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45 questions from our users

S. Mathieson

S. Mathiesonasked

Could you please advise what your brokerage fees are



2 answers
Veeam
Veeam

Its a flat fee of $9.50 irrespective of the size of the trade.

S. Mathieson
S. Mathieson

Thanks for the prompt reply

Lisa M.

Lisa M.asked

What is the minimum deposit amount?

No answers
Phuong T.

Phuong T.asked

What are Selfwealths online human chat hours? I have tried the online chat at 9.40am and am still getting answers from a chatbot.



1 answer
SelfWealth
Jarrod P.SelfWealth

ASX trading hours, which are 10am - 4pm each weekday. Excludes days when the ASX is not trading.

Phuong T.

Phuong T.asked

what are SelfWealth online chat's service hours?

1 answer
SelfWealth
Jarrod P.SelfWealth

ASX trading hours, which are 10am - 4pm each weekday. Excludes days when the ASX is not trading.

Garry

Garryasked

I have two accounts with Self Wealth it would be good if I could login to one area and the select the account I wish to operate in, cost is not the issue ease of use is
example
Trust
Superannuation
Children
Grandchildren
Also a report that looks at your share portfolio as at 30 June 19 value compared to todays date and reflect change in value



1 answer
SelfWealth
Jarrod P.SelfWealth

Hi Garry, we're rolling this out in the next few weeks, the ability for you to consolidate your accounts. If you open a new account you can already do so under the one log in.

Jeremiah R.

Jeremiah R.asked

Is it possible to trade options contract thru selfwealth ? Is there a higher brokerage if so

1 answer
SelfWealth
Jarrod P.SelfWealth

Hi Jeremiah! Only ASX traded securities at the moment.

ABC

ABCasked

how do i make an offmarket trade on selfwealth so i can transfer my shares to my wife?

3 answers
SelfWealth
Jarrod P.SelfWealth

You need to fill out an Off Market Transfer form and know the details of your wife's HIN. You can find that here: http://www.selfwealth.com.au/OffMarketTransferForm

NICHOLAS LOURANDOS
NICHOLAS LOURANDOS

Complete an "Off Market Transfer" form and provide the Holding Identification Number (HIN) of the party receiving the shares. The form is used when transferring shares between different accounts.The HIN is on a CHESS statement from your brokerage account. Please follow the link:
http://www.selfwealth.com.au/OffMarketTransferForm

ABC
ABC

Thanks for the speedy response. Very helpful. Followed the advice. Nice and simple

A_J

A_Jasked

Why isn't Osko supported by the trading account. It makes it slow to get money in when you see an opportunity

1 answer
SelfWealth
Jarrod P.SelfWealth

Hi A_J, thanks for your question. Currently the bank account set up that we use doesn't support Osko, or the NPP. Once ANZ roll it out to this specific bank account type (it's very different to what accounts you get directly with the bank) we will make it available to our users. This won't be happening anytime soon, unfortunately. Try using BPAY, that will get into your account the next day, if done earlier in the day, the day before.

Yagnesh Chandarana

Yagnesh Chandaranaasked

Hi

Are volume of trades good on Self Wealth?
Enough buyers and Sellers?

2 answers
SelfWealth
Jarrod P.SelfWealth

You are trading on the ASX via a broker, not with individuals on the platform. Even if there were only 5 users on SelfWealth, it would be irrelevant as you are trading with anyone that trades on the ASX.

Yagnesh Chandarana
Yagnesh Chandarana

Thanks

Sue C.

Sue C.asked

i want to buy some shares for my grandaughters, is this possible through selfwealth

4 answers
SelfWealth
Jarrod P.SelfWealth

Yes, it depends on how you want it structured though. If you want to open a 'minor's account' then this will be available in the coming weeks. Otherwise, you can buy it on your Grandaughter's behalf in your account but please consult a tax accountant if you wish to do this to better understand the complications.

A_J
A_J

My wife and I both have self wealth accounts but were in the same boat. Had to sign our daughter up to comsec because it wasn't supported in self wealth

Jamie M.
Jamie M.

Is this up and running yet Jarred?

Kippax

Kippaxasked

Does the membership fee of $20 / month kick in after the "trial" period ends ?
I currently have a personal account with another broker, which is also linked to three of my kid's accounts, as I'm the trustee. Do I open a seperate account for them or do I simply provide the CHESS details when opening my account ?

1 answer
SelfWealth
Jarrod P.SelfWealth

No it does not, you will need to upgrade your account to continue the Premium membership. Premium membership does not impact your ability to trade, nor to access the $9.50 fee.

You will need to create separate accounts for your children. You can provide the HIN of those accounts when you apply for their account. I would suggest until 29th February before doing this though, as you will be able to create an account under your current log in, whereas currently you need to create an entirely new account with new log in details. If this doesn't make sense, please get in touch with [email protected].

Alice H.

Alice H.asked

Hi
I have not traded before, I would like to learn how to trade the market and use my super to trade

Kind regards
Alice

1 answer
SelfWealth
Jarrod P.SelfWealth

Hi Alice! It's best to do your own research or speak to a financial adviser to understand if this is the best way to invest your money. You should also talk to an accountant about how to trade with your super.

Alan

Alanasked

Family trust membership

1 answer
SelfWealth
Jarrod P.SelfWealth

If that's a question about account types, yes, you can open an account as a Family Trust. Just ensure you have the documentation ready.

Plt

Pltasked

Can we trade US Stocks with Selfwealth platform?

1 answer
SelfWealth
Jarrod P.SelfWealth

At the moment you cannot, we are aiming to deliver this feature in 2020, for US markets.

Siran Z.

Siran Z.asked

Is SelfWealth's common practice to block customers who ask questions they don't want to answer? I was asking politely and then got logged out without any notice. The next thing I knew was that I was blocked from opening another chat. Is that how you treat customers? Has anyone encountered this too?

1 answer
SelfWealth
Jarrod P.SelfWealth

Hi Siran, no we don't block customers at all. It may be an issue with the chat system, I'd suggest clearing the cache in your browser (Chrome instructions here: https://support.google.com/accounts/answer/32050) otherwise try at another time. If it was late in the day, the live chat automatically closes at 4pm when the market closes. Sorry for the inconvenience!

Rhys

Rhysasked

I am looking at changing from comsec to SelfWealth. If I sell say $100,000 worth of ASX shares and then want to purchase $100,000 in another ASX company can the Buy order be placed on the same day as the SELL order as with ComSEC or do i need to wait for 2-3 days until the SELL order is in my account?

Cheers Rhys

2 answers
Mick
Mick

Rhys, the funds from your sell order go into your account just as soon as those shares are sold. I did just that, a few days ago.

SelfWealth
Jarrod P.SelfWealth

Hi Rhys, Mick is correct: you can trade on unsettled funds. You would have to wait a few days if you wanted to withdraw the unsettled funds but you can trade on it without any issues.

Donnie

Donnieasked

Hello Team,
I understand that shares and etfs purchased would fall under my name from what I gather from questions posted earlier on. But do you also provide Annual Tax Statements for ETFs / Shares bought?

3 answers
SelfWealth
Jarrod P.SelfWealth

Hi Donnie, we don't have comprehensive tax reporting yet but we do have reporting that you can provide to your accountant.

Yang L.
Yang L.

The selfwealth supplied a tax reports for me in last few years. The reports were not complicated but very helpful. I lodged my tax return base on those reports.

Donnie
Donnie

Ok great...thanks for the reply and help! :)

Maggie Madden

Maggie Maddenasked

I would like to invest my SMSF monies if EFT's and I need to speak to someone please as this is all new to me. I would appreciate a call on 0418322867 asap. Please
Kind Regards
Maggie

2 answers
Baby H.
Baby H.

SelfWealth is a broker, so wouldn't give advice, but ETFs are available to buy through SelfWealth. A200 for example being the ASX 200 ETF run by BetaShares.

Maggie Madden
Maggie Madden

Thankyou for getting back to me I thought that’s what brokers did give advice
Regards
Maggie madden

Wendy

Wendyasked

I am currently using Comsec for both ASX and US share trading. Can I open a SelfWealth account and still keep my Comsec account? Also, are bank hybrids available for trading on SelfWealth? Grateful for your advice. Wendy

3 answers
Peter
Peter

Hello Wendy. You can open a SelfWealth account and retain your Comsec account. You will have 2 different HIN's (I also have a Comsec account for ASX trading in shares, options and warrants plus US trading. You can trade hybrids on SelfWealth including HBRD (the best of them). Good luck Ps. SelfWealth to add US trading in the near future, also have a look at stake.com.au that I also use.

Wendy
Wendy

Hi Peter. Thank you very much for your advice. Can I sell shares which are currently on my Comsec account on Self Wealth? And what would be the procedure if I can transfer the shares I own between the two accounts? Can you tell me if Stake is safe? Again, can I transfer my US shares out of Stake? If I have to keep them there what would be their custodial arrangements/insurance, W8-Ben form process etc? Sorry to ask so many questions but I am still a learner in this space. I only have a small account so Comsec brokerage is eating too much into my portfolio. Many thanks, Wendy.

Peter
Peter

Hi Wendy,
1) You would need to open a SelfWealth a/c and transfer the shares from Comsec to SelfWealth. You will be asked during the a/c opening process if you have shares you want transferred.
2) I do not know much about stake. I only use them for short term trading as they do not charge any brokerage.,
3) Do you know about Comsec Pockets for US ETF's.
Good luck

Ngoc Vinh N

Ngoc Vinh Nasked

Do SelfWealth have Capital Gain/Loss calculattion in a financial year? in order to do tax return easily, please let me know, thanks.

2 answers
SelfWealth
Jarrod P.SelfWealth

We don't have tax reporting (yet) but for shares bought and sold in SelfWealth, you will have transactional information that will illustrate gain and loss. For shares transferred to SelfWealth, we don't receive the information about your 'buy' transaction from them.

Ngoc Vinh N
Ngoc Vinh N

thanks

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