SelfWealth review

Nothing for holding and nothing for letting an account sit. The account fee is AUD 0 and the inactivity fee is AUD 0, both in Australian dollars, so a young account can stay open for years without a bill. The charge only arrives when you deal.

A stock trade costs AUD 9.50 in Australian dollars. That is the number to watch, because the €0.07 upper mark for beginner brokers sits below it, so the cost adds up for anyone dealing often. Someone buying a few shares each month pays very little.

SelfWealth is licensed by the Australian Securities and Investments Commission (ASIC) in Australia, and the licence number is 421789. A licence means the firm is supervised and has to follow the regulator's rules on its own position and on how it treats client holdings. That is the main comfort point for anyone weighing safety.

The list is short: stocks and etfs. That covers the everyday investor who wants to build a share portfolio, add to it each month, or hold a few ETFs next to cash. Anyone who also wants forex, contracts for differences, or crypto will need a different broker.

You can deal on mobile app and desktop, which covers a mobile app and a desktop. The mobile app is the usual way to check holdings and place an order, and a desktop platform gives more room for research and watchlists when you want a bigger screen.

Beginners. The listed audience is beginners and the pricing follows a low fees model, which suits someone at the start of their investing life rather than a professional. A AUD 0 account fee, a mobile-first way in, and a short instrument list all point the same way.

Not most. Across the brokers listed on this site, a median of 70.15% of retail accounts lose money, and the figure for stock brokers is 72.03%. Cheap holding costs protect your monthly outgoings, not the value of your picks.