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SelfWealth
3.9 from 514 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
    3.5 (18)
  • Rates and Fees
    3.8 (4)
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HIA
HIASydney, NSW
  • 7 reviews
  • 6 likes

Bad support & poor non-transparent Fx - will move elsewhere for US stock

published

I'd say OK for ASX, but terrible for US (Fx rates).

I was looking for single platform for both ASX & US, but now decided to move out for US market.
It appeared the amount I lost due to Fx conversion is much higher than trade cost one can save. They deducted more than 0.6 bps spread even before I started any trade for US and then support folks kept repeatedly sending copy paste links of pages from somewhere without even bothering to look at specific transaction. I guess this is how Low-cost companies work - so no complain. Just 'buyer be aware'! Don't expect support to explain any transaction details, even if it appears dodgy.

Transparency
1/5
Rates and Fees
4/5
Incentivised Review No

Balance of security vs services

published

Service and rates are very good, however for smsf registration the documentation and compliance is excess for existing members. It was far too long an ordeal to add a second trading account to comply with my smsf.

Transparency
3/5
Rates and Fees
4/5
Incentivised Review No
David
DavidGreater Melbourne (Outer), VIC

End of Year Tax Statements

published

Have been using SW for a few months now and happy with platform and fees. But may have a major problem in that eSuperfund requires a hard copy (PDF) of the Settlement Account Statement for my SMSF tax return. Seems like SW don’t provide this facility.
Also the breakdown details of the Cash Acct is weird. Recently sold some COH shares- rather than being a single line item there are 11 individual entries, from 1 to 33 shares. All adds up but certainly will be creating a huge amount of work for tax docs.

Incentivised Review No
Darren2028
Darren2028Metropolitan Adelaide, SA
  • 4 reviews
  • 1 like

You get what you pay for

published

Like a lot of things in life, this app is fine when things are fine. When you have an issue or there is something you want to do that the app doesn't allow (which is many things) then your frustrations will start.
The support is what you'd expect for $9 trades. Next to zero. The app and web interface is clunky. You will need other charting tools to function. If you are starting multiple accounts, make sure you get it right the first time as it's very difficult to make changes or get someone who has a clue to help.

Transparency
3/5
Rates and Fees
4/5
Incentivised Review No
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Kim H.
Kim H.Sydney, NSW
  • 2 reviews
  • 1 like

Open an account - Quite Confusing

published
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Hi Kim. First off, thanks for joining! This isn't the standard experience on SelfWealth at all, I'm sorry it hasn't been as smooth as we'd hope for. Can you get in touch at marketing@selfwealth.com.au and I can help you out?

perdox
perdoxGreater Melbourne (Metropolitan), VIC
  • 2 reviews
  • 1 like

Cash transfers still in dark ages

published
Transparency
5/5
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Thanks for the review Perdox. We're working on this now and will have quicker payments in the coming months -- keep your eyes out!

perdox
perdox

Looking forward to it. I intend to move all my holdings to SW when this is in place.

perdox
perdox

Not User Friendly

published

Very average app, especially for the samsung side, constistent error page. Been trying to trade for weeks, application set up takes long, and even longer to get it approved by team

Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Hi Katherine. The app is new, so we're keen to hear of any issues. Can you email your errors to support@selfwealth.com.au please?

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Doug
DougPerth, WA
  • 2 reviews

Good so Far

published
Rates and Fees
3/5
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Thanks for the review, Doug! Great to hear you're enjoying the platform, we aim to keep it simple. So we can improve, how would we get from 3 stars to 5 stars? Any feedback is useful!

Adele D.
Adele D.Sydney, NSW

Looks good but takes forever to get verified and start trading - Poor customer service

published

I created an account so I can trade on American stocks easily. Low fees and the platform looks really good. However the process of creating an account takes 10x longer than you think. Very rigorous. Customer service is available through daytime hours but they are little help.
Long story short, if you plan on using self wealth to trade stocks, you should start your sign up process today and you might be able to trade stocks in 2022

Incentivised Review No
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Petr
PetrDarling Downs, QLD

Still waiting

published

Sent a simple email enquiry 18 days ago and received an automated acknowledgement stating: "Resolving your query is a top priority for us, and we will be working hard to ensure we get back to you with a personal response as quickly as possible".

I am still waiting for a response.

Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Hi Petr, we respond to emails within a business day typically, so that's far from normal. It'd be best to chat to the team on live chat via selfwealth.com.au, they'll be able to look into it straight away for you.

Jonathan
Jonathan
  • 4 reviews
  • 3 likes

Good but could be better

published

Its a great platform however, transferring money takes excessive times, last time I transferred money it took 4 days instead of the 3 they stated as they don't use Osko and the free trades they give you have such a short expiry, the free trades should have a longer expiry date. Other than that its an alright platform.

Transparency
4/5
Incentivised Review No

Good brokerage, but a very limited app and too slow to get funds into trading account

published
Transparency
4/5
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth
Forex & Share Trading Platforms

Find out how SelfWealth compares to other Forex & Share Trading Platforms

Know better, choose better.

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Darren E.
Darren E.Metropolitan Adelaide, SA

Can be better but OK

published

Need to have up to date pricing. I use commsec to get instant prices to decide when to buy using your platform. Other than that the pricing for trades makes it cheaper to use. Also should be automatic transfer of funds between portfolios between the same user, not send money back to my bank account then into my other portfolio.

Transparency
3/5
Incentivised Review No
CJM
CJMMelbourne
  • 2 reviews

ok, but improving

published

I like the fact you can now invest in US stocks like Tesla. The only issue I have with it is that buy ins are a minimum of $500. if buys ins were lower I would own more stocks. But the stocks are listed in your own name so if the company goes bust. you own the stocks. peace of mind.

Transparency
5/5
Incentivised Review No
SelfWealth
Jarrod P.SelfWealth

Thanks for the review CJM! The ASX imposes that $500 minimum but it's for ASX stocks only, and only on the first time you buy that stock. Once you own a stock, you can buy smaller amounts. There's a $100 minimum for US stocks.

CJM
CJM

Oh, I did not know that. that's good to hear. There are some US stocks I want to invest in. Thanks.

DeltaH
DeltaHCentral coast
  • 2 reviews
  • 2 likes

no phone access

published

live chat is ok but when i want a clear, concise immediate conversation, live chat is insufficient.
I appreciate the need for fast effective communication, esp. when i'm investing thousand of dollars

Transparency
3/5
Incentivised Review No
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Questions & Answers

pnkamat2005
pnkamat2005asked

What are your broker to broker share transfer fees for moving the account OUT to other broker?

1 answer
Muhamed
Muhamed

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.

Jennifer H.
Jennifer H.asked

Can I buy the exchange-traded Government Bond here?

No answers
Mick
Mickasked

Do you now have live pricing?

1 answer
Shaun F.
Shaun F.

Yes Mick they now have live pricing and instant transfers.

See all SelfWealth questions

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