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15 Free Trades ($142.50 Value) When Purchasing $240 Annual Pro Membership @ Selfwealth

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15 Free Trades ($142.50 Value) When Purchasing $240 Annual Pro Membership @ Selfwealth
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morebunnings on 30/05/2020 - 15:00 selfwealth.com.au (481 clicks)
Last edited 30/05/2020 - 19:44 by 1 other user

Pro membership is usually $20 a month, but with this deal you get 15 free trades with your membership, bringing the effective pro cost to $8.13/month.

Note the 15 trades must be used within 12 months.

I find their website/platform is decent, even without pro membership. Their mobile app is a little lacking (its an export of their website), but you cant beat the $9.50 trade price.

Pro membership includes all the standard features plus:

  • View and target other portfolios
  • Advanced stock research
  • Advanced portfolio analysis
  • Unlimited Refinitiv news

Membership should be tax deductible (check with your financial advisor first).

If you are new make sure you use a referral code when you signup - it gives 5 free trades ($47.50 value) & 3 months free pro membership ($60)

Referral Links

Referral: random (499)

Both referrer and referee get 5 free trades for use within 1 month.

Financial Broker Share Trading

Related Stores

SelfWealth
SelfWealth

closed Comments

  • wfdTamar on 30/05/2020 - 15:03
    +2

    Been using them for quite a few years. Apparently there's someone trading $14 million in single trades saving $144,000 each time! I thought I was doing well, but that is a huge saving off the rip off normal brokers.

    I'm not sold on the benefit of Pro. I don't need to know what other people are doing or want to follow them. I pay $20 a quarter for my ANZ Share trading to get instant and better data.

    • morebunnings on 30/05/2020 - 15:05

      Crazy. Any idea if they loose money on those big fish trades & make it up on smaller trades?

      • wfdTamar on 30/05/2020 - 15:08

        If you're trading a large amount each time even a tiny bump in price can be a big earner (conversely it can also be a big loser).

        I also think their referral is stingy as the free trades only last a short time.

      • HeavenlyHammocks on 30/05/2020 - 15:26
        +1

        They'd lose money on giant trades, or their provider would. But they have high trades per month (around 100k), so the average is reliably around $14k. They make money on average.

        wfdTamar: Where did you hear about the $14m trader? Most stocks would not have the liquidity for $14m per trade (he'd drive the price up/down immediately). Just some of the largest ETFs would have enough liquidity.

        • wfdTamar on 30/05/2020 - 17:22
          +1

          Selfwealth mentioned it in one of their newsletter emails a year or two ago. Not sure if they have an archive of them on their site. Maybe its not a single trade, but not many. My memory of the finer details if not spot on, but the money amounts are right. Might have been ETF's. Thats what I do.

        • Reveen on 01/06/2020 - 16:22
          +1

          Alanvale97 is the man that takes the crown, putting a whopping $12m into BetaShare’s Australian High-Interest Cash ETF (ASX:AAA). He’s then bought in and out of others at similar numbers, taking the cake for most of the top trades. Just on that one $12m trade alone, he would have spent over $144,000 on brokerage at Commsec. At SelfWealth? That one trade was a mere $9.50.

          SelfWealth Blog: Biggest trades from 2018 – find out what this investor bought with $12m!

    • Ghost47 on 30/05/2020 - 17:18

      Do you have a source for that?

  • amorn on 30/05/2020 - 15:30

    Hi all. my referral here records 4 clicks. does anyone know how to check & claim missing bonuses within selfwealth account? TA

    • HeavenlyHammocks on 30/05/2020 - 15:32
      +6

      A click does not equal a referral. If the person signs up properly, you get the referral. I have 25 clicks, and ~5 referrals.

      • Daisycogs on 30/05/2020 - 16:28

        how do you check the click records?

        • Ghost47 on 30/05/2020 - 17:19

          My Account > Settings > Referrals.

      • shockme79 on 30/05/2020 - 16:29

        That's right, the person needs to sign up and deposit money into their self wealth cash account for the referral to be valid.

  • HeavenlyHammocks on 30/05/2020 - 15:34
    +1

    It comes out to like $8 per month after the free trades, so I paid for it. It's annoying not know which features and premium and which are free, but I'm still trying out the filtering tool, which is pretty nice.

    • terahammer on 30/05/2020 - 15:39
      +1

      some pages have a "premium" sign which i assume is for premium users only

      for eg. on your dashboard home page -> "refinitiv news" is a premium option

  • abc on 30/05/2020 - 16:07

    So can you keep renewing Pro subscription to get more free trades or it’s a one off for new Pro members?

    • wfdTamar on 30/05/2020 - 17:27

      It'd be just the initial, to entice you.

    • HeavenlyHammocks on 31/05/2020 - 14:05

      They had this promotion last year too, so I'm guessing you could renew with this promotion next year too.

    • Store RepSelfWealth @ SelfWealth on 01/06/2020 - 10:15

      It will auto roll over next year, on the same deal.

      If you cancel it though you can't unsubscribe to the same deal. With that said, this years promo is the same as last years.

      • dpk on 01/06/2020 - 14:28

        Why do you expire the free trades?

  • musai on 30/05/2020 - 16:26
    +4

    use comsec to track SP and trade on selfwealth. saved me a fortune

    • arctan on 30/05/2020 - 17:46

      What is SP?

      • mogwai on 30/05/2020 - 18:09
        +1

        Share price I imagine

  • [Deactivated] on 30/05/2020 - 16:45

    Do you need to deposit funds into your account before you are allowed to trade? I am not comfortable putting a chunk of cash in a platform that, to me, isn’t as safe as a CommSec-linked account.

    • Ghost47 on 30/05/2020 - 17:22
      +2

      The bank account they create for you is an ANZ account (not part of their retail business though). The platform is very safe so your concerns are invalid. In fact Selfwealth was started by Andrew Ward, who used to work for Commbank.

      • wfdTamar on 30/05/2020 - 17:29
        -4

        Where he worked means nothing. In fact having worked for a bank counts against him seeing as they're all thieves.

        • Ghost47 on 30/05/2020 - 19:20
          +1

          Disagree completely.

          The fact that he left the bank as he actually said it was too slow to get anything done and he started a competitor organisation with a flat $9.50 trading fee speaks volumes about how much he actually dislikes the system if anything.

          If anything the experience at the bank allowed him to start up this company successfully as he knew or was connected with people who understood the legalities of setting up a share trading platform.

          • SnakeDoc on 30/05/2020 - 20:01

            @Ghost47: Why would you like to a paid article on ozbargain.. :/

            • Ghost47 on 31/05/2020 - 12:56

              @SnakeDoc: I was able to access it, thought it was free.

              Here you go, does this work?

              Or this?

    • [Deactivated] on 30/05/2020 - 20:02

      Not sure why I got a downvote - I was asking a genuine question. I know IG and IBKR want you to do BPAY or EFT to fund your account before you can trade.

      • wfdTamar on 31/05/2020 - 10:22

        It's a very relevant and important question particularly given last time I checked (a few years ago) they still hadn't made a profit. That may have changed since they went public.

        Their answer, which doesn't help the consumer, is something like that it's an account in your name which is a sub account in their account. They told me it's secure but I wanted that jargon explained in plain english and preferably from the ANZ as given it's the finance industry I wouldn't rust what they say.

        I want to know if Selfwealth happened to fold is all my money safe, or only the first $250,000, or would I just be an unsecured creditor (lose it all).

        Until they explain that adequately, in a manner people can understand, it will hamper their expansion as people will, rightly, be worried.

        • Ghost47 on 31/05/2020 - 13:23

          So you've been trading with them for "quite a few years" yet:

          • You're implying the guy who started the business is some sort of "thief" because he worked at a big bank (incredibly rude and ignorant, if anything the guy should be praised for giving a big f*** you to the banks).
          • You knew "a few years ago" they hadn't made a profit yet you still decided to invest with them.
          • You didn't read their T&Cs to understand your money is held in a trust with ANZ, therefore if they went under you still weren't 100% sure what would happen to your money in your cash account, but you went ahead and put money in their cash management account (to trade) anyway?

          If I felt that way you do about the platform I would not go anywhere near it. It's pretty strange you've attacked the guy who founded the company, complained they haven't been able to answer your queries YET you decide to benefit from their flat trading fee.

          FYI read their investor presentations once in a while.

          • wfdTamar on 31/05/2020 - 13:35

            @Ghost47: I do applaud that he showed brokerage is a rort seeing as it can be done for $9.50. I think the recent inquiry into the industry shows generally this industry has no ethics.

            All I said was his having worked in a bank does not add to his reputation given what was exposed in that inquiry. He may be ok, but the industry is not. Although I do note despite the company making no profit he still saw fit to receive a huge salary (last time I saw it reported).

            I did read the T&C, but could not understand them re this point. I asked them to explain and they can't. So yes, I may be taking a gamble. I am trusting that they are telling me the truth that my money is secure. I'm aware that is mug invester comment number 1 :-)

    • dpk on 01/06/2020 - 14:32

      You can transfer 1 day before you want to buy the shares and then buy the shares if you are not comfortable holding cash for too long.

    • toniyellow on 12/06/2020 - 16:28

      The money in the bank account is covered by the FCS. https://www.apra.gov.au/financial-claims-scheme-0
      The shares are covered by CHESS https://www.selfwealth.com.au/what-is-chess-sponsorship-and-…

      Just as safe.

      As a person on Ozbargain I can't see why people would not use the cheaper platform.
      As a person who indirectly has shares in CBA I guess perhaps I should not discourage people for paying more. Perhaps I need to buy some SWF to even it out.

  • wfdTamar on 30/05/2020 - 17:32
    +1

    You might want to check if there's an expiry date on the included trades if you're not a frequent trader.

  • Richsta on 30/05/2020 - 17:53
    +1

    You get free 3 months pro when signing up.

  • countmein on 30/05/2020 - 18:29
    +1

    Does the pro have visibility of realtime transactions?

    • morebunnings on 30/05/2020 - 19:45
      +1

      Pro & Free show live on the individual stock pages and order pages.

  • Associatedbennybaubles @ SelfWealth on 30/05/2020 - 20:36
    -7

    This is like flies to a Turd. OzBargainers on port goon will love this

    bennybaubles @ SelfWealth on 30/05/2020 - 20:36 (Collapsed - Offtopic. Show)
  • Store RepSelfWealth @ SelfWealth on 01/06/2020 - 10:14
    +2

    Jeez you guys are quick.

  • Joshaldinio on 01/06/2020 - 13:48

    Might be a stupid question but I am currently use NABtrade, will I be charged to transfer my portfolio over to SW?

    • Store RepSelfWealth @ SelfWealth on 01/06/2020 - 19:31

      Not by us, I don't think NAB charge either. I know Commsec does…

      • HeavenlyHammocks on 05/06/2020 - 11:33

        We weren't charged when swapping from Commsec, I believe. We did 2 portfolios ~6+ months ago.

  • Jugg.Judy on 04/06/2020 - 18:56

    is Self Wealth offer option trading or Currency? and when is international going to be online?

    • HeavenlyHammocks on 05/06/2020 - 11:34
      +1

      Offer those: no. International: I'm seen estimates from June to December this year. So probably this year.

  • Tomato on 12/06/2020 - 16:06

    hi just signup this week using referral from here, managed to used 3 of 5 free trades today….money took 2 days to get transferred in, a bit slow as someone has mentioned. Trying to find where my referral code is to add to list, can't seem to find, can anyone here advise? And also is there a community or discussion forum on the app?

    • Magic Mirror on 12/06/2020 - 16:17
      +1

      While you're signed in on SelfWealth website, click "Get Free Tradeds" at the top of the screen to get your referral info.

      I haven't seen forums focused on SelfWealth, but both the Finance section of OzBargain forums (https://www.ozbargain.com.au/forum/38183) and Whirlpool (https://forums.whirlpool.net.au/forum/150) have discussions on it now and then.

      • Tomato on 12/06/2020 - 16:22

        Thanks, seems the referral cannot be located in the app.

    • toniyellow on 12/06/2020 - 16:21

      I find BPAY faster than bank transfer - its always next day, bank transfer more variable.

      • Tomato on 13/06/2020 - 00:30

        I tried both methods at the same time but from 2 different accounts and both arrived on the same day.

  • Slut on 14/06/2020 - 12:45

    Completed my application on Thursday, hopefully it's ready by Monday…

  • Tomato on 15/06/2020 - 21:16

    hi all, would like some advice here. Why do people want to have different portfolios? And if i want to setup a 2nd portfolio, should i just use the same login or can i use my own referral and open another new portfolio with different login. Would i then be able to get the 5 free trades each for the referral¿ any pros and cons to share? thanks!

    • Magic Mirror on 17/06/2020 - 15:12

      I think the 2nd portfolio is always virtual. It's just for people to have a play in a what-if scenario. Have a look at their FAQ (search for 'virtual' on that page): https://www.selfwealth.com.au/faq/

      I doubt you can create another account and use referral to get more free trades, though I've never tried. A better option might be to take advantage of NABTrade promotions with free trades if they come up (doesn't seem very often). Then you can transfer the shares across. Again, I haven't done this myself.

  • Slut on 17/06/2020 - 15:13

    Just did a bank transfer around 12pm yesterday and it was ready by this morning.

    • Tomato on 18/06/2020 - 12:28

      Same here, did a 2nd BPAY yesterday and it came in today. Maybe it just needed more time the first time.

  • machej on 30/06/2020 - 17:10

    This deal expires today if you haven't done it.

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