Self Wealth Investment Account
What services do SelfWealth offer?
SelfWealth only offers one type of investment account to trades which allows you to buy Australian or US shares. To create an account, you fill out an application on the website for either yourself, a joint account, Self Managed Super Fund (SMSF), trust, company or business. SelfWealth then sets you up with a personalised trading account and cash management account to get you started trading.
What trading fees do SelfWealth charge?
At the time of writing, SelfWealth charges a flat rate fee regardless of your trade size.
For Australian Shares:
$5,001 to 50,001 trade – $9.50
Application fees – free
Stock transfer fees – free
Off market transfer fee – $27.50
For US Shares:
$5,001 to 50,001 trade – $9.50
Inactivity fees – free
FX Spread – 0.60%
What products can I invest in using SelfWealth?
At the time of writing, SelfWealth allows customers to invest in:
- Australian shares
- Australian ETFs
- Australian Listed Property shares
- Australian Listed Debt securities
- Australian Listed Investment Company Shares
- US ETFs
- US Shares
- US Notes
- American Depository Receipts (ADRs)
Is the market data provided by SelfWealth dynamic, real-time, or delayed?
SelfWealth provides live performance of the market against your portfolio and allows you to set a target portfolio to compare against. This is easily accessible via the app and allows for portfolio optimisation.
What reporting tools are offered by SelfWealth?
The reporting allows you to get more detail of each share or ETF performance with a full portfolio table, showing profit and loss, current price and other data points.
They utilise reporting from Refinitiv which allows you to compare annual financial figures from companies, access a price forecast, view the most popular stocks of the day, and find new investment opportunities using their stock screener.
SelfWealth also provide diagnostic tools like:
- Your SafetyRating – The SafetyRating tracks the diversification of your portfolio and that of other members. Diversification is a way to spread your risk across different companies, industries and even geographies. Improve this score by diversifying your portfolio.
- Your WealthCheck Score – Your WealthCheck Score is a combination of your SafetyRating, your performance over different periods and the under- or over- valuation of your portfolio, according to Refintiv analysts’ evaluation.
How is SelfWealth secured?
SelfWealth allows you to enable two-factor authentication (2FA) on your account and use a 2FA app to add a second layer of protection on access to your account. Automatic and manual systems are automatically enabled on your account to prevent unauthorised access.
Your Australian trades are CHESS sponsored, meaning you own the shares in your name directly, SelfWealth does not hold them on your behalf.
Related article: The Cheapest Share Trading Platforms in Australia
Does SelfWealth have a mobile app you can trade from?
Yes, SelfWealth offers a mobile app to traders to track the US market during trading hours and get an update every morning. The app allows you to track all US and ASX orders in on alocation and allows you to place orders outside of market hours.
Does SelfWealth have customer support services available?
SelfWealth has a live online chat feature where you can contact them about ASX shares Monday to Friday from 10am to 4pm Sydney time. For US Stocks, you can contact them online from 11pm to 6 am Monday to Saturday Sydney time. They do not provide phone support but they do have an email address which they aim to respond to in one business day.
SelfWealth is based in Surrey Hills, Melbourne and is an online-only business. They set out to make the stock market more accessible to Australians, by introducing Australia’s first flat-fee share trading platform.
Compare Online Share Trading Accounts with Canstar
If you’re comparing online share trading companies, the comparison table below displays some of the companies available on Canstar’s database with links to providers’ websites. The information displayed is based on an average of six trades per month. Please note the table is sorted by Star Rating (highest to lowest), followed by provider name (alphabetical). Use Canstar’s Online Share Trading comparison selector to view a wider range of online share trading companies. Canstar may earn a fee for referrals.