Excellent platform and so easy to use.
Full of useful features making the journey/experience quite interesting. Highly recommend this platform due to the simplicity, reporting and the relatively low fees. You won't be disappointed.
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.
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.
Great to us trade
Great to have access to us trading..no brokerage on ETFS(temporary) either and overall very low brokerage. Good to have updates and see the successful trades of some others..good to have an alternative to comsec
Easy platform and so informative. One place for trading, info on shares and the market. Made my start in share trading easy and exciting. Learning everyday as information can be found easily. Enjoying the information available on the platform, the forecast graphs and the clear format and set up. An organised information platform.
Good value for money
The best balance between trading costs and platform quality that I could find. The new app still needs some more work but overall it works well most of the time and does what I need it to do.
Safe, Cheap, Works well.
Safe: Cash account is with a bank covered by Government guarantee. Shares are registered with Chess not held in trust by 3rd party.
Cheap: I'm buying ETFs which is currently free. But normal charges are cheap anyway - flat $8 I think.
Works: I use PC & it's a good app - intuitive, fast & no surprises.
I currently get live market depth but I'm not sure if that's only available for new users?
Happy with it, improvement in trading volume
I’m very happy with SelfWealth, v easy to use and informative help desk. Submitted a few ticket request on questions and received response every time
One thing can be improved on is the colour of trading volume which is critical information. Currently it’s showing one colour of trading volume, so unsure if people are selling or buying which is a big indicator.
I had been using yahoo finance for this function to see how the market is going
Cheap trades have had no problems so far
I opened account in my family trust a couple of weeks ago. It was straight forward to open online. Funded my account and had about 10 trades already. All gone smoothly so far. Seems good value.
Easy trading with low Fees- Highly recommend
I've been using Selfwealth for almost 18 months now and never had any issues.
It's gotten heaps better with live pricing, same day & instant deposits. Transactions are executed in real time.
Couple of things could be better:
I'd like for the questions for buying/selling stocks be asked post trade, I want to execute sales/buys without delay- be much more likely to answer then.
There is no 'sell all' button in the trade setting and one needs to type in # of shares to sell.
Portfolio balance still lags 20 minutes albeit live pricing- why?
Smooth east to use
I've been using SelfWealth for 4 months now and it's been nothing a but a positive experience. On the few occasions I've had to get support and it was dealt with professionally within 2 days.
After researching trading platforms, I chose SelfWealth because of the low fees and ease of use. I am completely satisfied with Self Wealth so far. Transfers are fast, the app works really well and the tools are very useful.
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!
Bad support & poor non-transparent Fx - will move elsewhere for US stock
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.
Trade Away at a reasonable price
I have been using SelfWealth for over a month now and have found no issues in that time. The cost is a reasonable as Australian shares get and the service appears to be fine at this stage. I have had no issues, so no need to contact anyone from the company. I moved from another stockbroker when I realised they were a custodian of my shares, meaning the shares were in their name but held on my behalf.
I changed to SelfWealth to make sure the shares I own are in my name. The only downside is a plethora of snail mail from each company I purchase...stocks in. Not a big deal, and at least I have the paperwork to prove my ownership. All in all I'm super happy with the service and the cost so far, the website and app work well and are quite intuitive, although I am good with IT in general, even so, I think most people could navigate without issues.
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
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.