With two decades of experience, CommSec provides Australians with real solutions to making your own investments online.
CommSec is an Australian online investment broker, offering you access to a number of markets and accounts, from the one convenient account login. There are no charges for joining CommSec, and you will not have to pay any ongoing monthly fees if you choose to open any of their accounts.
Brokerage fees are competitive across CommSec accounts and it’s most definitely true that you get what you pay for when trading with the biggest broker in Australia.
Who is CommSec?
For over 20 years CommSec has been building a reputation as one of Australia's leading online brokerage and trading service providers. Now with a customer base of over 1.5 million Australians, they offer a multitude of trading solutions that includes not only domestic share trading options, but also the ability to grow your wealth through access to international shares and contracts for difference (CFD).
Operating entirely online, CommSec not only provide you with a number of investment and trading account options, but they offer a single login across them all. This means that you no longer have to flick between multiple windows or open a number of cash settlement accounts in order to trade multiple markets.
What types of accounts are available through CommSec?
Compare CommSec trading accounts via our two main review pages below:
- CommSec share trading account - Invest in Australian and international shares.
- CommSec CFD trading account - Trade share market, forex, indices and commodities contracts for difference.
CommSec also gives investors the option to choose between an individual, joint, SMSF, trust or company account. By choosing the right account for your circumstance you can ensure that you are getting access to the specific account type to meet your individual trading needs.
What markets can I trade through CommSec?
Depending on which CommSec trading account you choose, you will be able to trade a number of different markets. CommSec clients are able to find trading opportunities in:
- Australian shares. Historically, the Australian stock market has provided better, long term returns compared to other investments.
- Managed funds. These are great tool to diversify your portfolio. As an investor you buy individual units, rather than shares.
- CFDs. This is a flexible leveraged product where you're exposed to price movements.
- International shares. With Commsec you can access 25 international markets, including the New York Stock Exchange and London Stock Exchange.
- Exchange traded funds. These are funds that trade on the stock exchange, similar to ordinary shares. Each ETF represents a basket of securities.
- Interest rate securities. These are debt investments that pay a fixed or variable rate of return. You're lending money to an issuer where they pay you back with interest.
- Warrants. This is a type of derivative to borrow money to invest in stocks.
Awards that CommSec has earned
- Money Magazine Best of the Best Award – Since 2008 CommSec has been awarded the Best of the Best award each year by Money Magazine for the Best Feature-Packed Online Broker.
Does CommSec provide any trade support and help?
As the trading arm of the Commonwealth Bank of Australia, CommSec are known for providing excellent trade support and help. The company's consistent focus on customer support is second-to-none as you can see by the options that clients have to choose between:
- Frequently Asked Questions (FAQs). The CommSec FAQ page is highly in depth and allows you to search their database with a question that may have already been answered.
- Phone support. CommSec have two English speaking numbers, one for clients within Australia and another for clients overseas. They also have a Cantonese/Mandarin number for use within Australia.
- Email support. The support email address allows clients to articulate their problems via text in a longer format and questions are usually answered within one business day.
- Questionnaire form. Unfortunately this form doesn't lead to a live chat session. The questionnaire form on their support page feels a little bit redundant, especially because attaching any supporting screenshots or documentation will open up an email window anyway.
- Twitter support. CommSec have now opened a dedicated @CommSecSupport Twitter handle and goes some way to supplementing the broker's lack of live chat feature.
How do I open a CommSec trading account?
You can open either a CommSec share trading, or CFD trading account by simply clicking the open account button on the CommSec website. There are however, a few other eligibility requirements that you should know about before proceeding to the application. These include:
- Minimum age. You must be at least 18 years of age if you want to join CommSec and take advantage of their online trading platform.
- Residency requirements. CommSec products and membership are only available to Australian residents who can provide an Australian residential and postal address.
- Depository requirements. There is no minimum deposit required for opening a CommSec account. If you are an existing NetBank or CommSec customer you can link your accounts and make your transfers to begin trading almost immediately.
If you are eligible to join CommSec gather the following documentation in order to make filling in the paperwork easier:
- Tax file number. Providing CommSec with your tax file number (TFN) or exemption codes is optional.
- Identification. CommSec will ask for your personal details including your date of birth and current mobile number.
Once you are given the details of your CommSec online trading account you can begin to make trades as soon as you transfer funds into your cash settlement account. If you're unsure where to start, check out our detailed share trading or CFD trading guides.