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SelfWealth

SelfWealth is an online broker that charges $9.50 flat fee to buy or sell Australian shares. It has been voted Australia’s cheapest online broker 2 years in a row from Money Magazine.

  • All trades via SelfWealth are executed, cleared and settled by OpenMarkets.
  • All shares are CHESS sponsored, you are the full legal and beneficial owner of the shares.
  • Only ever pay $9.50 per trade – no commissions, regardless of trade size.

Get 5 free trades when you open a SelfWealth account by using this link.

Likes:

  • $9.50 per trade
  • Easy to use and navigate
  • 90 day free trial of Premium service

Dislikes:

  • Live updates of share prices are delayed
  • Premium membership required for in-depth and live information
  • Cannot trade international shares as yet

I opened up a SelfWealth account over a month ago, with no prior experience with share trading and found it very easy to use and navigate. When you open an account with SelfWealth, a cash account with ANZ is also opened for you so you can transfer your money to buy and sell shares. Transfers of money usually takes 1 business day.

When you sell a share, the money is immediately available in your account to use which was a surprise. Normally when you sell a share it takes a couple of days before the money is transferred into your account. This is the case with NABTrade. I opened a NABtrade a couple of weeks earlier to SelfWealth.

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