Plus500 vs SelfWealth
Plus500 and SelfWealth look like trading platforms, but they're fundamentally different products. Plus500 is a CFD provider — you never actually own the underlying shares. SelfWealth is a genuine CHESS-sponsored broker that buys real ASX and US stocks on your behalf. That distinction changes everything about fees, risk, and what you can do with your money.
- ›You want to speculate on price movements with leverage, not own actual shares or ETFs
- ›You trade CFDs on indices, commodities, or forex alongside share-like instruments
- ›You want a demo account to practice before committing real money
- ›You need 24/7 customer support via live chat, email, or WhatsApp
- ›You're comfortable with a custodian model where you don't get an individual HIN
- ›You want to buy and hold real ASX shares under your own HIN with CHESS sponsorship
- ›You trade US stocks and want a dedicated USD account to avoid repeated FX conversion fees
- ›You need joint, trust, SMSF, or minor account options — Plus500 offers none of these
- ›You want dividend reinvestment (DRP) and auto-invest / DCA features for building wealth over time
- ›You prefer a flat $9.50 brokerage on ASX trades with no inactivity fee
Where they differ
| Fact | Plus500 | SelfWealth |
|---|---|---|
| What you actually own | CFDs only — no real shares | Real ASX and US shares under your HIN |
| CHESS sponsorship | Custodian model (no individual HIN) | Mixed — individual HIN available |
| ASX brokerage | Not applicable (no real ASX shares) | $9.50 per trade (or free with Premium) |
| Account types | Individual and company only | Individual, joint, company, trust, SMSF, kids |
| Inactivity fee | $10 | $0 |
Choose SelfWealth if you want to own real shares; choose Plus500 only if you're specifically after leveraged CFD speculation.
Common questions
How do Plus500 and SelfWealth compare on what you actually own?
Plus500: CFDs only — no real shares. SelfWealth: Real ASX and US shares under your HIN.
How do Plus500 and SelfWealth compare on chess sponsorship?
Plus500: Custodian model (no individual HIN). SelfWealth: Mixed — individual HIN available.
How do Plus500 and SelfWealth compare on asx brokerage?
Plus500: Not applicable (no real ASX shares). SelfWealth: $9.50 per trade (or free with Premium).
When is Plus500 the better choice over SelfWealth?
Pick Plus500 if you want to speculate on price movements with leverage, not own actual shares or ETFs; you trade CFDs on indices, commodities, or forex alongside share-like instruments; you want a demo account to practice before committing real money; or you need 24/7 customer support via live chat, email, or WhatsApp.
When is SelfWealth the better choice over Plus500?
Pick SelfWealth if you want to buy and hold real ASX shares under your own HIN with CHESS sponsorship; you trade US stocks and want a dedicated USD account to avoid repeated FX conversion fees; you need joint, trust, SMSF, or minor account options — Plus500 offers none of these; or you want dividend reinvestment (DRP) and auto-invest / DCA features for building wealth over time.
Plus500 or SelfWealth — what's the verdict?
Choose SelfWealth if you want to own real shares; choose Plus500 only if you're specifically after leveraged CFD speculation.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | Plus500 | SelfWealth |
|---|---|---|
| account structure | ||
| CHESS sponsorship model | — | mixed |
| Individual HIN | — | Yes |
| Individual account | Yes | Yes |
| Joint account | No | Yes |
| Company account | Yes | Yes |
| Trust account | No | Yes |
| SMSF account | No | Yes |
| Kids / minor account | No | Yes |
| asset coverage | ||
| ASX shares supported | No | Yes |
| ASX ETFs supported | No | Yes |
| US shares supported | No | Yes |
| US ETFs supported | No | Yes |
| Other markets supported | HK | |
| Fractional shares (ASX) | No | No |
| Fractional shares (US) | No | No |
| Options trading | Yes | No |
| CFDs supported | Yes | No |
| Managed funds | No | No |
| Bonds supported | No | No |
| IPO access | No | — |
| costs hidden | ||
| FX spread (AUD/USD) | 70% | 60% |
| Holds USD account | No | Yes |
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| Corporate action fees | Not applicable — Plus500 only offers CFDs, so users do not participate in real corporate actions (rights issues, SPPs, takeovers). Dividend adjustments on share CFDs are credited/debited to positions automatically. | — |
| costs visible | ||
| ASX brokerage minimum | — | $9.5 |
| ASX free trade conditions | — | Selfwealth Premium subscribers ($29/month or $240/year) receive 10 complimentary trades annually; otherwise no free-trade conditions. |
| US brokerage minimum | — | US$9.5 |
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $10 | $0 |
| Withdrawal fee (AUD) | $0 | $0 |
| Off-market transfer fee | — | $27.5 |
| identity and trust | ||
| Legal entity name | Plus500AU Pty Ltd | SelfWealth Pty Ltd |
| AFSL number | 417,727 | 421,789 |
| Year founded | 2,008 | 2,012 |
| Parent / ownership | Plus500 Ltd (UK/Israel, LSE-listed parent) | Syfe (Svava Pte Ltd, Singapore) |
| Country of incorporation | AU | AU |
| Public company status | public | private |
| money movement | ||
| Minimum initial deposit | $100 | $500 |
| Minimum subsequent purchase | — | $0 |
| Deposit methods | BPAY, Bank transfer, Credit/debit card, PayPal, Apple Pay, Google Pay | OSKO, BPAY, EFT/bank transfer |
| Settlement period | — | T+2 |
| Withdrawal time | Typically 1-3 business days; same payment method as deposit (card, bank, e-wallet). | 1-2 business days |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | No |
| Demo account | Yes | No |
| Free real-time market data | Yes | No |
| Free research reports | Yes | No |
| 2FA support | SMS only | authenticator app |
| Customer support channels | Live chat, Email, WhatsApp, Contact form | live chat, email, phone |
| Support hours (AU time) | 24/7 live chat, email and WhatsApp support | 10am-4pm AET, Monday-Friday (closed public holidays) |
| Education content | structured courses | basic articles |
| tax and reporting | ||
| Australian tax statement | No | Yes |
| Distribution component breakdown | No | — |
| CGT calculator / report | No | No |
| Sharesight / Navexa integration | No | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | No | Yes |
| Auto-invest sophistication | none | multiple |
| DRP (dividend reinvestment) | No | Yes |
| After-hours / overnight trading | Yes | Yes |