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.
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 The majorly outdated app (Android) in comparison to a app such as Spaceship,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.
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...
Good for SMSF
Easy to use app and platform and cheaper than other brokers. I do like the the look of it and I find it easy enough to look for historical trades. I gave them a 4 coz I would really like to see broader access to other company shares ie at least some more popular international shares. They probably could use more functions but I'm pretty happy with it.
Definitely a great platform to trade shares, especially when it's cheapest in market for each trade ($9.50). Referring friends will also get you free trades (although it sucks having to use it up within a certain period).
The UI isn't the most modern, however it's still simple to use and does the job.
The only flaw with SelfWealth is the fact that money transfers take time to get in. It'd be awesome if you could get funds loaded into your account instantly. Nevertheless, it could work out in your favour if share prices drop further by the time your funds are added to your trading account.
Can't beat flat rate trades, but there's more to consider.
So I've been trying to invest while COVID is happening and they are okay in general but you have to think about other issues.
1: So $9.50 flat rate per trade is their main draw card. That's fantasic. But I think that's all that goes with them.
1. It takes a good 1 week (or even more) to setup the trading account.
2. Live support is only via chat from 10am to 4pm, no phone calls. On a good day, you'll be answered in a few mintues. On a technical meltdown day - wait for at least 30 minutes for a chat person to answer you, and they ca...
You get what you pay for
I've been using SelfWealth for a around a month now, after transferring from a Big Four bank brokerage. For a small beginner portfolio such as mine (~$10K) the low trading fees are a godsend, as i found the trading fees at my previous brokerage firm quickly ate into my small profits.
My issues with the service are echos of complaints from other reviewers: there is a lag on live share price changes, so I depend on the live updates from my other brokerage account when setting my bid price.
Secondly, the currently available analytical tools are a...
Great platform, great trade price
Pro's: Great, easy to understand, cheap trades, has an app
Con's: only ASX stocks (but I think international coming soon?), format could be more user friendly/basic
I don't like big banks so this was my choice to support an independent provider
Very good for those who do their own analysis
SelfWealth provides a no-frills approach to share trading and does this very well. The very low cost of trades makes it cost effective for the smaller operator and I have found the information sufficient for most of what I want to achieve. The stock information is sufficient to get you started/interested, but for deeper analysis, there are other programs that are much more comprehensive. I find the individual stock charts very simplistic and, certainly on a phone or tablet, so small as to be almost useless. To me, that is SelfWealth's gr...eatest weakness at the moment. However, there are other programs that you can easily get all of that information anyway. So, let's get back to SelfWealth's primary focus. To provide cost effective share and stock buy and sells. From that point of view, I am completely happy with the service that I have received so far. I cannot see me changing to another online broker in the forseeable future.
Need better tools for traders
Trading is all good, brokerage is low. One thing that the site really needs are better stock screeners and filters, e.g. min monthly performance data on members, holdings, with such volatile markets is not good enough... It's especially important for active traders. I have to constantly switch between different providers to get the data I need. Please upgrade report options and search tools. Also - just an idea - can we get some kind of signals of stock prices on mobile?
My brokerage fees have dropped 80% since moving to SelfWealth
I love the software and the ease of making a trade . Things I dislike are market depth is delayed and I wish they could download all my trades in the same way as Comsec does it as It would make tax accounting much easier. I have told them about it but no action. I have made over 100 trades and am satisfied.
Pretty good! Solid platform all around
This app is well made for those who intend to begin investing without the big fees normally charged and complicated jargon involved. However they could include more base membership features.
Easy Trading Account
I only started 18 months ago and I have enjoyed being a SW Member.
The website is easy, reply to a question came within 5 minutes of starting the chat.
I enjoy the information that I can get on my shares/future shares.
Sofar I have only bought but I have faith that my future sales and transfers from SW account to my bank account will be without any hassle.
For $9.50 per transaction you can’t go wrong.
One advice, always have enough money in your trading account so that instant purchases can be made.
Signed up 2 weeks ago and still stalled progress
It's been over two weeks since I signed up. No response on email follow ups. I have shopped around for other brokers and it took within the week to fully get up and running, so there is really no excuse.
Finally got signed up. It took me having to go to their live chat and follow it up twice on different days.
Orders get filled quickly which is good
I intraday trade and the site isn't like proper trading brokers that have efficient platforms. eg. You cant turn off trade confirmations. You can't put a stop loss and an exit all on t...
Well yes and no
Yeah I agree cheap and easy brokerage. Sign up was a pain and took longer than other providers. Excuse was due to the current market they had heaps of people joining. Not good enough. Anyway allowed me to do exactly what I wanted to do and I am happy with the cheap brokerage. What I am not happy with is don't expect to speak with anyone if you have a question. I have tried numerous time with still no answer to to questions I wanted. I ended up working it out myself but forget about communication. I guess you pay for what you get. If you want cheap brokerage with no other benefits then 100% yes can't go wrong but if you want more you might have to look elsewhere but you will pay for it.
Once set up easy to use
Differently one of the cheapest platforms per trade only $9.50.
You do have to wait a few days for your money to be transferred which can be annoying, so plan ahead to have extra funds sitting there.
Excellent Value; good way to start
The trading rates are very good value. Upon sign-up we were offered free 90-days of premium membership which enables us to see other example portfolios and their performance. We probably would not renew this membership (and pay for it) but it was useful for a couple of newbies with no mentors. First trade went through seamlessly, and confirmation emails, payment and contracts followed through without a hitch. We are looking forward to further using the platform. There does not seem to be a reporting facility, the helpdesk says that a summa...ry is provided for EOFY reporting. Oh, the helpdesk are great by the way, just leave yourself enough time for two-day replies (and manage expectations accordingly). Also, you need to have money sitting in the account - transfer it 1-2 days before you need it - BPAY is the quickest way (and no upper limit).
Initial hiccup in setting up account but was subsequently sorted
I was searching for various trading platforms and then shortlisted this platform because of positive reviews on productreview.com. But self wealth has not really lived up to the expectation so far. Their account set-up process is very time consuming. I have provided all the certified documents that they requested and still there is no progress. I wanted to pick up some bargains in current bear market but I do not think I will benefit much because of delay from Self Wealth. I think I will wait for another day or so and then open an account somewhere else.
After writing this review, I got immediate attention and the process of setting up my account was expedited. The platform seems easy to use and I am still exploring.
Transferring Funds in - too slow in this technical age!
The cheap flat-rate brokerage and direct holding in CHESS is definately a big plus.
However, I initiated a bank transfer on Friday morning, and it's yet to appear in my SelfWealth account Monday lunchtime Sydney time.
This delay is not an attractive feature for a regular share trader.
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