Selfwealth is an award-winning Australian owned and operated share trading broker, offering easy access to the Australian, Hong Kong and US share markets from a single account. It allows you to buy and sell shares for a flat $9.50 fee with no hidden charges.
- Standard brokerage fee
- Available markets
- ASX, NASDAQ, NYSE, Hong Kong Stock Exchange
- Email, Live chat
Selfwealth is an award-winning low-cost online broker focused on Australian, Hong Kong and US shares, with the broker also planning on expanding into crypto soon.
It's the type of broker that will largely appeal to buy-and-hold investors, especially those who are looking to invest larger amounts due to its flat fee structure.
While its basic account is more tailored towards seasoned investors, beginners will be able to use its premium account for 90 days, which should help with the transition into investing thanks to features such as being able to copy successful traders.
The company also offers a range of data to help investors, including buy and sell recommendations and financial comparisons.
On the downside, Selfwealth is limited in the countries it allows you to trade and the options it provides.
Cheap, flat-fee brokerage
ASX, HKEX and US shares
Cannot trade in all countries
Limited types of trading
|Type of broker|
Exchange traded funds
Hong Kong Stock Exchange
Established in 2012, Selfwealth is an Australian owned and operated company which is most known for its flat fee structure on Australian, US and Hong Kong shares.
Selfwealth is trying to position itself in the market as more than just a share broker. It's also aiming to become a one-stop, online investment community. It offers a suite of online tools that helps to compare the performance of your investment portfolio with other investors of similar size.
What are the key features of Selfwealth share trading?
Through the Selfwealth share trading platform, traders are able to access a number of features that make their experience unique. Compare some of these key features against other share trading platforms and weigh up which aspects are most meaningful to you.
|SelfWealth charges brokerage of $9.50 for ASX stocks and US$9.50 for US stocks.|
|It offers conditional orders as well as charting tools and watchlists.|
|Research and education||
|Selfwealth offers a number of research and analysis features including news, stock ratings and earnings reports.|
|Selfwealth offers stocks and ETFs from Australia, Hong Kong and the US. It does not offer any margin products.|
|It offers email and live chat support services.|
|It offers shares from Australia and the US.|
Cheap, flat-fee brokerage costs
Selfwealth is known for its flat-fee brokerage service. All Australian and US share market trades are just $9.50 per trade, regardless of trade size. This means that the type of trader you are or the size of your account won't change your trading costs. There are also no extra commissions. When it comes to trading costs, you always know where you stand with Selfwealth.
Access community insights and benchmarking tools with Selfwealth Premium
Members of Selfwealth Premium can set up a target portfolio using the strategies of top investors. Members can also watch or follow portfolios of other members in the Selfwealth community. This is done anonymously with no personal member details shown but instead monitors the performance of their portfolios. Members can watch as many other members as they want.
Free access to Selfwealth Premium for 90 days
When you create your free Selfwealth share trading account, you'll be able to try out all of the features offered with Selfwealth Premium for the first 90 days for free. If you then decide that you'd like to keep using Selfwealth Premium, you can continue for $29 per month.
Access free market data, insights and research
If you choose to trade Australian shares with Selfwealth, you'll find that stock performance and unit prices are updated every 20 minutes using ASX price data. Members can also access specific, detailed market-sensitive and general company information on individual shares via the stock analysis tool that is powered by Thomson Reuters.
Funds held by ANZ
All client funds are held in ANZ bank accounts. This means when you sign up for a trading account with Selfwealth, you'll also automatically receive a cash account with ANZ to settle your trades through. That means in the event of insolvency on the part of Selfwealth, your funds will be safe as they are part of a closed trust at ANZ.
Australian CHESS-sponsored shares are shares that are registered with a share broker like Selfwealth. They're given a Holder Identification Number (HIN) by the broker. On the other hand, Issuer Sponsored Shares are managed by the issuer of those shares via the issuer's share registry. All Australian shares bought through Selfwealth are CHESS-sponsored shares and are executed and settled by OpenMarkets. Shares are legally and beneficially owned by the investor and not held under custody.
No minimum account balance or Selfwealth trade volume requirements
There is no minimum account balance required when opening a Selfwealth share trading account, nor is there an ongoing balance requirement that needs to be maintained. You are also not required to place a certain number of trades each month to avoid an account inactivity fee. Just keep in mind that trades on the ASX must be more than $500 in value in order to go through.
Flexible order types
Investors and traders can place an order to buy shares at a particular price and allocate a "good until end date" setting to the order. This allows you to set and forget, as the trade will only be placed when the market hits your target buy price. This means there's no need to check the price daily for shares you want to buy and takes some of the stress away from trying to get filled at a price that is right for your particular strategy.
What markets can I trade with a Selfwealth share trading account?
Selfwealth provides complete access to the Australian Securities Exchange (ASX), offering investors and traders access to the following:
- Australian shares. These are shares traded on the ASX and are called "ordinary shares" by Selfwealth.
- US shares. Shares listed in the United States are available to trade on Selfwealth.
- Australian-listed property shares. Investors have access to property assets through Australian real estate investment trusts (A-REITs).
- Australian-listed investment company shares. LICs provide traders access to a range of underlying shares listed on the ASX in a single trade.
- Australian-listed debt securities. This is a fixed income security, allowing investors to receive a fixed return, usually at a specific rate of interest.
- Australian exchange traded funds. Similar to LICs, ETFs track the performance of a number of different stocks that investors can access via a single trade.
When it comes to trading international shares, Selfwealth says it will be supported sometime in the future. If this is a priority of yours, then use our guide to compare international share trading accounts.
What account types are available through Selfwealth share trading?
There are a number of account types to choose between. Take a look below and decide which is best suited to you and what you're trying to achieve from trading.
- Individual account
- Joint account
- Company account
- Trust account
- Self managed superannuation fund (SMSF) account
What types of customer support are available with a Selfwealth share trading account?
If you're looking for account or trading support from Selfwealth, then there are a number of avenues that you can take:
- Live chat support
- Email support
- Postal support
There is no phone support available, but there is a postal address listed on Selfwealth's "contact us" page – an interesting medium for an online share trading broker.
What are the fees I can expect when using a Selfwealth share trading account?
One of the key features spoken about at the top of this review is the fact that Selfwealth offers flat-fee, cheap brokerage costs of just $9.50 per trade, no matter the size.
- Brokerage fees. Pay $9.50 per trade for ASX stocks and US$9.50 for US stocks, with no size restrictions. This fee is the same for a trade worth $500 and a trade worth $50,000 on both Australian and US shares. There are no trading commissions or ongoing account fees that need to be monitored. If you trade Hong Kong shares you will pay a flat fee of $88 per share and a $50 FX transfer fee on $1,000.
- Selfwealth Premium. Access to the SelfWealth community, where you can mirror the strategies of top investors, is only available via a premium subscription. The first 90 days are free, then a $29 monthly fee applies to access this content. Alternatively, you can pay $240 for an annual subscription.
How do I pay for shares on a Selfwealth share trading account?
Paying for shares through a Selfwealth share trading account is simple. Just keep in mind that as per standard ASX processes, it takes up to 2 business days for funds to be settled and available to be withdrawn from your cash account.
- Cash account. When you sign up for a trading account with Selfwealth, you'll also automatically receive a cash account with ANZ in order to settle your trades. This account is accessible within your account and funds can be easily transferred in and out from there.
- Dividend payments. You must nominate an account for dividends to be paid into via the share registry after each new holding that you've purchased.
All funds are held in a Selfwealth trust account, within an ANZ bank account. In accordance with regulatory requirements, Selfwealth is not entitled to withdraw any amount from your cash balance in the trust account, except in accordance with a direction from you.
Selfwealth kids account
For those looking to set up an account for minors, Selfwealth offers children access to their own trading account.
An adult can open a share trading account and name a minor as the beneficiary. The account will function just like any other, but when the child turns 18, the shares held in the trustees name will be transferred from the minor to the now adult.
Remember that there are tax implications when it comes to investing for kids. To read more, click here.
How do I apply for a Selfwealth share trading account?
- Step 1. Begin your application online by providing your email address and clicking the activation link.
- Step 2. Provide your personal details including name, address and date of birth. You'll then need to select the account you want. You can sign up for an individual, joint, trust, company or SMSF account.
- Step 3. This process includes a Veda security check so 100 points of identification are required. Suitable forms of ID include your driver's licence, passport, photo ID card, bank statement and/or utility bill.
- Step 4. When your trading account is approved, your ANZ cash account is automatically created. You can now start buying shares.
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- Your answer might already be waiting – check previous questions below to see if yours has already been asked
February 26, 2020
Can I trade commodities with the self wealth app?
February 27, 2020
Thank you for contacting Finder.
Currently, with the SelfWealth App you may only trade stocks/ shares available in the Australian share market. You may not trade commodities using this platform.
I hope this helps.
October 28, 2019
is there a fee involved in transferring my existing shares with my current broker to selfWealth ?
October 30, 2019
Thanks for your comment and I hope you are well.
No, there are no fees involved in transferring your existing shares to Self Wealth. To proceed, you’ll need to complete a broker to broker transfer form. They are available on the Self Wealth platform. Click the trading account menu option on the bottom left-documents-the forms tab to access all forms.
Hope this helps!
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October 14, 2019
Am I able to transfer my shares from Commsec to my account once it is open?
October 15, 2019
Thank you for getting in touch with Finder.
If you consider transferring shares from Commsec to SelfWealth, yes that is possible. Please note that transfers take 1-2 business days.
I hope this helps.
Thank you and have a wonderful day!
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August 12, 2019
Hi, lets say at a point of transfer of 50k funds from my account are now held in a SelfWealth trust account and they go into liquidation ;
1. are my funds 100% safe to return in their entirety ?
2. how would I go about getting all the funds back?
3. how long would this process generally take?
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August 16, 2019
Thanks for getting in touch! If SelfWealth were to go into liquidation, your funds would still be safe as they are part of a closed trust at ANZ. Liquidators won’t be able to access your funds. If this were to happen, it would be a simple matter of contacting ANZ and organizing for your funds to be transferred into your personal account. While I can’t give you exact details on how simple or fast this would be – it shouldn’t be any more complicated than any other bank transfer.
Hope this helps. Feel free to reach out to us again for further assistance.
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July 08, 2019
Just have a question regarding risks.
1. If you were to invest 300k in one company and if those shares were stable and Self Wealth was to go bankrupt. What would happen to your shares ?
2. Also was the 250K backed by the government in reference talking only in regards to the Anz account you will have to create to deposit funds ?
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July 12, 2019
Thank you for visiting Finder.
SelfWealth registers shares using CHESS. That means if SelfWealth were to go bankrupt your shares remain safely stored and you could take your HIN and holdings and transfer them to another broker.
The Australian Government has guaranteed deposits of up to $250,000 in all major banks and registered deposit-taking institutions (ADIs). You can read more about the Australian Government Guarantee Scheme. However yes, only the money deposited into a bank’s cash account is protected. Once funds are transferred into a trading account or used to purchase shares, the funds are no longer afforded the government guarantee. In addition, in the event of insolvency on the part of SelfWealth, your funds will be safe as they are part of a closed trust at ANZ. Liquidators won’t be able to access your funds.
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