How will Selfwealth deal with partially filled orders and brokerage charges once migration to FNZ Securities is complete?
Selfwealth will allocate one free trade to every account where a partially filled order has been identified and cancelled at close of business on Friday 5th May 2023. The free trade will be allocated by close of business Monday 8th May 2023.
Why can’t I trade on my account?
Between March 25 - 28, 2023, Selfwealth sent an email to all members (and account owners) titled 'Selfwealth is changing our Australian equities execution, clearing, and settlement provider' notifying you of the change and requesting all account owners to read and accept the terms and conditions so that you can continue trading once your account moves from OpenMarkets to FNZ Securities.
I accepted the T&Cs but still can't trade.
If you have a joint account, with multiple signatories, please ensure all account owners have accepted the T&Cs. Your account will not be activated until all owners have accepted the T&Cs.
This can be done in a couple of ways.
a. If the other owner has a unique login ID (their own personal login), make sure they have logged into their Selfwealth trading account and accepted the T&Cs. Or:
b. if the other owner does not have a unique login ID, they must to locate the email sent from Selfwealth titled ‘Selfwealth is changing our Australian equities execution, clearing, and settlement provider’, and click on the links which will redirect them to the T&Cs and allow them accept the new T&Cs.
I have logged into my account today and accepted the T&Cs but I can’t trade.
If you have an individual, Individual trustee or a Company account with a sole director and accepted the T&Cs when you logged into your account today, you will need to allow up to 60 minutes for your account to be activated before placing a trade.
I just accepted the Terms & Conditions, why does it take an hour for my account to be activated.
As part of the transfer to FNZ, Selfwealth are required to register your acceptance of the T&Cs before your account can be re-instated. This requires Selfwealth to send a message to FNZ to activate the account. We anticipate this process to take up to 60 minutes.
How can I see if the other account owner has accepted the T&Cs?
You will not be able to view this on your account, please contact us via our online Chat to confirm if all signatories have accepted the T&Cs.
I only trade in international equities, why do I have to accept the new T&Cs.
As part of the transfer from OpenMarkets to FNZ Securities, Selfwealth also updated our T&Cs and all SW clients are required to acknowledge and accept the changes to our service providers. Additionally, for our clients to have an international trading account, our terms of service require you to first apply for a domestic trading account.