The best online share trading platforms like CommSec.
The rise of online investing platforms in recent decades has made it easier than ever before for everyday Australians to trade shares, contracts for difference (CFDs), commodities and a wide range of other assets. The CommSec share trading account is the best-known of the brokerage accounts available in Australia, but that doesn't mean it's your only choice of online trading accounts.
There are plenty of trusted and reliable online share trading platforms offered by banks and specialist brokers in Australia and around the world, so it's a good idea to compare your options before deciding on the trading platform that meets all your investment requirements and offers the best value for money.
Share Trading Account Offer
IG Share Trading
monthly fee
standard trade
Share Trading Account Offer
Competitive broker fees on Australian and international shares
- Monthly fee: $0.00
- Brokerage fee - standard trade: $8.00
- International: Yes
- Support - After hours: Yes
- Type of broker: Online only
Alternatives to CommSec
1. IG Markets
An IG share trading account offers clients competitive brokerage fees and 24 hour support when you trade both Australian and international shares.
If low brokerage is the most important factor in deciding on an alternative to CommSec, then IG is for you. They offer not only low brokerage fees, but also a reliable online share trading platform and a wide range of markets to choose from.
- Standard $8.00 brokerage
- Australian and International share trading
- IG share trading app
2. SelfWealth
With a SelfWealth share trading account, you're able to trade small or large size with a flat brokerage fee.
SelfWealth has an award winning share trading platform. enabling investors to buy and sell shares for one flat brokerage fee of $9.50 per trade. Whether you're a big or small trader, you'll never be charged any broker commissions on top.
- $9.50 brokerage
- No brokerage tiers
- Award winning platform
3. Saxo Capital Markets
Trading shares with Saxo Capital Markets is another option, offering access to 19,000 global stocks.
An online share trading account with Saxo Capital Markets offers fast and easy access to more than 19,000 global stocks on 36 of the world's major stock exchanges. Saxo Capital Markets allows you to access investment opportunities all around the world, ensuring you have a well-diversified portfolio.
- $6.99 or 0.1% brokerage
- Trade 19,000 global stocks
- Truly global stock broker
4. Bell Direct
Bell Direct has attempted to position themselves as the leader in stock trading execution speeds.
Bell Direct offers a one second placement guarantee, promising to place eligible market-to-limit orders onto the ASX in under a second or you pay no brokerage fee for the trade. This allows you to jump on trading opportunities quickly, and at the price you want.
- Tiered brokerage fees
- 1 second trade execution guarantee
- High client satisfaction
5. Halifax
Halifax Investment Services are a global heavyweight in the share trading industry, offering reliable execution and professional advice.
In recent years, Halifax Investment Services Ltd (HalifaxOnline) has become one of the largest multiplatform brokers in Australia- a position they have earned from years of dedication to the online trading market.
- Clearing and execution specialists
- Global stock broking heavyweight
- Reliable brand
6. nabtrade
National Australia Bank's online trading problem aims to make it as simple as possible for you to manage your investments.
nabtrade customers can take advantage of dynamic market data, advanced charting and investment insights to help them make informed trading decisions. Other features include an integrated cash account and the ability to trade Australian and international shares.
- Brokerage from $14.95
- Access more than 10,000 global securities
- Available on PC, tablet or smartphone
7. Westpac
Take charge of your investment strategy and enjoy myriad trading options with a Westpac Online Investing account.
The Westpac Online Investing platform is designed to simplify the trading process for casual investors. It offers access to Australian and international shares, managed funds, commodities, options and more.
- Brokerage from $19.95 or 0.11%
- Free live prices
- Company research and market commentary
Which trading accounts have comparable brokerage costs to CommSec?
As you can see from the company profiles above, brokerage fees are relatively similar across each company. As a comparison, CommSec's brokerage fees start at $10.00 per internet trade, although like with other companies, higher-value trades attract different fees, such as 0.12% for trades over $25,000.
On the other hand, SelfWealth have a flat brokerage fee system devoid of tiers. This means that whether you're a small or large trader, you know exactly what you're paying to trade at all times. If you're looking for the cheapest headline brokerage cost, you can't go past Saxo Capital Markets' $6.99 per trade.
When you're considering the brokerage costs of share trading alternatives to CommSec, make sure you look into any tiered fee structures and match it to your intended trade size.
Which trading accounts are reliable?
Just like CommSec, all of the trading platforms listed on this page can offer secure and reliable trading solutions. If you want to enjoy the peace of mind that comes from dealing with an institution you know and trust, you may want to consider opening an online trading account run by a big four bank, such as nabtrade or Westpac Online Investing. However, IG Markets, SelfWealth and Saxo Capital Markets are all very well-established and regulated names in the Australian share trading industry. All can be trusted as having safe online trading accounts..
Each trading platform has a raft of security measures in place to ensure the safety of your funds and your security details. For example, IG Markets and Saxo Capital Markets both keep all client funds fully segregated with top-tier Australian banks as required by the Australian regulator. Meanwhile, as another example, Westpac Online Investing offers 128-bit encryption when trading.
Which trading accounts offer CFDs?
As well as the opportunity to trade shares, CommSec also allows its customers to open a CommSec CFD trading account, allowing you to trade price movements in the value of underlying assets. With trades starting from $10, this account lets you access more than 7,000 types of CFDs, including Australian and international shares, foreign exchange currency pairs and commodities.
Alternatively, both IG Markets and Saxo Capital Markets offer CFD trading accounts, Both brokers have a massive selection of markets to choose from, across all asset classes. If you're looking for an alternative CFD account from one of the big 4, Westpac Online Investing customers who wish to trade CFDs just need to subscribe to the professional trading platform Trader Pro.
Which trading accounts offer forex trading?
If you're looking for a broker to allow you to trade forex markets, once again IG Markets and Saxo Capital Markets would be the two worth looking into. Both brokers offer forex trading in the form of CFDs, on a wide range of currency pairs. Spreads start from 0.6 pips and a range of trading ideas and strategies are provided by large teams of market analysts.
It's also worth noting that when you trade international shares, your trading platform will need to perform a currency exchange for you. For example, nabtrade's foreign exchange transaction services are provided by NAB, so when you place an order for international shares you will be quoted an estimated exchange rate that includes fees and margins to protect NAB against exchange rate fluctuations. Once your trade is executed, NAB then books a foreign exchange transaction on your behalf.
Which trading accounts lets me trade global indices and commodities?
In addition to trading Australian share market indices such as the ASX200, CommSec also offers access to international markets through CFDs, including the Dow Jones Industrial Average and the NASDAQ. Alternatively to CFDs, Westpac Online Investing offers access to the Dow Jones through ETFs and also allows you to trade on more than 30 international exchanges.
Alongside share market and stock index CFDs, they also offer the ability for clients to trade commodities such gold and oil. Popular commodity markets such as gold, silver and oil are all available to trade via CFDs, or through low-cost access to Exchange Traded Commodities.
Final considerations when looking for alternatives to CommSec
When it comes to making your final share trading account decision make sure you know what's most important to you. Do you most value low brokerage costs, a wide range of international share markets, or in depth broker market analysis?
It's also essential that you go through all of the fine print located in the broker's financial services guide (FSG). Note any asteriks that might lead to some type of fee that might affect your trading size or style.
If you still have questions about share trading, use our main guide to compare online share trading accounts in further detail.
Just letting you know, your link to Westpac actually takes you to General Pants Co
Hi David,
Thanks kindly for your comment. We have now made the corrections.
Cheers
Clarizza