To open a US trading account, you must have an active SelfWealth ASX trading account.
If you are new to SelfWealth you will need to satisfy the following requirements:
- Be a current Australian Tax Resident
- Have submitted an Australian Tax File Number (TFN) as part of your ASX Trading Account
For more information on how to open an ASX trading Account click here.
I already have an active SelfWealth ASX Trading Account, what's next?
If you already have a SelfWealth ASX trading account (or once your ASX trading account is approved) follow the below steps to add US trading:
- Login to the SelfWealth website (https://secure.selfwealth.com.au/)
- Click Settings on the left-hand navigation bar (you may need to scroll down to see this option)
- Click on the Portfolios tab. This will bring up a list of all portfolios attached to your account.
- Locate the portfolio you would like to add US trading to, then click the Select a Market menu and select Add US Trading
- This will bring you to the 'SelfWealth US Trading Registration' menu. Confirm you have selected the correct trading portfolio and click Continue
- You will be shown a brief summary of your account details with SelfWealth, make sure that these are correct before proceeding.
- Select whether you would like to transfer existing US stocks from another custodian (this can also be completed once the account is active)
- Confirm whether your Politically Exposed Person (PEP) status has changed
- Click Continue
- Enter your password and accept the 'US Application Declaration' (SelfWealth & Phillip Capital Terms & Conditions and Financial Services Guide), then click Submit.
- You will be asked to submit a W-8BEN or W-8BEN-E form to complete the application process (for more information on the W-8BEN forms and their submission click here)
- If you are adding US trading to an Individual or Joint portfolio you will be prompted to complete a W-8BEN form through our online tool.
- If you are adding US trading to a Super Fund, Trust or Company account you must print off the provided copy of the form, complete it in pen and submit a copy via email to email@example.com.
Congratulations, your US trading application has now been submitted!
Please note: if your portfolio has multiple signatories, all account-holders must log in to their account and complete the above process before your US trading account can be activated. You can check the signatories on a portfolio by logging into the SelfWealth website, clicking Trading Account then Account Details. The signatories will be listed under 'Individuals'.
When will my US trading account be ready?
For Individual or Joint portfolios, you will receive an email once your US Trading account is active (usually within 24 hours).
For Super Fund, Trust or Company portfolios you must submit a copy of your completed W-8BEN-E via email before your account is approved. Once your form has been reviewed and approved (typically within 3 business days of submission) your US trading account will be activated within 24 hours.