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Cheap but you get what you pay for
Whilst they are cheap and I have appreciated that but there are a few prospective issues that people should be comfortable with.
* Customer service is limited and generic, I have tried to reach out a few times with a response of either do not reach out via this medium (even though they monitor and reply to comments in it) or they send through a copy-paste response (I assume to get through as many complaints as possible).
* For a new platform, it feels pretty dated, this opinion is subjective but having used a few others I would say this is one ...
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.
Cheap brokerage but disappointing experience so far
$9.50 fixed price trades are the reason I changed from Commsec to SelfWealth. I had 32 different holdings to transfer and was led to believe from the SW website that I could transfer all of them under the existing HIN. Sounds simple right? Wrong. I was informed by SW that they had already allocated a new HIN to my account so I would have to transfer each holding ( 32 of them ) individually. Changing the HIN also meant that my portfolios disappeared from the various registers (Automic/Boardroom/Computershare/Link ). The response from Boardroom ...to my enquiries stated that SelfWealth should be doing all this but when I again approached SW I was told to sort it out myself! My other disappointment is that my portfolio update is about 30 minutes behind the ASX, whereas Commsec was immediate. Hopefully once all this transfer process is complete it will be smooth sailing at $9.50 per trade, but so far it appears that you get what you pay for.
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
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
Opening an account took 7 weeks and escalating through dispute resolution
Support crew can be unresponsive for days to weeks. When they do respond, instead of answering the question they simply directed me back to their help page on the website which did not have what I was looking for. Their support gave me incorrect instructions on how to open my account on the first instance which lead to delays as I had to correct and resubmit paperwork.
I found the support to be more helpful through the online chat.
At every stage of the process, if they said the next stage would take 48 hours, or 3-5 days, it would inevitably...take 2 weeks or more. When I wrote to support via email, they responded by simply copying the same message that there are delays with no further explanation or expected timelines. The account was only resolved when I threatened to escalate the complaint to the Australian Financial Complaints Authority. Having now finally managed to open an account, I am now very skeptical whether I should continue to keep my business with them.
Novice investor here. Easy to use and better value for money than the banks. The customer service is excellent. Money lands in account quickly. Transparent and smooth process, efficient portal for trading. CHESS sponsored is a big plus.
This is wonderful - I watch my shares on it everyday on my phone. Would highly recommend it and the trading fee is good. Definitely great app to have on your phone.
both us and aus trades at 9.50
Aus onboarding very easy us tricky with wben forms but works well given the formal requirements. Support was good promotes self reliance. Easy to use and understand. Valuation reports are good.
Best brokerage in Australia
The best and cheapest brokerage in Australia for ASX and US stocks. it's no calculation just flat fee of $9.5. No need to pay $19.95 per trade as with other brokerage.
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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