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.
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.
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.
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.
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
- 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
- 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.
- 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 an 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 buying shares.