Join Australia's most dynamic and respected property investment community
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  1. Excalibur1

    Excalibur1 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    327
    Location:
    Sydney
    Perthguy and Nodrog like this.
  2. Excalibur1

    Excalibur1 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    327
    Location:
    Sydney
    Nobody using them?
     
  3. Douvy

    Douvy New Member

    Joined:
    1st Mar, 2017
    Posts:
    1
    Location:
    Melbourne
    Yes - I am with them.

    Simple and effective platform for domestic trading. You are right, cash is held in ANZ cash management account so you even make a little interest on cash not invested in stock holdings.

    If you are using international trades and / or derivatives you will want a secondary broker but for domestic trades they are highly recommended. The research portal and community aspect are good value additions too.

    Yes
     
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  4. Redwing

    Redwing Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,005
    Location:
    WA
    How are things going with Selfwealth, I've seen a few referrals for them of late?
     
  5. PKFFW

    PKFFW Well-Known Member

    Joined:
    15th Mar, 2018
    Posts:
    161
    Location:
    NSW
    I can't compare them to any other broker as I've not used any other. My experience has been great. Sign up was a breeze and quick and the few trades I've made have all been executed without problem. I don't use all the social media/community type stuff.
     
  6. ChrisP73

    ChrisP73 Well-Known Member

    Joined:
    5th Oct, 2018
    Posts:
    218
    Location:
    Brisbane
    Signed up to the website (havn't completed the registration for trading yet) on the weekend but stuffed up the referral link. Put in a support ticket asking them to correct the referral for me so I (and my referee) get the 5 free trades but they've denied it, instead offering me 2 free trades. I was stunned. Not that I need the free trades - but nice way to alienate a potential new customer..... Am I being unreasonable?
     
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  7. PKFFW

    PKFFW Well-Known Member

    Joined:
    15th Mar, 2018
    Posts:
    161
    Location:
    NSW
    I don't think you are being unreasonable. Frankly if they were going to offer the referral trades anyway then they are not really losing anything by fixing your mistake for you and it would engender goodwill.

    I completely forgot about the referral (AussieFireBug) to get 5 free trades when I signed up. I considered contacting them but for the $47.50 it would have saved me I just didn't bother. Seems I saved myself some wasted time if your experience is the norm.
     
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  8. Redwing

    Redwing Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,005
    Location:
    WA
    Podcast from Aussie Firebug here

    Our guest today is Andrew Ward, the founder and managing director of online investing tool Self Wealth. Andrew is a former Executive Manager at Commonwealth Bank who has held many other high positions throughout his 20 years in the finance sector. Andrew seen an opportunity in the market for an online community for investors, but after failing to get through the red tape that comes with working in a large organisation, decided to start up his own company.

    In this episode, we talk about:

    • What is Self Wealth and what does it offer
    • $9.50 flat fee brokerage costs!
    • The catalyst for the idea of Self Wealth
    • Pricing models
    • What CHESS sponsored and HIN means and why it’s so important
    • Integration with Sharesight
     
  9. Alex Straker

    Alex Straker Financial Life Coach Business Plus Member

    Joined:
    30th Oct, 2015
    Posts:
    455
    Location:
    Gold Coast, Australia
    Anyone know what kind of reporting do they offer, do they provide a full, consolidated tax statement for the account holdings at the EOFY?
     
  10. symposia

    symposia Member

    Joined:
    14th May, 2018
    Posts:
    8
    Location:
    Concordia
    There is an annual statement for tracking changes to your portfolio but it is lacking dividend/distribution detail. You can extract a report detailing the transactions on your SW cash account i.e. trades, brokerage and (purportedly) dividends - however as my dividends are either reinvested or directed to an external account, they don't show up here. Not exactly useful.

    As a result I use Sharesight to generate a consolidated report, then use share registries to confirm their reports. Easy enough with the few holdings I've got.