low flat brokerage, I'd be saying farewell!
Cheap product, cheap service.
-Took 80 days to get my account approved. (delayed more than usual due to corona?)
- They started my 90 day trial when first applied. ie I had 10 days use of their advertised 90 day free premium. They did not rectify; their solution was I just pay the full $240 for the year.
-Couldn't port over my NYSE stocks, they're now stuck in limbo.
-Interface of ANZ and comsec (the only other 2 I've used) far better (and end up cheaper too if you were to buy Selfwealths 'premium' service)
-Price updates are delayed!!! unless you want to pay $240/yea...
Hopeless! Already 2 weeks but account not ready yet
Opened an account 2 weeks ago but still not setup yet. When a complaint is made thakes 3 days for a response. I will try another broker as I am losing trades.
more than a week on new account set up and no response
I opened my account 8 days ago and since then they are still opening ANZ account. I emailed them and a generic response, still no change. I will go for another broker, they just waste your time.
Poor customer service
Have been trying to change my address since two weeks ago with no success. The customer service asked for a printed and non-digital signed form, which I have provided but still no change of address or even a helpful effort to update the address in their system. They keep using my old address even though I don't live there anymore and will never receive any correspondence sent to that address. Still don't understand why they go the extra length to make things difficult for their customer.
Dissatisfied with poor service
Lodged my application on day 1. My family member lodged their’s almost 24hrs later. In less than 2 business days his account was set up. More than 5 business days later I’m still waiting for an account. Emailed to ask what was happening - no response. Expecting someone in marketing will eventually see this and respond with “sorry - covid”, not really a decent answer given my family member got theirs so quickly despite lodging an application later than me.
Poor form. There are other platforms offering the same price for trades. I won’t waste any more time on this poor-form company that offers no real way for you to contact them, and doesn’t even respond.
Do not join and save your time!
Looked through product review and finder looking for a cheap broker. Signed up and seriously regretted it. The sign up process took about 2 weeks I'm guessing because they were busy and also there were issues in transferring shares from another broker. After that I sent emails asking about why the premium trial initiated before my application was complete. The only email I got was that a request was closed and merged into another request. I kept sending emails requesting a response but all I got was more of the same message. After all this time...I finally got a response whilst writing this review saying they would reset my trial. The lack of a phone number to speak to someone is disappointing. The lack of communication is infuriating. Honestly your better off joining a broker that charges a little bit more that actually has customer support and communication.
Cheap but totally unresponsive. No phone number. Takes weeks to get things sorted after several follow up emails. Would be great if they had someone to call as a circuit breaker as their live chat is very ordinary
Poor service. account set-up takes forever
I uploaded all certified docs for 2+ weeks. And I tried to send an email to their customer service email for a week ago. NO RESPONSE. the live chat is rubbish.
Poor customer service, very long setup times
Having been waiting over a week for a simple account setup and now finally been advised that it will likely be another week. Emails for support or the leave a message function on their site only results in being ignored. When I finally got onto someone with the online chat they eventually advised that a copy of ID was required, even though this had never been mentioned anytime prior and everything continually indicated the account would be ready in 1 business day when the ANZ account was active.
Now they are making more excuses about technical issues. If they can't even provide appropriate communication and service to get you to become a customer, how much less service would be provided once you become a customer!
Selfweath Broking "Customer Service"Is A Consistent Farce
I am increasingly regretting with enormous pain giving my business to Selfwealth, since 2017 July. I don't have high expectations from a cheap platform but I do have a right to at least expect the most basic functionality!
1_ Original application in 2017 ignored and or lost by them.
2_It took Selfwealth several years to accept customer feedback that listing broker commission charges on a separate invoice (and not on the contract of sale) was a bad idea, that no other broker in Australia entertained.
3_Chronic problems with Self...
2 days and counting for a simple password reset...
2 days and counting for a simple password reset...
I will not be recommending this platform to anyone else from here on.. Sure they have cheap brokerage, however what's the point of that if you can't even log in...
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