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SelfWealth

SelfWealth (page 4 of 8)

3.9 from 521 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
    4.1 (92)
  • Rates and Fees
    4.5 (33)
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Reviewer Photos & Videos

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OK, But

published

Takes too long to fund your account. Responding to RFIs is very slow. I also applied for a SelfWealth USA trading account. Have no clue how to access the US trading platform and no information has been forthcoming.

SelfWealth
Jarrod P.SelfWealth

Thanks for your review and for joining, Annemarie! US trading is only available on the desktop site for the moment, it will be available via the app come the start of Feb for iOS and a little later for Android. A brand new app has been built.

Hendrik
HendrikGreater Melbourne (Outer), VIC
  • 4 reviews
  • 1 like

Not bad but not great either.

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I find it difficult to follow and find other member info just to see what they buy. I would like to customize the portfolio columns so will be nice if you can move them around. I am most intrerested in the daily percentage gain or loss and the total gain so would like to have those next to each other.

Also no phone support. I find typing slow and annoying.

Neale
NealeSydney, NSW
  • 2 reviews
  • 1 like

Simple to use app and reasonable cost per share trade

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I have found that using the SelfWealth share trading platform supplemented and cross referenced with other readily available sources of share trading information on the Internet to be sufficient to allow me to make informed and profitable trades and track my shareholding. I have used the stock analysis research feature to guide the decisions I have made regarding share purchases...with great success. I have recommended SelfWealth to friends.

Greg K
Greg KHobart, TAS

Its not bad but its not great either.

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I switched from superhero which is another cheaper less featured broker. I have found SelfWealth to be adequate but a lot of the features they hide behind the subscription i can access the data elsewhere for free.

One particularly annoying aspect of SelfWealth is how long it takes to fund your account - despite there being a maximum of 60 seconds between my money leaving my bank account and hitting my Selfwealth trading account which is held on anz bank, it can take in excess of 24 hours until the funds are available to use. Coming from superhero it was at the most an hour.

I have yet to need to use support so i can not comment there.
I have yet to fund my US trading account so can not comment there.

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Rob C.
Rob C.Sydney, NSW

Excellent execution. Account opening very poor

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I have been trying to open an account and transfer stock for several weeks. I have had no help nor answers to my queries. I feel like I am in limbo with no where to go for help. As a former broker I understand the issues which need to be dealt with. It is also impossible to get in touch with the management.

dkl
dklGreater Melbourne (Outer), VIC
  • 4 reviews
  • 3 likes

Not great

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Been a selfwealth user for a while whilst still maintaining the majority of my portfolios with Commsec.
SW is ok but there is a $20pm membership fee. For USA trading I don't see the stocks on their app which is not good but still looking into this issue.
Share transfers take ages.
Research is limited.
USA trading does not offer market call trading which I don't like.
And yes, there's nobody to talk to which doesn't help when there's a problem.
Not sure if I will persevere with them - maybe for just a few stocks....

SelfWealth
Jarrod P.SelfWealth
Gaz P.
Gaz P.Richmond-Tweed, NSW

Disappearing units

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Hi. I transferred 4000 ORA units 19th June 2020. 4 days later 800 units disappeared. I have attempted chat and email a week ago but sadly no response.
The response to my negative review was answered promptly and satisfactorily - it was explained that there was a consolidation. Pity this was not noted on the website as this would not have been a problem to start with.

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SelfWealth
Jarrod P.SelfWealth

Hi Gaz, thanks for being a member. It's best to track the company's ASX announcements for structural changes in the stock or you can always talk to the share registry to get more information on company changes like this.

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Adrianne
AdrianneWheatbelt, WA
  • 2 reviews

Stop Loss Features Could be Better

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I really like the features and trade costs but I find not having the comprehensive conditional order options, like the major platforms do, somewhat limiting went wanting to buy and sell.

tasmedic
tasmedicNorth-West & West coast, TAS
  • 6 reviews
  • 2 likes

Excellent value but a bit lacking in features

published
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Jay
JayGreater Melbourne (Inner), VIC

good friendly interface...

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good friendly interface, makes it easy to use for beginner trades like me.
$9.50 per trade is a decent price too.
Can only trade is Aus for the moment but US is coming soon
use my sign up link //https://t.co/WC7qqIoyp $9.50aud for your first
5 trades free.

Cheap

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Cheap trades is nice but the interface is pretty useless and the app really doesn't offer much. It's good to use Selfwealth along with other apps that have more information that you need. I only use Selfwealth for trades, any information gathering I get is from other services.

Angus
AngusGreater Melbourne (Inner), VIC

Cheap brokerage is the only reason to use.

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Brokerage fee is competitive for the Australian market. However, you get what you pay for as the app is disappointing. Graphs are useless, stock info is lacking, and there bare bones evaluation on your positions. Have to calculate your portfolios P/L manually. I recommend this platform as nothing more than a means to buy into the Australian market, it is no good at anything but that.

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CMC
CMCSydney, NSW

Very good

published

The service is very good. As a beginner it came highly recommended. I would recommend it to others, both starting out and experienced.
A couple of small things, is the delay in transferring money into your Selfwealth account. I've seen this issue addressed before on Reddit etc. But anything more than a couple of hours delay is less than ideal. It usually takes a couple of days.

Another change would be in the app, to be able to change what the homescreen shows. Rather a profit/loss for that day, have the ability to change it to profit/loss overall.

Wow , Wealth of Wisdom , Make Me More Money

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I feel more secure using SelfWealth, the stock I bought is on my name , less fee , I only use the mobile phone so far is wonderful, good apps, hope will be better in the near future .

David J.
David J.Southwest, VIC

Easy, Simple and affective!

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Great customer service and easy to use, what be great to have a chat room for members to discuss topics, advice etc Otherwise highly recommend to other users looking to start off in the stock market

saint1
saint1Northeast, VIC

Best value for money Broker

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At $9.5 per trade fabulous value. Easy to use . Over an investment lifetime, the savings in brokerage are enormous and will significantly add to your wealth through compounding especially as your portfolio grows and your trades are larger.

SelfWealth
Jarrod P.SelfWealth

Thanks for the review!

Slee
SleeSydney, NSW

Market data not available from time to time for a few days

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This is very frustrating because I trade a large amount and 1 or 2% means a lot of money. If a stock drops or jumps 20% I want to buy or sell and I cannot do that. Luckily my stocks have not jumped but this could happen on any day. Very frustrating. Because today a few of them have gone up and still climbing and I am missing those.

SelfWealth
Jarrod P.SelfWealth

NOT HAPPY

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SelfWealth
Jarrod P.SelfWealth
  • Verified

It does the job

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Rather simple platform to use with affordable and unambiguous fees.
My only gripes with the platform is:

1. The majorly outdated app (Android) in comparison to a app such as Spaceship,

2. The app will not work on a rooted phone. In terms of security it sounds like a wise choice, however given that I don't have another app that has this detection, it's arguable as to whether it's really necessary (it's the users choice, a warning should be provided instead), and

3. The way the website ranks your wealth and security status against other members, instilling a feeling of fear in the unaware that you should be doing better.
In reality, investments don't do that from day to day. We're not the dying age of day traders after all.

SelfWealth
Jarrod P.SelfWealth
Justin
Justin
SelfWealth
Jarrod P.SelfWealth

Appreciate the feedback Justin!

mwon27
mwon27
  • 2 reviews

Good platform

published

Set up easy is super easy. The app is very handy. The buy sell functions easy to use. Can view other members high performing shares. Can have suggestions on under valued or over valued shares except eft always nil data. Great to import to sharesight account. Only Con include support to real person only during business hrs via online chat. Nil ipo purchase.
If you want to get started can get a friend to refer U to get 5free trades or you can use my referral link and both you and I can get 5 free trades. Brokerage fee v low compared to comsec.
Referral link cut and paste into browser.
[weblink removed]

rs
rs
  • 3 reviews
  • 3 likes
  • Verified

Good trading platform

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SelfWealth
Jarrod P.SelfWealth

Thanks for the review RS! Most of what you've got on the list will be worked on over the coming six months, after we launch US trading in November. Other bits and pieces in there have been passed on to the tech team for discussion.

Newly signed up! Smooth process, just wish app was better

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SelfWealth
Jarrod P.SelfWealth

Thanks for your review Matthew! New app is on its way, due in a few months time.

Johnny
JohnnyAdelaide
  • 7 reviews
  • 3 likes

Good cheap on line platform

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Self Wealth is an easy to use on line trading platform. Its cheap and has no frills but still has quite good information. Sometimes it appears that the information is not updated in real time but if you click on the share it does.

Bad Customer Service and Complicated Online Portal

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Hello,

I do understand this is one of the cheap online brokerage firms. However, if you are looking for good customer service and an easy online portal then you will not find here. Also, the staff has an attitude problem.

SelfWealth
Jarrod P.SelfWealth

Hi Jeet, thanks for joining. We're disappointed your experience wasn't up to scratch, we proud ourselves on our customer service. Can you email us at marketing@selfwealth.com.au so we can rectify this for you please?

Baz
BazSydney, NSW

Good on price and execution, but love to see more relaxations

published
SelfWealth
Jarrod P.SelfWealth
Baz
Baz

Thanks Jarrod Looking forward to it

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