Good news: we're upgrading US trading at Selfwealth. Here's what's changing, when it happens and what you need to do.
What you'll get
- Instant currency conversion, so you can buy and sell US shares without waiting
- Fractional investing, so you can own part of a share and invest any amount
- 24/5 trading, so you can trade outside regular US market hours
When it's happening
Your account will be upgraded over the weekend of 14 to 15 November. While this happens, you won't be able to place US orders outside market hours over the weekend and on Monday morning. Your ASX trading isn't affected. Before the upgrade, buying US shares pauses from 8:00am AEDT on Friday 13 November, but you can still sell whenever the US market is open. Currency conversions will pause from 1:00pm AEDT on Friday 13 November.
| What happens | AEDT | ET |
|---|---|---|
| Buying US shares pauses. You can still sell. | Fri 13 Nov, 8:00am | Thu 12 Nov, 4:00pm |
| Currency conversions pause | Fri 13 Nov, 1:00pm | Thu 12 Nov, 9:00pm |
| Open US orders are cancelled | Sat 14 Nov, 8:00am | Fri 13 Nov, 4:00pm |
| We upgrade your account. There's nothing you need to do. | Sat 14 to Mon 16 Nov | Sat 14 to Mon 16 Nov |
| Your US shares are back in your portfolio, currency conversions resume, and you can sell | Tue 17 Nov, 1:30am | Mon 16 Nov, 9:30am |
| You can buy, once you've completed your upgrade | Tue 17 Nov, from 1:30am | Mon 16 Nov, from 9:30am |
| We email you to let you know it's done | Tue 17 Nov, 7:00am | Mon 16 Nov, 3:00pm |
Frequently asked questions
When can I trade my US shares again? From Tuesday morning. You can sell from 1:30am AEDT on Tue 17 Nov, and buy once you've completed your upgrade.
Do I have to complete the upgrade? Only if you want to buy US shares. You can keep and sell your US shares without it.
How do I complete the upgrade? In the app, tap Complete setup on the card at the top of the Home screen. On the web, go to Portfolio and click Complete setup in the banner at the top. You can stop at any time and pick up where you left off. For company, trust and SMSF accounts, every authorised signatory needs to log in and complete the setup.
Is there a cost? No, the upgrade is free.
Can I still buy or sell US shares before the upgrade? Buying US shares pauses from 8:00am AEDT on Fri 13 Nov. You can still sell your US shares whenever the US market is open.
Can I trade while the upgrade is happening? You won't be able to place US orders until the US market opens at 1:30am AEDT on Tue 17 Nov. You can keep trading on the ASX as normal.
Can I convert currency during the upgrade? Currency conversions pause from 1:00pm AEDT on Fri 13 Nov and resume from 1:30am AEDT on Tue 17 Nov.
What happens to my open US orders? Any open US orders will be cancelled at the end of the US trading session on Fri 13 Nov (8:00am AEDT on Sat 14 Nov). You can place them again from 1:30am AEDT on Tue 17 Nov, when the US market opens.
Can I upgrade on the web? Yes, on the new Selfwealth web platform. When you log in, choose the new platform from the panel on the left of the login page. Then go to Portfolio and click Complete setup in the banner at the top.
Why is my average price showing as $0 or missing? For some shares, such as those you received through a merger or ticker change, we don't have an original purchase price on record. You can update your average price yourself in the app by going to your holdings and scrolling across to the average price (if you aren’t able to scroll, click on the toggle switch above your holdings list). This doesn't change the number or value of the shares you hold.
Will anything change with my shares? Your US shares are still yours. You'll see them in your portfolio as usual once your upgrade is complete.
I can't see my US shares. What should I do? First, make sure your app is updated to the latest version. If your shares still aren't showing by 10:00am AEDT on Tue 17 Nov, please get in touch.