SelfWealth, Australia’s Leading Trading Platform, Launches US trading In Their ASX Portfolio
Australia’s low-fee leading trading platform, SelfWealth, will launch a beta-test program with a few selected members to integrate US trading before Christmas 2020 — on December 14, with a new mobile app for Android and iOS.
More than 60,000 Aussie investors will have direct access to all major US exchanges through their SelfWealth account. The Melbourne-based broker will add the US trading account into their ASX portfolios.
Pre-registered traders will have access to popular American stocks like Facebook, Amazon, Tesla — and more than 7,500 + other financial instruments to choose from, a list which SelfWealth plans to expand in the future.
Competitive FX fees
The US trading launch is coming with a $9.50 USD flat fee per trade. Unlike banks, which can charge up to 1.00% SelfWealth implements competitive FX rates, charging only 0.60 % when transferring to or from USD.
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.
Edgley underlined the support of SelfWealth clients, who have shown increased interest in the new US trading launch and additional products.
“Our hard-working team will now turn their efforts towards additional functionality across the trading platform and new products that our clients have been asking for.”
According to Edgley, Aussie investors don’t need multiple trading accounts and apps to access US stock markets. SelfWealth members will have a US cash account to help them avoid per-trade foreign exchange fees.