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SelfWealth

SelfWealth (page 4 of 7)

3.9 from 534 reviews · View Statistics
See the Best Forex & Share Trading Platforms in 2022 as rated by Australians on ProductReview.com.au.
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Reviews

  • Transparency
    4.3 (85)
  • Rates and Fees
    4.5 (33)
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David J.
David J.Southwest, VIC

Easy, Simple and affective!

published

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

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saint1
saint1Northeast, VIC

Best value for money Broker

published

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.

SelfWealth
Jarrod P.SelfWealth

Thanks for the review!

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Slee
SleeSydney, NSW

Market data not available from time to time for a few days

published

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.

SelfWealth
Jarrod P.SelfWealth
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  • Verified

It does the job

published

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 The majorly outdated app (Android) in comparison to a app such as Spaceship,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.

SelfWealth
Jarrod P.SelfWealth
Justin
Justin
SelfWealth
Jarrod P.SelfWealth

Appreciate the feedback Justin!

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mwon27
mwon27
  • 2 reviews

Good platform

published

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.
[weblink removed]

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rs
rs
  • 3 reviews
  • 3 likes
  • Verified

Good trading platform

published
SelfWealth
Jarrod P.SelfWealth

Thanks for the review RS! Most of what you've got on the list will be worked on over the coming six months, after we launch US trading in November. Other bits and pieces in there have been passed on to the tech team for discussion.

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Newly signed up! Smooth process, just wish app was better

published
SelfWealth
Jarrod P.SelfWealth

Thanks for your review Matthew! New app is on its way, due in a few months time.

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Johnny
JohnnyAdelaide
  • 7 reviews
  • 3 likes

Good cheap on line platform

published

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.

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Baz
BazSydney, NSW

Good on price and execution, but love to see more relaxations

published
SelfWealth
Jarrod P.SelfWealth
Baz
Baz

Thanks Jarrod Looking forward to it

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Good for SMSF

published

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.

SelfWealth
Jarrod P.SelfWealth

Thanks for your review! We're adding US trading in the coming months so hopefully you can upgrade it to a 5 star soon.

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Reviewer
ReviewerAustralia
  • 65 reviews
  • 41 likes

Great platform

published

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.

SelfWealth
Jarrod P.SelfWealth

Thanks for the review! We've got a long list of improvements to work through that customers have provided, which we will get set on after we launch US trading shortly.

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Dean
DeanMelbourne
  • 9 reviews
  • 8 likes

Can't beat flat rate trades, but there's more to consider.

published
SelfWealth
Jarrod P.SelfWealth
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Average Man
Average ManGreater Melbourne (Metropolitan), VIC
  • Verified

You get what you pay for

published
SelfWealth
Jarrod P.SelfWealth

Thanks for joining and for the review! Just to correct the statement from an old forum post, live pricing is available to all for free but only on certain pages: stock analysis and the order page. It's not live on the portfolio page or elsewhere.

Average Man
Average Man

Ahh, you're right. I retract that comment.

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Great platform, great trade price

published

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

SelfWealth
Jarrod P.SelfWealth

Thanks for the review! Yes, you're right, US trading coming later in the year.

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stayzon
stayzonAU
  • 3 reviews
  • 2 likes

Very good for those who do their own analysis

published
SelfWealth
Jarrod P.SelfWealth

Thanks for joining and for the review! We're working on a new app for phones and tablet which will improve usability and charting. We'll ensure we incorporate your feedback into its development. Happy to have you on board!

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Peter
PeterSouth East Queensland, QLD

Need better tools for traders

published

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?

SelfWealth
Jarrod P.SelfWealth

Thanks for the feedback Peter, we're working on a new mobile app now so will incorporate your feedback!

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Nick S.
Nick S.Metropolitan Adelaide, SA

My brokerage fees have dropped 80% since moving to SelfWealth

published

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.

SelfWealth
Jarrod P.SelfWealth

Great to hear you're saving money with us Nick, that's our aim!

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Pretty good! Solid platform all around

published

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.

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LiaP
LiaP
  • 2 reviews

Easy Trading Account

published

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.

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Andrew
AndrewGreater Melbourne (Metropolitan), VIC
  • 2 reviews
  • Verified

Signed up 2 weeks ago and still stalled progress

published
SelfWealth
Jarrod P.SelfWealth

Hi Andrew, sorry that the process took so long and you ended up going with another broker. Not ideal for anyone of course and not normal for us at all, In normal times we are usually very prompt.

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mrpatto
mrpattoSydney
  • 19 reviews
  • 17 likes

Well yes and no

published

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.

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Mandy
MandyGreater Melbourne (Metropolitan), VIC

Once set up easy to use

published

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.

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Char
CharHobart, TAS

Excellent Value; good way to start

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Sumeet
SumeetSydney, NSW

Initial hiccup in setting up account but was subsequently sorted

published

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.

Update:

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.

SelfWealth
Jarrod P.SelfWealth
Sumeet
Sumeet

Hi Jarrod. Do you then recommend me to wait or open an account on some other platform?

SelfWealth
Jarrod P.SelfWealth

I've sent you a private message so I can get more details on your account and look into it for you.

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Merrilee
MerrileePerth, WA
  • 3 reviews
  • 6 likes

Transferring Funds in - too slow in this technical age!

published

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.

SelfWealth
Jarrod P.SelfWealth

Hi Merrilee, there was an issue this morning with receiving files from ANZ (they didn't provide them correctly) and it will be resolved today. Otherwise, it would have normally been in this morning.

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