SelfWealth online share trading review

SelfWealth offers an award-winning online platform with just one flat fee of $9.50 per trade.

Established in 2012, SelfWealth is an Australian owned and operated company that offers easy access to the Australian share market via its convenient online platform. The award-winning platform enables investors to buy and sell 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.

Read on to learn more about the features this platform offers, as well as how to apply online in a few simple steps.

Product Name SelfWealth Share Trading (Basic account)
Type of Broker Online only
ASX Products Shares
Available Markets ASX
Standard brokerage fee for ASX shares $9.50
Support Email
Live chat

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 in a single trade.
  • 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 track the performance of a number of different stocks which investors can access via a single trade.

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:

Free access to Self Wealth premium for 90 days

When you create your free Self Wealth Trading account, you'll be able to access the advanced tools and features offered with Self Wealth Premium for free for the first 90 days. after this time, if you'd like to continue using Self Wealth Premium, it's $20 a month.

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 Self Wealth 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.

Award-winning platform.

SelfWealth Trading won Fintech Business of the Year at the 2016 Optus My Business Awards for its easy-to-use online platform. It was also a Software Innovation award-winner at the 2016 Australian Business awards, and Innovator of the Year Finalist at the 2016 ifa Excellence Awards.

Access free market data, insights and research

Stock performance and unit prices are updated every 20 minutes using ASX price data. Plus, members can access information on stocks via the Stock Analysis tool which is powered by Thomson Reuters.

Mobile app available

Access the share trading platform online and via the mobile trading app, so you can keep an eye on your portfolio and place trades on-the-go.

CHESS sponsored

All shares are CHESS sponsored, and are executed and settled by OpenMarkets. Shares are legally and beneficially owned by the investor and not held under custody.

Set market orders

Investors can place an order for shares at a particular buy price, and allocate a 'good until end date' setting to the order. This allows members to set-and-forget, as the trade will be placed when the shares hit their target buy price. No need to check the price daily for shares you're wanting to buy.

No minimum balance or trade volume

There is no minimum account balance required when opening a trading account, nor is there an ongoing balance requirement. Plus, you aren't required to place a certain number of trades each month. However, trades on the ASX must be more than $500 in value.

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. This means when you sign up for a trading account with SelfWealth, you'll automatically receive a cash account with ANZ also.

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. There is no phone support available.

Fees when using SelfWealth Share Trading

SelfWealth is a flat fee brokerage service. It charges one fee of $9.50 per trade, no matter the size. This fee is 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 Self Wealth Community and some of the additional, advanced trading features, they can sign up to SelfWealth Premium. The first 90 days are free, then a $20 monthly fee applies in addition to the $9.50 fee per trade.

Pros and cons of using SelfWealth Share Trading

Pros

  • One flat $9.50 fee for every trade
  • Pay no commissions
  • No minimum account balance
  • Access free market analysis, industry news and insights
  • Backed by ANZ

Cons

  • No access to international markets
  • Cannot use your existing bank account as the linked cash account

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.

  1. Begin your application online by providing your email address and clicking the activation link.
  2. 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 an SMSF account.
  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.
  4. When your trading account is approved, your ANZ cash account is automatically created. You can now start buying shares.

FAQs about SelfWealth Share Trading

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4 Responses

  1. Default Gravatar
    MichaelAugust 23, 2018

    I would like to open a SMSF trading account. Please advise the process and what documents are required. How long does it take for the account to be approved?
    Secondly, what do I do to transfer the existing share portfolio from my current stock broker to SelfWealth?

    • finder Customer Care
      JoshuaAugust 28, 2018Staff

      Hi Michael,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      If you believe that SelfWealth is the right product for you, please click on the “Go to site” green button above this page to be redirected to their website and open a new account.

      You will learn more about opening a new account and the documents needed by reading the details found under the subheading “How do I apply for SelfWealth Share Trading?” of this page.

      The duration of account approval isn’t clearly mentioned on their website. However, you can hasten your account approval by ensuring your provide all requirements.

      With SelfWealth, it is possible to transfer your existing share portfolio with them. You need to complete a Broker to Broker Transfer form. You can learn more about this when you already have an account with them.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    TillyDecember 17, 2017

    it is impossible to be a day trader on delayed data. why do you not provide live streaming data, please advise

    • Default Gravatar
      ArnoldDecember 22, 2017

      Hi Tilly,

      Thanks for your inquiry

      Please note that you have reached Finder.com.au, a comparison and general information website.

      Updates of trading data are handled by SelfWealth. You can contact SelfWealth for assistance on any questions via email, or instantly via online live chat. Their website also offers industry insights, industry news and market analysis from the Founder and Managing Director, so you can always stay informed.

      Hope this information helps

      Cheers,
      Arnold

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