Homeowners may be fuming about rising interest rates that prompted an apology by Phillip Lowe, but for online broker SelfWealth (ASX: SWF), it’s kicked them into positive cashflow thanks to an abundance of customer funds being held on the platform. For the quarter ended 31 December 2022, SelfWealth reported $151k in positive cash flow but
Read More
As if crypto was not already having a tough year with the global stock market crash, it now has a new woe to deal with: Binance pulling out of the FTX merger deal. On November 8, both crypto exchange companies’ CEOs publicly announced that Binance would buy its rival FTX, as the latter suffered from
Read More
Cash. It’s all about cash. And retail investors are playing safe by holding cash instead of equities as online brokerage company SelfWealth (ASX: SWF) progresses through a business transformation which has seen its growth slow, and profits fall. As previously acknowledged by SelfWealth, the surge of retail investors entering equity markets during the pandemic was
Read More
Although low-cost trading platform SelfWealth (ASX: SWF) has seen customers reduce their online trading activity, many opting for rival platforms that are even cheaper, there is a silver lining amid rising interest rates where the Company is accruing more revenue as interest through the $736 million they hold as cash on behalf of their customers.
Read More
Embattled online share trading platform SelfWealth (ASX: SWF) is bracing for further declines in their customer activity flagging the recent downturn as the “new normal” after huge increases in retail trading activity while Australians were locked up at home throughout the pandemic. The March quarter represented SelfWealth’s first post-lockdown quarter with lower trading numbers across
Read More
In what they have described as a “competitive environment” created by the entry of online stockbroker Stake into Australia, local broker SelfWealth (ASX: SWF) appears to be holding the US fintech giant at bay, reporting increases to their revenue and customer trading accounts. For the Quarter ending 31 December 2021, SelfWealth reported $5.07 million in
Read More