SelfWealth offers traders access to the Australian share market with just one flat brokerage fee per trade and no commissions.
Established in 2012, SelfWealth is an Australian owned and operated company that provides traders with easy access to the Australian share market via its convenient online platform. In 2016, the company launched its flat brokerage fee solution called SelfWealth TRADING, where investors can trade shares for one flat brokerage fee of $9.50 per trade. This flat fee is the same no matter how large the trade is, and the company does not charge any broker commissions on top.
SelfWealth won Fintech Business of the Year at the 2016 Optus My Business Awards for its easy to use online platform that’s changing the way people trade shares.
What can I trade with SelfWealth?
SelfWealth provides complete access to the Australian Securities Exchange (ASX), offering traders access to:
- Ordinary shares. Most shares traded on the ASX are considered to be ordinary shares.
- 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.
- Australian Listed Debt Securities. This allows traders to invest in a company’s debt or borrowed money.
- Australian Exchange Traded Funds. Similar to LICs, ETFs own a number of different stocks.
Features of SelfWealth Share Trading
Compare the features that SelfWealth offers through its online share trading platform against other platforms in the market, to ensure you find one that best meets your trading needs. SelfWealth features include:
- Market data - Stock performance and unit prices are updated every 20 minutes using ASX price data.
- Research - Members can access information on stocks via the Stock Analysis tool which is powered by Thomson Reuters.
- Access - Access the share trading platform online and via the mobile trading app.
- Available markets. SelfWealth provides access to the ASX only, and does not provide access to overseas stocks.
- Target Portfolio. Members of SelfWealth can set up a Target Portfolio using the strategies of top investors, and can measure its performance.
- Member watch tool. SelfWealth allows members to watch or follow portfolios of other members. 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.
- Self Managed Superannuation Fund. Members can set up a trading account with their self-managed super funds (SMSF).
- Good until date feature. This feature allows members to select a date for execution of their trades. Orders can then be placed before or on the predetermined date during market hours.
- No minimum balance. There is no minimum account balance required when opening a trading account, nor is there an ongoing balance requirement.
- Backed by ANZ. All client monies are held by the Australia and New Zealand Banking Group (ANZ) and are covered by the $250,000 Government Deposit Guarantee.
- Account types. You can set up an individual, joint, company, trust or SMSF account.
What support/information is available with SelfWealth Share Trading?
You can contact SelfWealth for assistance on any questions via email, or instantly via online live chat.
Gain valuable trading tips and information via the community membership option, by watching the portfolios of other traders and accessing market insights from Thomson Reuters. The website also offers industry insights, industry news and market analysis from the Founder and Managing Director, so you can always stay informed.
Fees when using SelfWealth Share Trading
SelfWealth is Australia’s only flat fee brokerage service. It charges a flat fee per trade, no matter the size. The fee is $9.50 and it’s the same for a trade worth $500 and a trade worth $100,000. SelfWealth does not charge any brokerage commission on trades, and it’s free to set up a trading account.
If traders wish to access the community and some of the additional features, they can sign up to SelfWealth Premium. The first 90 days are free, then a $20.00 monthly fee applies in addition to the $9.50 fee per trade.
Pros and cons of using SelfWealth Share Trading
- One flat $9.50 fee for every trade
- Pay no commissions
- No minimum account balance
- Access market analysis, industry news and insights
- Backed by ANZ
- No access to international markets
- Stop Loss not available
How do I apply for SelfWealth Share Trading?
If you feel the SelfWealth share trading platform suits your trading needs, click on the “Go to site” button at the top of this page. You will be securely redirected to the SelfWealth site where you can then apply for an account online in minutes. Please note that you need to be at least 18 years-of-age to apply for an account.
- Begin your application online by providing your email address and clicking the activation link.
- Provide your personal details including name, address, date of birth, and then select the account. You can sign up for an individual, joint, trust, company or SMSF account
- 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.
- When your trading account is approved, your ANZ cash account is automatically created. You can now start trading shares.