SelfWealth (ASX:SWF) welcomes influx of active traders in June quarter

SelfWealth (SWF) has welcomed an influx of new clients on its retail trading platform for the June 2020 quarter.

SelfWealth is a securities brokerage company and claims to be the cheapest online broker in Australia, with a competitive fee of $9.50 per trade.

New clients

Essentially, new customers complete an application to set up a trading account which will allow them to trade shares through the SelfWealth platform.

“Ultra-low interest rates globally and the digitalisation of investment markets have led to large numbers of new investors in the share market, particularly amongst the Millennial and Gen Y demographic,” Managing Director Rob Edgley said.

SelfWealth reported an additional 14,132 active traders joined its platform during the June quarter. This represents a 44 per cent quarter-on-quarter increase with total active traders sitting at 46,445 as at June 30 2020.

The increase of active traders has led to six consecutive record months in trade volumes during the first half of the year.

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Source: SelfWealth (ASX:SWF) welcomes influx of active traders in June quarter – The Market Herald