Selfwealth Opiniões 290

I’ve been using SelfWealth for a while, and while the platform does the basics, there are some recurring issues that really impact the user experience.

The main frustration is with inconsistent or delayed data updates. At times, portfolio values and performance metrics display slowly or inaccurately. This makes it difficult to make timely investment decisions.

A specific example is the USD/AUD conversion rate. The FX rate shown in SelfWealth can differ quite a bit from the actual live market rate. SelfWealth support confirmed that the rates come from Phillip Capital (their U.S. broker) and are only updated at limited intervals (morning and afternoon). This means the AUD portfolio value you see is often outdated, which can be misleading—especially for investors managing both AUD and USD portfolios.

To their credit, support acknowledged this issue and said that real-time FX integration is being considered. But until it’s fixed, it creates a lag that competitors don’t have.

Suggested Improvements:

Live FX rates – Integrate real-time exchange rates (even if with a slight delay, e.g. 15 seconds). For international investors, this is critical.

Faster data refresh – Ensure portfolio values and performance metrics update seamlessly, not just a few times a day.

Transparency on data sources – Show the timestamp of the last FX update so users know if they’re looking at a stale number.

Mobile performance – The app sometimes feels sluggish; smoother performance would improve user confidence.

SelfWealth has potential, but these issues make the platform feel outdated compared to global standards. If they can fix the FX and data refresh problem, it would be a much stronger platform for serious investors.

I've had a great experience with Selfwealth over the last 6 years. Simple easy to use platform, and no real delays in support getting back to me. Can't go wrong with the fixed $9.50 flat fees, so I know exactly how much it's going to cost me, makes it easy at tax time!

I went with Selfwealth in the first place because it could feed data directly to my SMSF accountant, offered both Australian and US markets, and Aus shares were CHESS sponsored. But it turned out to be the worst online broker platform that I have ever encountered. Here's what bugged me about it:
1. They require you to have an ANZ cash management account that can only be accessed through the Selfwealth site. They don't pay interest on any cash balances you have.
2. They claim to have low FX fees (0.6%), but they are by no means the lowest.
3. Same deal with brokerage. Compared to some brokers that offer brokerage rates of 0.02%, the $9.50 flat fee is not really good value unless you are buying parcels of shares worth $47,500 or more.
4. The trading platform itself is really clunky.
5. You can't place multiple stop orders on the same holdings, eg you can't place both a take profit and a stop loss order on the same holding.
6. If you have a stop loss placed on a particular stock, you can't buy more of that stock without first cancelling your stop loss order.
7. For US holdings, you can't modify the trigger on a stop loss order outside of US trading hours. You have to first cancel the order, but the cancellation also doesn't take effect until US trading commences.
8. And last, but by no means least, client service is horrendously slow, and sometimes non-existent. For example, when I asked to cancel my premium subscription, I was instead re-subscribed and charged the subscription fee again. My request for a refund took 19 business days to be actioned - nearly a full month. At around day 10, I sent off an email seeking an update, and this email was never responded to.

I wanted to move all my shares to one place but this was not straightforward because of the way they had been purchased. ie issuer-sponsored Selfwealth were very patience and helped me find and complete the relevant transfer requests.

Good website for casual or experienced trading of shares

I find Selfwealth to be an easy to use platform. There is useful data presented clearly and every feature that I've wanted has been there. I've used it for years. Trades are getting a little expensive, but if you refer someone you get free trades. And if you're just buying in bulk occasionally the cost is negligible.

I've hit a couple of miniature admin hurdles but each time someone has resolved it quickly for me.

Would recommend.

Solid platform for the basic functions I'm looking for.

now seeking to be able to invest in European market, being confined to Aussie and USA may require a shift elsewhere before too long

I have enjoyed using SelfWealth, it is a straight forward website and app, easy to navigate, easy to access, secure and reliable. I haven't had any problems using and have been a happy customer for three years now.

I have been using SelfWealth to manage my portfolio for a while now and I find it easy to research stocks, easy to trade and generally good value for money.

Terrible business does not even describe it, tried to change bank account to withdraw money, jumped through countless hoops providing the most ridiculous evidence to prove it was my account. Took a week to get it changed after hours of headaches to finally withdraw my money. No one to call and emails aren’t looked at for days. AVOID

Slowest possible broker in all sort of request (for instance transferring position to another broker takes 10 bussiness days!!!!!!!), and if you want to trade in markets other than AU, US in my case, the conversion rate is thier specific and is absoulte rip off. Highly recommend staying away from them.

I have been chasing up the annual report for my international portfolio with no luck even in September. The customer service said the report will be available by the end of August but when I followed up, they pushed it back to mid September. A well known brokerage platform should have the functionality to generate a report anytime, and generate the annual one as soon as FY ends. The fact that I can't receive mine even in September which is important to lodge tax return is utterly disappointing.

Great broker ! $9.50 for any trade allows you to trade large amounts without the high costs . I previously had Macquarie bank and brokerage cost me over $20,000 per annum . With SWF, $5000 to $10,000 , with more trades . Also efficient execution of trades .

Treat Their Customers Like Rubbish - No Point In Paying Over The Odds!
Their site is very user friendly and pretty good. That's where the story ends. Their so called customer service are uber annoying and will either not respond or give you a ridiculous response. They constantly reject any requested forms and even told me at one point that it wasn't my signature. I decided to move my portfolio to Stake as I was sick of their rubbish customer service and wasn't interested in paying more for trades any longer. They have done everything in their power to thwart and frustrate the process by fabricating faux reasons to delay everything.

I was a BIG supporter of this trading platform when it first started a few years ago. I worked for a sell-side institution myself and supported the platform providing affordable trading to retail investors.

I used it myself for years but the service has dropped immensely in recent months.

When your account gets locked with a renewed W8BEN and you re-submit the form, they take weeks to unblock your account and don't respond to queries on the support email.

The support chat bot is useles. You go around in circles with Windows 95 software on the bot with no help.

Get with the times.

This is an additional review to previous one detailing being locked out and their lack of response to that. On 16 May I sent a form to transfer shares from another broker (I want to use the pathetic few free trades they gave me as compensation for previous experience before I close account as they are so bad). No response. So on 31 May I contact the broker the shares are supposed to be leaving - no they say, we’ve received nothing from Selfwealth, nothing pending. So I send a follow up email to original request of 16 May (still no response to that at time of writing) and resubmit the whole lot again as I new request on 1 June. Again, nothing happens. So 14 June I contact the other broker and again they say “ no, nothing received from Selfwealth requesting a transfer”. But they also say…. “Send it to us”. So I sent it to them and, guess what, less than 24 hours later, the transfer is completed and I get an email from Selfwealth telling me that. But you can bet it wasn’t completed by Selfwealths actions! Selfwealth useless. You will lose money waiting for them to action anything. Proof that you get what you pay for!
14 August- To clarify after Selfwealths response to this review…no I was trying to transfer TO Selfwealth and it was Selfwealth that did nothing to get the shares transferred to themselves.
Overall the point with Selfwealth is it’s fine until you have a problem or want them to do anything. If you have a problem or want them to do anything they are useless.