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Finder's rating: 4.5/5
★★★★★
$10
Standard brokerage fee
ASX, NASDAQ, NYSE, LSE, Euronext
Available markets
Phone, Email
Support
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Type of broker |
Full service Online |
---|---|
ASX products |
Shares Company issued options Instalment warrants Endowment warrants IPOs/floats |
Available markets |
ASX NASDAQ NYSE LSE Euronext |
Standard brokerage | $10 |
Support |
Phone |
CommSec is Australia’s largest and most well known broker for good reason. It remains the benchmark, with its ease of use, educational resources, technical analysis tools and broker recommendations making it suitable for just about any investor.
With over 20 years of share trading experience, it's one of the most widely used platforms in Australia.
While it is one of the better brokers around, investors are paying for the service with CommSec having higher fees, especially on trading in the United States compared with some of the low cost options.
Launched in 1995, CommSec is one of Australia's oldest share trading platforms for the retail market.
Today it's among the country's largest and most well-known online brokerages, offering Australian and international shares, exchange traded funds (ETFs) and self-managed super fund (SMSF) accounts.
You don't need to be a banking customer of Commonwealth Bank to open a CommSec share trading account, but it does allow you to easily view and move between banking and trading accounts with a single login.
If you've experienced the confusing mess that flicking between multiple accounts and logins can serve up, you'll know how handy this type of integration can be.
Looking for something different? Find the best online share trading platforms.
The CommSec share trading account offers useful features for both novice and advanced investors. However, the platform is simple enough to use that new investors won't be too overwhelmed.
While its brokerage fees aren't the lowest on the market for trades of more than $1,000, there's no minimum trade requirement on your standard Australian shares account. This means you won't be charged an inactivity fee or any other monthly fee.
Plus, one of the platform's biggest drawcards is the free high-quality data feeds and research on all listed securities.
Fees |
★★★★★ 3.8/5 |
Brokerage fees are low for small trade sizes but increases the higher the trade. On the plus side there is no inactivity fee. |
Trading tools |
★★★★★ 4.3/5 |
CommSec offers a long list of conditional orders, plus margin trading and charting tools. |
Research and education |
★★★★★ 4.8/5 |
CommSec offers broker analysis on stocks, company announcements, plus regular markets updates. |
Available securities |
★★★★★ 3.5/5 |
CommSec offers shares, ETFs, warrants and options. |
Customer support |
★★★★★ 3/5 |
There is no live chat but you can phone or email from 8am to 7pm, Monday to Friday. |
Current clients of Commonwealth Bank can use a single login to easily switch between both CommSec and NetBank, which helps to keep all finances in one place. If you choose to go down this path, it pays to set up a Commonwealth direct investment account (CDIA). A CDIA is the same as a regular transaction account. However, it can also be used as a trade settlement account which is viewable right next to your current bank balances within NetBank. Plus it gives you the option of having a debit Mastercard attached to the account.
Clearing House Electronic Subregister System (CHESS) is a management system used by the Australian Securities Exchange (ASX).
CHESS sponsorship is automatically applied to all newly opened CommSec share trading accounts. If your account is CHESS-sponsored, it will have a unique holder identification number (HIN).
For example, if you own shares in company X, Y and Z, all 3 of these companies would be under a single HIN due to having a CHESS broker. This allows investors to update key details such as registration name, address or tax file number in a single update rather than having to update every individual share.
It also acts as an insurance policy should the broker cease trading.
All CommSec share trading accounts provide clients with up-to-date market prices and data. With a CommSec share trading account, you're able to stay up-to-date with the latest news and releases as they happen. You can access reports, videos and analysis from CommSec analysts directly within the platform.
One of the key benefits with CommSec is it allows investors to create personalised lists that view live pricing, research and data points.
The company has diversified into an app called CommSec Pocket which allows investors to start trading from as little as $50.
With CommSec, investors need to have a minimum of $500 before they can begin trading.
While the trades are limited to 7 themed ETFs, investors can now gain access to the market through CommSec for a tenth of the usual trading costs for $2 per trade.
CommSec allows you to invest in overseas markets by opening a CommSec international securities trading account. Within a single account, clients have the ability to buy shares in US companies such as Apple and Google along with global stocks and ETFs listed in over 25 overseas markets.
CommSec share trading account holders can log in and place trades through a number of portals. Trades can be placed online via a web browser, through the CommSec mobile app for iPhone and Android or simply by calling up and placing an order over the phone. Even without Internet access, you have the peace of mind that comes with having phone access to the CommSec office.
Depending on which CommSec trading account you choose, you'll be able to trade in a number of different markets:
Through CommSec you can open an Australian share trading account and an international share trading account.
In terms of trade settlement, you can use either a CommSec CDIA, your own account or you can trade through margin loans. This is what you can expect:
If you choose to conduct trades using the CDIA, you'll benefit from lower brokerage fees and no account keeping fees. Plus, you can earn tiered interest on funds in your account and have access to all free live trading tools and market research.
If you choose to trade with CommSec using your own cash account you'll still have access to all the same tools. However, you'll be charged a higher brokerage fee (starting at $29.95).
If you choose to trade using a margin loan, you get access to the same benefits such as free trading tools and live market data. However, you'll also get access to risk management tools and portfolio monitoring.
A broker the size of CommSec is naturally expected to have a high level of customer support access. If you have queries or problems, there are a number of choices:
Overall, CommSec customers can expect a reasonably high level of customer support for an online broker. The only disappointing feature about CommSec's customer service is the fact that it doesn't have a live chat option. The live form on its website isn't actually live and it can take 1-2 days for a response to come through via email. That's frustrating for clients who have short questions that could easily be answered on the spot by a live chat representative.
There are a few basic fees and brokerage charges you need to be aware of when using CommSec:
You have a few options when paying for your share trades through CommSec. When you buy shares, settlement must occur within 2 business days – this is called "T+2". This means your funds will need to be available by this date or you'll incur a fee. Options include the following:
When you're ready to open a CommSec share trading account, click the Open Account button on the CommSec website. You'll be faced with the following screen asking whether you'd like to trade with a CommSec cash account or your own cash account:
Selecting the first option to trade using CommSec's cash account will give you a new CDIA, which essentially means you get cheaper brokerage fees. You can choose to trade from an account outside of CommBank, but you'll be hit with higher fees. You can read more about what these options mean in our CDIA guide. Once you've selected which account you'd prefer to use, follow the 4-step process:
To complete the account opening process, you must be 18 years or older and have the following documentation handy:
July 15, 2019
Please advise me of my Commsec no. I have changed address several times but my address still says the same.
July 17, 2019
Hi Loraine,
Thanks for getting in touch!
It would be best to reach out to Commsec directly to obtain your Commsec number. Kindly note that we do not work with Commsec and the information such as account numbers are not visible to us.
Hope this clarifies!
Best,
Nikki
February 19, 2019
I am thinking of opening a commsec account and wondering if I can transfer my shares I have already from a previous company share program?
Cheers shane
February 20, 2019
Hi Shane,
Thanks for getting in touch! You can find information on how to open a Commsec account on the page above that says “How do I open a CommSec share trading account?” and you should be able to transfer shares from a previous company share program to this account unless the other company prohibits it. Hope this helps!
Best,
Nikki
March 15, 2018
Is it possible to set up and purchase shares in an ITF (in trust for) my young 15 year old daughter with commsec?
March 22, 2018
Hi Jeremy,
Thanks for getting in touch with Finder.
One of the requirements to use the CommSec platform is for the user to be 18 years old and above. CommSec’s website mentioned this:
“CommSec cannot trade on behalf of a minor. You can however open an account in the name of an adult who will act as trustee until the minor turns 18. Once the minor has turned 18, the shares can be transferred into an account in their name.”
Just in case you want to explore other share trading platforms, you can use our comparison table to help you find the right platform for you. When you are ready, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can sign up or get in touch with their representatives for further inquiries you may have.
I hope this helps. Should you have further questions, please don’t hesitate to reach out again.
Have a wonderful day!
Cheers,
Joshua
February 14, 2018
Is there a minimum amount I need in my cash account for trading or investing ?
March 1, 2018
Hi Ariel,
Thanks for leaving a question on finder.
No, you’re not required to have a minimum savings/money in your cash account so you can trade/invest. But of course, if you are linking your bank account to the CommSec Share Trading Account, during the payment process, you should make sure to have enough funds in your bank account to pay for the shares.
Aside from paying through a linked bank account, you can also pay for your shares via BPAY or visiting a CBA branch.
Cheers,
Joel
March 1, 2018
Hi Ariel,
Thanks for leaving a question on finder.
No, you’re not required to have a minimum savings/money in your cash account so you can trade/invest. But of course, if you are linking your bank account to the CommSec Share Trading Account, during the payment process, you should make sure to have enough funds in your bank account to pay for the shares.
Aside from paying through a linked bank account, you can also pay for your shares via BPAY or visiting a CBA branch.
If you need anything else, please send us a message anytime.
Cheers,
Joel
July 6, 2017
If I buy US shares from Company X thru Commsec will Commsec own the shares on my behalf or will I be the actual owner? i.e. on the company share register for this share purchase who will be listed as the owner? many thanx.
July 10, 2017
Hi Bob,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
When you buy a share through CommSec, you become a part owner of that company. You will receive similar benefits to owning any business, such as a share of profits distributed through dividends, and usually the right to vote at company meetings. For more details you may contact CommSec directly or refer to their website.
I hope this helps.
Cheers,
Danielle