SelfWealth are launch US Trading next week.
Trading costs US$9.50 (~ A$12.78). The first trade will be refunded (A$13.00) to your SelfWealth account.
FX costs 0.60% - but you can keep a USD balance
We're really excited to launch US trading exclusively to current SelfWealth members. It will be ready to trade next week but you can submit your request to have it added to your portfolio, as of today!
What's new at SelfWealth?
Currently, you can only trade securities listed on the ASX through SelfWealth. That's changed. From Monday 14th December 2020, you will be able to transfer money from your SelfWealth AUD Cash Account to a USD Cash Account and invest directly into US companies, ETFs and other securities.
Your first trade is on us.
The brokerage on your first US trade on all portfolios will be refunded as $13 AUD on approximately the 15th of the month following your first trade, to that portfolio's AUD Cash Account. This offer is only available until the end of February 2020, read more.
What is the ownership structure of my US Holdings or USD Cash?
You are the beneficial owner of any US holdings with SelfWealth which will be held in custody with Phillip Securities Pte Ltd. Your cash will be held in a Phillip Capital Trust account with Standard Chartered. SelfWealth has no beneficial ownership or right to either your holdings or cash.