SelfWealth is an Australian fintech business offering a flat fee brokerage service and social portfolio construction network for investors.
The company was founded by former CBA banker Andrew Ward and listed on the ASX in November 2017 after closing its initial public offering at $7.3 million.
The company is focusing on Australia’s growing network of self-directed investors, providing a flat fee online brokerage service and social network based portfolio construction function.
Live order feedback within sub-seconds
SelfWealth’s basic plan offers self-directed investors a flat fee of $9.50 per trade, regardless of trade size, to trade on the ASX.
The company’s premium plan is an online network that enables members to track and target the performance of thousands of other portfolios in the community to assist their own investing.
SelfWealth’s integration with OpenMarkets will allow it to execute equity trades on the ASX in real-time and receive live order feedback within sub-seconds.
A key benefit of real-time streaming information is that users will be able to see the status of orders immediately, preventing the placement of duplicate orders resulting from delayed feedback.