I'd say that ASX has just about finished pulling back now - For...

I'd say that ASX has just about finished pulling back now -



For the past 3 years of ASX data, April and January are always quite similar. According to the chart above, as of yesterday, April has pulled back to the January volumes.

So since 20 March on the ASX, the COVID spike was pulling back toward normal levels, and as of 20 April, I think the pull-back should be approximately finished (unless people are so short on cash after March, that April goes below its seasonal norm.

My feeling is that SWF's trades have probably stayed approximately flat near the 20 March peak, instead of pulling back, because of fast user growth - because of COVID accelerating sign-ups for the whole industry, and with SWF taking 25% of those new and switching traders (higher than their previous 4% market share). But if they release April numbers, then that would confirm it.


They're hiring, and moving other staff into customer support roles for the time being. I'll start tracking staff numbers from now (or at least those on Linkedin).


Recently they got some bad reviews, people complaining about a slow sign-up process. They must be working very hard on that, but can't keep up.

- NABTrade by comparison got bad reviews because of down-time.

- Commsec got a couple of complaints about approval times and reliability.

- CMC - complaint about approval times.

So all brokers got complaints lately, but SWF having them about approval times is somewhat less severe.

As sign-ups probably slows down again (now?), and the new staff get used to the job, I think they will be back to business as usual within some weeks (getting the other staff off customer service and back to their usual jobs).


I have accumulated.