SWF - SelfWealth Limited

Still a happy customer and now a happier investor.
Kicking myself I didn't put this in the yearly comp.
30 day chart.

So by memory, exited last trade with a healthy profit some time ago now.
Have re-entered today.

A little snippet regarding some of my reasoning for entry last week.

Note the December quarter statement regarding opening up to US markets trading for same flat fee. Nice.

The annual report has some impressive growth figures (I won't start posting them all) indicating a direct benefit from covid situation, so Victoria affecting figures will largely show in December quarter results.

SP rising on small volume.
Looking for a nice close to the week and continuation of minor trend next week, ie breaking 60c. It has a history of sneaking up without much interest, and then the volume follows...

Received a promo email from SWF today (not interesting),but an interesting comment about the US trading component... words getting out. Might be ? lol

Last post.

frugal.rock said:

Looking for a nice close to the week and continuation of minor trend next week, ie breaking 60c.

Click to expand...

Running according to plan thus far. Once the volume starts back, a breakout may ensue.

US Trading to be Launched
Imminently

Melbourne, Australia – 7th December 2020: SelfWealth Ltd (ASX: SWF) ("SelfWealth" or "the
Company") is pleased to announce that US trading for SelfWealth retail clients will be launching on schedule, on the 14th December 2020.

As of today, 7th December 2020, the existing 65,000+ active clients of SelfWealth will be able to submit a request to have the US trading feature to be added to each of their approved Australian equity portfolios.

Any new clients that join SelfWealth from 14th December 2020 will be able to easily add on the feature during the initial sign up process.

As with the Australian equities portfolio, there are no fees
associated with adding US trading.

US trading features a USD Cash Account, competitive FX rates when transferring money between the
AUD and USD Cash Accounts, low-cost and flat-fee brokerage of USD 9.50 per trade and the choice
of over 7,500 US securities across all major US exchanges.

The functionality seamlessly integrates with the existing ASX-trading platform.

The new native mobile applications for iOS and Android will be released later in December to allow
for an undisturbed deployment of all US trading-related features.
US trading is supported through a long-term partnership agreement with PhillipCapital, a global
financial institution with over 1 million clients worldwide, and assets under management amounting to more than USD 35 billion.

The Company expects a high-level of uptake from existing clients and an increase in acquisition rates due to the complete offering now provided.

Managing Director, Mr Rob Edgley, had this to say on the much-anticipated release,
"For years, SelfWealth has been growing strongly off the back of disillusioned investors that have been overpaying to invest.

Now, they can invest in the US and the ASX in one convenient place at a reasonable price.

There's now no need for multiple trading accounts and apps to access some of the most popular stock markets, and SelfWealth members will have a US Cash Account to help them avoid foreign exchange fees on every trade.

"Our hard-working team will now turn their efforts towards providing additional functionality and new
products across the trading platform.

We're looking forward to announcing these additions in the
new year."

So, Selfwealth.
My top pick for the yearly 2021 comp. Out of my picks, it was merely a throw of a dart that Selfwealth managed top pick.

Reasons for choosing in the first place are that it stands as good a chance as any of rising through the year.
As a broker, it's still in its infancy and is still in growth phase.
Has recently introduced US broking at $9.50 US per trade.
I use Selfwealth as my broker for the AUD $9.50 trade cost for any sized trade.
Will probably switch on the access to the US markets if @peter2 keeps giving "Bob" assistance to trade the US markets in between their tennis rallies.

Covid gave Selfwealth a solid boost bringing more traders to the platform and lockdowns boosting trade numbers.

Some rapid growth figures in 2020 was rewarded in the share price, however the enthusiasm shown there has warned for now.

Am expecting a momentum revival after some quarters showing final results for FY20-21 which will bog all over last year's, as long as costs arent stupendous of course.

Held and am expecting it to bump $1.00 this year, and perhaps settle back to the $0.80 mark ( if it doesn't get through $1.00 that is)
Cheers.
3 year chart.

I signed up for US trading.
Very simple and quick process as I was already a Selfwealth customer.

Chart is worth revisiting about now, IMO. Held.

Last post on SWF for a bit unless...?

If today's bar doesn't pique interest, I don't know what does.
I concede it's likely to pullback before it goes for another bigger run, however, if it does, I will be doubling holding again to 4 positions.
I was holding 4 positions, but dumped half (small profit) when it didn't carry through $0.60 area properly.
It retreated to $0.50 but held and found support there.
I would say the weak hands are out. Target is $1.00 , expecting some resistance around 0.80 or so. Not particularly expecting a breakout, but won't knock one back either....
??

Must be getting close to the release of their new trading apps.
I believe February was stated as release date ?
Looking forward to using.
Happy with chart and price progress.

frugal.rock said:

Must be getting close to the release of their new trading apps.
I believe February was stated as release date ?

Click to expand...

Going along nicely FR. I don't hold yet but I think your exuberance is justified!

The effect of the US "launch" seemed to take a while to filter into the Market for some reason?

I don't trade US equities (They are all over 10 cents god damn it, lol.)

However, that facility alone has to make these guys "attractive" to serious Aussie Investors/Traders?

Today's price Bar was very positive. If punters want to enter, I think (70-75 cents) is about as good a level we might see in the short term but that is just my assumption so salt should be added!!

The recent high at 80 cents will likely be the next serious level to break so a bit more water under the bridge perhaps?

3 x Market Sensitive Announcements out this morning.

A snippet.

Melbourne, Australia – 19th February 2020: SelfWealth Ltd (ASX: SWF) ("SelfWealth" or "the Company") is pleased to update the market on the most substantial period of customer growth in the Company's history.

The Company has seen its strongest ever months of new client registrations.
These registrations have flowed through into record numbers of new active traders, as well as record numbers of trades across both the domestic and US markets.

The growth in new client registrations from the beginning of 2021 has eclipsed the previous peak growth levels seen in March and April of 2020, at the beginning of the COVID-19 pandemic.

Currently, 23% of all active traders have added US trading functionality to their existing ASX portfolios, and US trades are already approaching 10% of total daily trade numbers.

Interim half year results/4D and an investor presentation announcements also.
Growth galore...

$1.00 SP short term target.

On Monday local discount broker SelfWealth reported its active retail traders grew 166 per cent on the prior corresponding quarter to 85,944 in total, with total trades of 514,246, up 36 per cent on the December quarter.

Hadn't seen that table until now. That TOP 20 traded stock list consists mostly of speculative companies that are all narrative driven.

If that's representative of SWF's typical customer then it's no wonder SWF wants to provide more educational investment advice on the app.

I've just read the Datt Capital Statement to Members. Seems there's a boardroom drama happening. I was going to post my chart but I'll get the popcorn instead.

one element may be removed from any price action:

Clearing and settlement platform Openmarkets is understood to be reaching out far and wide in search for a new investor, as its talks with listed retail trading platform SelfWealth fizzle out.

The two companies began due diligence on an exclusive basis in March. It came after Openmarkets hit a cash snag, did a capital restructure and laid off staff. Its listing plans have been on the ice.

In the two months since, the two don’t seem to have ironed out a deal, with sources saying they didn’t see eye-to-eye on Openmarket’s valuation, which was as high as $160 million in last year’s private rounds. SelfWealth had a $52 million market capitalisation on Thursday close, and is a client of Openmarkets. Instead, Openmarkets seems to have pivoted towards looking at other potential buyers.

From latest quarterly;
"Transition underway to FNZ* for Australian equities execution,
settlement and clearing, to improve platform performance and enable new product development."

* Custodians (Australia) Pty Ltd.

Not held.
Have found that the current platform is very laggy from 3pm on each trading day, like some some throttling switch gets flicked on.
Not very impressed.
Quarterly shows me me they are about done with growth for now.
What will they cook up next via FNZ?

Their current system won't let you edit buy orders unless you have enough cash in there to fund the "2" theoretical transactions.
IE; it doesn't see your cash if it's tied up in an order, unfilled.
Only way around is to cancel the order and place a new one.

I have reported this problem to them a long time ago.

frugal.rock said:

From latest quarterly;
"Transition underway to FNZ* for Australian equities execution,
settlement and clearing, to improve platform performance and enable new product development."

* Custodians (Australia) Pty Ltd.

Not held.
Have found that the current platform is very laggy from 3pm on each trading day, like some some throttling switch gets flicked on.
Not very impressed.
Quarterly shows me me they are about done with growth for now.
What will they cook up next via FNZ?

Their current system won't let you edit buy orders unless you have enough cash in there to fund the "2" theoretical transactions.
IE; it doesn't see your cash if it's tied up in an order, unfilled.
Only way around is to cancel the order and place a new one.

I have reported this problem to them a long time ago.

Click to expand...

'laggy ' might not be exclusively a SWF problem i use a different platform that seems to have it's 'glitches' late in the trading session

( could be the NBN , the ASX , or that platform , rather than the laptop itself )

regarding ' cash' and unfilled orders , that is similar to Bell Direct ( i hold BFG )

i would also suggest market turnover this year is unimpressive ( ie more 'slow days' than i would expect before May's end )

The laggy thing was definitely a 3pm thing.

Market depth wasn't working today and has been glitchy lately.

Currently, the whole Self wealth platform is down.

It's really an immature platform overall, imo, and I'm sure there's other (newer?) players with cheap brokerage that offer CHESS security that are probably worthwhile.

frugal.rock said:

The laggy thing was definitely a 3pm thing.

Market depth wasn't working today and has been glitchy lately.

Currently, the whole Self wealth platform is down.

It's really an immature platform overall, imo, and I'm sure there's other (newer?) players with cheap brokerage that offer CHESS security that are probably worthwhile.

Click to expand...

https://hellostake.com/au
I use their smsf option and super cheap and reliable.