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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.
Not bad but not great either.
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.
Simple to use app and reasonable cost per share trade
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.
Its not bad but its not great either.
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.
Excellent execution. Account opening very poor
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.
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....
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.
Stop Loss Features Could be Better
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.
Excellent value but a bit lacking in features
Considering this is a free service (unless you upgrade to premium), and that the brokerage is less than 10 dollars per trade, independent of the size of the trade, it's fantastic value for money.
There are some downsides. One is lack of stock analysis. Although you can see your portfolio moving in real time, you can't analyse your holdings other than very superficially. Another issue is funding your account. You'll need to fund it well in advance of any purchases, as you can only move money to (and from) it by using bank transfer. There are so...
good friendly interface...
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 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.
Cheap brokerage is the only reason to use.
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.
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
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 .
Easy, Simple and affective!
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
Best value for money Broker
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.
Market data not available from time to time for a few days
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.
Last week I watched Rob Edgley present on conference and I was impressed. I currently have relatively large trading accounts, both personal and SMSF, with another broker and after watching the presentation I made up my mind to investigate it further. This morning I have already found one major downside, you don’t take phone calls. When My wife and I opened our accounts with our broker we went to their office with all the appropriate documents and they copied and certified them, the process was very simple not like yours. So this morning after f...inding out that you don’t have a phone service I decided to give you another chance and chat on line. So I typed up all this crap and quick as a flash all these comments came up “could not find answer” “ask another question” etc etc. So this time I asked “Are you a robot” and all the same comments came up. I have now decided to buy and sell your shares and the profit will pay for the small brokerage fee I pay with my current full service broker.
It does the job
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.
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.
Good trading platform
SelfWealth is good but need improvements to make it best. It would be great if they add below basic features and refine their app.
1) Conditional orders (Falling Sell, Rising Buy, Falling Buy, Rising Sell, Trailing Buy, Trailing Sell)
2) Stop loss and take profit order on the same stock at the same time
3) Competitive International trading like stake, etoro
4) PayId transfers for instant money transfer
5) Options / Warrants trading
fix below issues
Newly signed up! Smooth process, just wish app was better
I have recently signed up to SelfWeath. This is my evaluation thus far:
1. The process was easy and smooth.
2. Funds took a few days to transfer, worked as expected. A+
3. The iPhone app is a little dated. Call me a superficial millennial but the app UI is very important to me. Also some of the design (not to mention the strange "Guess Who?" board game avatars) feel almost web 1.0. Not the best psychology for a trading platform.
4. I currently hold an account with Stake for US trading but am very excited about the plans for SelfWealth to op...en their own US trading. Stake's Fx rate is 0.7 while SelfWealth will be less at 0.6. However, as my individual orders for US shares hardly ever exceed $5,000 it appears Stake will still provide a more competitive service as they do not charge brokerage (SelfWealth is planning a USD $9.95 brokerage per order). Therefore, for people transferring less than $10,000 the cheaper Fx rate is not offset by the fact that each US trade on SelfWealth will incur a brokerage, whereas Stake does not. The only advantage of moving my Stake trades across to SelfWealth would platform consolidation. I would prefer this as I value accessibility but Stake's fees are far too competitive to justify this. Overall I like SelfWealth and am happy I moved from Commsec! Lower fees for an online-only customer service works well for me! Let's just hope they have plans to update the app.
Good cheap on line platform
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
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.
Good on price and execution, but love to see more relaxations
Still new in the game, Joined the platform and do like it’s cheap rates and execution of trades, give you the courage to take smaller risks with less money, like to see an improved app on phone down the road,
Did get my chess (asx) letters in mail as holder of shares.
What I don’t like is when you put a trade order, I doesn’t not allow to place a second or third and fourth order, unless you have sufficient balance in the Anz account (cdi), in the market not all orders go through, if some go through you could cancel the rest of orders or top t...
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