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The platform is OK if you only want one share trade account. If you want more than one account, say for family members or your SMSF then Self Wealth only permits one named account per email address, so no other accounts can be opened under the same email address. Only option is to open multiple accounts in the same name which can make if difficult at tax time, or have multiple email addresses - not worth the complication.
Just look for your long period of success regarding SP@ present chart.
Been with them for more than 24 mths after [Name Removed] listing.
[Name Removed] left.
New management is stuffing it Big Time. Hence the SP and financials. Not suitable for trading in penny stocks in speculative stocks. They enforce a 50% margin on stocks which may raise 60-120%/day.
Excusing themselves by ASX rule. Even if the market depth is up to 200-300% and SFL pulls your stock off the market even if your time of expiry is in 2 mths times.
So you have to sit on the computer 10.00-16.00 hrs to monitor the inability of the platform and the management.
No way to sort it with a live chat when the "trainee " personnel is employed.
"Seniors" will answer your query after a 2days delay !!!
Wanna this kind of service ??
Great until you go to sell
Tried to sell at a peak moment with plenty of buyers and my order wasn't being put to market so lost quite a bit and didn't sell. Very concerned now as this should have been a very easy sell.
Great fees poor app/website
Chose to use sealthwealth due to lower fees and having your own CHESS no. However all I do is go back and forth to superhero to look at shares. The app/website is not user friendly and very confusing - I had to access the help centre to figure out how to transfer money to my account. Please make your app more user friendly, in the mean time I think ill stick with superhero.
I am new to investing and SelfWealth has been very easy to use. It is great that you can access US trading as well. The website/mobile site has good functionality and as a new investor it is nice to see what others have in their portfolios for inspiration. I also have liked the free brokerage on ETFs and I hope this promotion continues or other promotions follow.
What I do not like is the functionality of the app, it is clunky and hard to use and does not offer the same experience as the mobile site.
I also think it takes a little too long to transfer in funds sometimes but it could just be because I am a little impatient and I do not have any other brokerage platforms to compare this it, it is only my opinion.
No customer support.
Need to update bank account, but no way to do it online. Waiting a week for customer support to contact me. It's a great app, which I've been recommending to friends. But this is extremely disappointing.
Best platform.. Almost there!
This is one of the best Chess sponsored platforms ever used. Loved all the widgets and access to information for fundamental analysis. Thanks for letting us buy ETFs for free without brokerage although Temporary.
Although there are a few gaps which I would like to address:
1. Cannot set stoploss while buying ASX shares but can set while buying US shares.
2. Cannot select date to order US positions, limited to "day only" transaction.
3. Would really love to see crypto very soon.
App doesn't work, it accepts my sign in but shows nothing else other that the profit/loss for the day. Now the website wont go past a pop-up with no way to 'ok' or exit. Cant access my account to cash out of my stocks.
Sold out of a position, 1x trade only, for x amount. Waited 2 days for clearance only to find 2/3 cleared. Sent email, no reply. The most uncontactable trading platform. Period.
Support never gets back to you
Had issues on sign up, left them a message from their online help, no return email, phone call or anything.
Extremely bad way to start out.
My room mate also had issues, she did the same thing and hasn't heard anything back either, thinking I'll try another platform as this support is non existent.
After many tickets they deliver no support or fix for the matter, just repeating the same stuff that doesn't work. I would suggest finding a new platform for anyone reading this.
PS My room mate never got it sorted either and they just cancelled her ticket....Useless.
Appalling Customer Service
Nice website and app however customer service is online only with a very slow response. I do not recommend if you invest lots of money and need quick assistance. Also big drama in changing my bank account detail so avoid
Found my account closed without notice - told to reapply
What a joke! I had my account that I set up a year ago, closed without notice, then told to re-apply when I enquired as to why the account was closed. Nothing else was said, as to why closed.
Service - non-existent.
Cheaper/better services out there. Just check the stock price and see where SelfWealth is going. It's an appropriatte reflection of the business.
Taking on the banks but not as secure as the banks...
To take on the banks it should be just as secure as the banks imho. With my bank account it sends me an sms code to verify its me that's made any changes to my account such as changing the password or my address details. SelfWealth doesn't do that... if you leave your pc logged in to your trading account whilst you go to the toilet anyone in your house/office/library with physical access to your pc can just change the nominated bank acc, contact email and acc password then withdraw all your funds to their own bank account... Please fix this security flaw asap!
Good and getting better
I like the fixed fee rate of less than $10 per trade. Recent improvements include faster transfers for funds both in and out. The platform is clear and easy to use.
Good price and good service
I got onto SelfWealth for the low rates. In addition the service has been good and they are responsive to questions. Some minor hassles with transfers but overall very good.
Questions & Answers
Will tonite upgrade of your platform include the glitches I have been complaining about for a while or you would just ignore them as you have been doing for the past 2 months?
Why do the tell you you initial stock purchase can be no less than $500 and when you wish to purchase smaller amounts in other stocks they block your purchase and when you finally get someone they tell you that each new stock requires a minimum of $500 this is an AXS stipulation i find this hard to believe when there are other brokers who deal in small sum purchase.
What are your broker to broker share transfer fees for moving the account OUT to other broker?
Unfortunately, I don’t have the answer to that but you can chat to one of their team members directly through their website. I hope that helps.
Get an answer from our members and SelfWealth representatives
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