Daily Bulletin

Money

  • Written by Melissa Mack

For the first time, Australian investors will be able to trade at the low-cost flat-fee rates as SelfWealth today launches its new TRADING platform.

 

SelfWealth TRADING is revolutionising stock trading in Australia, finally providing flat fee trading to a market dominated by the big banks.

 

Its disruptive model charges a flat $9.50 fee regardless of the size of the trade rather than a scaled model that sees investors paying percentage-based fees that run into the thousands for trades over $100,000.

 

Comparison of Online Brokerage Rates (price includes GST)*

Total trade size

SelfWealth**

CommSec

E*Trade

Bell Direct

CMC Markets

$5,001

$9.50

$19.95

$24.95

$15

$11

$10,001

$9.50

$29.95

$29.95

$25

$15

$100,000

$9.50

$120

$110

$100

$100

$1,000,000

$9.50

$1,200

$1,100

$1,000

$1,000

*Prices as at May 2016

**SelfWealth also charges a $19.95 monthly fee for full service.

 

The unique combination of the SelfWealth social network platform with the first truly low-cost brokerage platform in Australia is set to shake-up how Australians invest.

 

“The Australian brokerage market was disrupted with the introduction of online brokers CommSec and then CMC Markets in the 1990s, but these models have now become part of the status quo,” SelfWealth founder Andrew Ward says.

 

“SelfWealth TRADING completely disrupts every major broker in Australia, bringing a level of affordability to the 700,0000 investors that is currently not available locally.”

 

Mr Ward believes SelfWealth TRADING will become the second largest broker in Australia within five years.

 

The SelfWealth TRADING platform will give the first five trades of unlimited value free with SelfWealth INTELLIGENCE membership at $19.95 per month, which is tax deductible. Users can then buy single trades at $9.50 on an as needed basis.


The core platform sitting behind SelfWealth TRADING is supported by Pershing (a Bank of New York Mellon company) which executes the trades and is the conduit to the ASX and PowerWrap as the market participant.  

 

Both companies bring a wealth of experience and provide similar services to hundreds of Australian trading firms.

www.selfwealth.com.au


The Conversation

Politics

Senator Colbeck named Minister for Aged Care and Senior Australians and Minister for Youth and Sport

Liberal Senator for Tasmania Richard Colbeck has expressed his excitement in taking on responsibility for the portfolios of Minister for Aged Care and Senior Australians and Minister for Youth and S...

Daily Bulletin - avatar Daily Bulletin

Senator Canavan: Statement on Queensland Government's decision on Adani

I welcome the Queensland Government's announcement regarding timelines for Adani's approvals, but I don't thank them. The thanks go to the people of Central Queensland who have forced this outcome t...

Senator Canavan - avatar Senator Canavan

Australians reject Labor’s marine park lock outs

Australians have rejected Labor’s plans to return to their disastrous marine park lock outs policy. Assistant Minister for Agriculture and Water Resources Richard Colbeck said the strong result fo...

Senator Colbeck - avatar Senator Colbeck

Business News

The right way of compliance training: LMS

Does your business fall in the category of a small business, medium business or a highly regulated enterprise? Regardless, compliance training is unarguably necessary for everyone. However, many ...

News Company - avatar News Company

How Car Trailers Benefit Small Farmers

Farming activity requires moving implements, fertilizer, seeds, pesticides, equipments, tools and a host of other things to and from the farm, nearly as a regular activity. Even when your farm is at c...

News Company - avatar News Company

How to Ensure a Successful Letterbox Drop

With the clamour surrounding social media and digital marketing, you might be wondering why you should revert back to the older technique of a letterbox drop.When done right, a letterbox drop can be...

News Company - avatar News Company

Travel

What to Pack for a Tropical Vacation

Going on a vacation is one of the favourite activities for most of us. Sunny beaches and blue sea as far as your eyes can see; all you have to do is relax and enjoy your vacation to the fullest. How...

Brigitte Evans - avatar Brigitte Evans

Golden Year Guide - Preparing For Post-Retirement Travelling

Retirement is something that many of us spend most of our lives looking forward to, it is supposed to be what all that hard work and sacrifice is for. A lot of us have big plans for when we retire, ...

News Company - avatar News Company

5 Glamping Winter Getaways Perfect for this Season

Glamping, also known as “glamorous camping”, is such a huge trend right now all across the globe. Of course, this is no exception for travellers in Australia. From adorable cottages to luxurious be...

Laura Grant - avatar Laura Grant

ShowPo