CommSec Share Trading Account Review

Start buying and selling Australian shares quickly and easily with the CommSec Share Trading Account.

CommSec is the online security trading arm of the Commonwealth Bank, one of Australia’s largest banks.

With a CommSec Share Trading Account, customers can trade shares online quickly, easily and affordably. CommSec’s brokerage fees are competitive and it offers free real-time quotes, news and live charting to help give traders a market advantage.

Commsec offers features for both casual and regular investors.


What can I trade with a CommSec Share Trading Account?

With a CommSec Share Trading Account you can buy and sell:

  • Australian shares. Invest in companies listed on the ASX.
  • International shares. CommSec allows you to access more than 25 exchanges in the world, including the NYSE, NASDAQ, LSE and the TYO.
  • Company options. These options are issued by companies when they want to generate capital and trade on the ASX. Owning options gives you the right to buy more shares in the same company at a specific price level. Both Australian and some international ETOs can be traded.
  • Exchange Traded Funds (EFTs). These are managed funds that can be traded on a stock exchange just like normal shares. Both Australian and some international ETFs can be traded with CommSec.
  • Partly paid securities. Trading these securities does not require you to make full payment immediately. You make a small upfront payment to acquire the security and then make further instalments over time.

Features of the CommSec Share Trading Account

    • Market data. CommSec Share Trading Accounts provide you with free real-time data and news, allowing you to stay abreast of market developments.
    • Research. CommSec provides a range of free research tools to help customers make informed trading decisions. Customers can access live market depth, live charting, company announcements, share market news and reports, weekly stock recommendations, and stock prices and trends.
    • Access. Customers can place trades online, over the phone or via mobile apps for iPhone and Android devices.
    • Commonwealth Direct Investment Account (CDIA) You can set up a Commonwealth Direct Investment Account (CDIA) to act as both a settlement account with low brokerage fees, and also as an everyday transaction account.

If you ever need assistance with a particular trade or with any aspect of your CommSec Share Trading Account, phone and email support is offered from 8am to 7pm, Monday to Friday. Alternatively, there’s also an extensive online database of frequently asked questions that you can access if you need instant answers, and the CommSec Community forum where you can chat to fellow traders.

What do I have to pay to use the CommSec Share Trading Account?

These are the basic charges for the CommSec Share Trading Account:

Ongoing fees. There are no monthly fees associated with this account and you can open it for free.

Brokerage fees. CommSec’s brokerage fees vary depending on how you place your trade and the cash settlement method you choose:

  • Internet preferred share trades, (those placed by CHESS Participant Sponsored Customers and settled through a Commonwealth Direct Investment Account or through a CommSec Margin Loan/CommSec Adviser Services Investment Loan) of up to $10,000 incur a $19.95 brokerage fee. This fee rises to $29.95 for trades between $10,000 and $25,000 and to 0.12% for trades over $25,000.
  • If you choose a different cash settlement account: Fees of $29.95 (for trades up to $10,000) or 0.31% (for trades over $10,000) apply. Trades of up to $10,000 placed over the phone attract a brokerage fee of $59.95.

Pros and cons of using a CommSec Share Trading Account

Pros
  • Easy to use. CommSec Share Trading Accounts offer an intuitive user interface that makes it fast and easy to buy and sell shares, plus apps for smartphone users.
  • Solid information. From real-time market data to market depth, stock recommendations and a range of research, CommSec offers plenty of useful resources without charging a monthly fee.
Cons
  • WebIRESS Access. This popular share trading software for monitoring markets and trades is not included in the basic CommSec account, but you can add it for a monthly fee or after completing a minimum number of trades.
  • No online chat available. No live chat support is available at this stage.

How do I apply for a CommSec Share Trading Account?

You’ll need:

  • To be 18 years or older
  • To provide your name, date of birth and contact details
  • A valid email address
  • A current mobile phone number
  • A tax file number or exemption code

Frequently asked questions

Yes, CommSec Share Trading Accounts are only available for Australian residents.

If you want to transfer shares held with another broker to your CommSec Share Trading Account, you’ll need to fill out a Broker to Broker Transfer Form, which you can download after logging into your CommSec account.

If the shares you wish to transfer are held with the share registry, you will have to complete and submit an Issuer Sponsored Holdings to CHESS Sponsorship Transfer Form.

This can also be downloaded from CommSec, but it’s important to remember that the shares you transfer must have the same registration details (i.e., your name and address) as your CommSec account.

The minimum amount of shares you can buy online is $500.

This is a Commonwealth Bank account specifically designed for CommSec share traders. Using one of these accounts as your settlement accounts entitles you to lower brokerage fees. You can also optionally attach a debit Mastercard.

You can deposit funds into your account in three ways: direct debit from your linked bank account, via BPAY or by visiting a branch.

When you have placed a buy or sell order that results in a trade, you will receive a Confirmation Contract Note via email or post. Depending on your preferences, you can opt to receive this note in both post and email form.

You can also access up-to-date information on the status of your order on the CommSec website at all times.

No, CommSec offers a ‘One Off Trade’ service that allows you to sell shares at market price without opening an account.

No, there are no monthly or annual account keeping fees attached to a CommSec Share Trading Account. However, brokerage fees do apply whenever you make a trade.

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12 Responses

  1. Default Gravatar
    BobJuly 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.

    • Staff
      DanielleJuly 10, 2017Staff

      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

  2. Default Gravatar
    kellyMay 1, 2017

    Hi, I’m going to New Zealand for a month and would like to trade ASX through Commsec while I’m over there. Is this allowed or do I need to open an international Account to be able to trade ASX through Commsec?

    • Staff
      ArnoldMay 3, 2017Staff

      Hi Kelly,

      Thanks for your inquiry.
      Yes, it is allowed. You can trade through the CommsecMobile app. It manages and monitors your investments, trade and stay on top of the market on the go with the free CommSec Mobile App, available through the iPhone App Store or Google Play.

      You can use your existing account in trading, no need to create a new one. Please visit this page – https://www.finder.com.au/share-trading/commsec-online-share-trading – for more information about this feature.

      Hope this information helped.

      Cheers,
      Arnold

  3. Default Gravatar
    ParashosOctober 5, 2016

    I like to have excess on my account commsec

    • Staff
      ClarizzaOctober 6, 2016Staff

      Hi Parashos,

      Thanks for your comment. I have emailed you direct.

      Thanks,
      Clarizza

  4. Default Gravatar
    KEVINJuly 19, 2016

    WHAT INTEREST RATE DO YOU PAY ON FUNDS HELD IN
    CDIA. IS IT CALCULATED ON A DAILY BASIS?

    • Staff
      ClarizzaJuly 20, 2016Staff

      Hi Kevin,

      Thanks for your question.

      Just to confirm we are a comparison site finder.com.au – we provide general advice only. If you would like to know the current interest rate paid on funds held in a CDIA please contact CommSec Share trading.

      Regards,
      Clarizza

  5. Default Gravatar
    KolJune 6, 2016

    Can I go to commonwealth bank branch and deposit cash into CDIA? I don’t have a key card for this account.
    My CDIA needs more funds for the transaction I made today and I’m not sure online transfer will make it to the settlement date.

    • Staff
      ShirleyJune 7, 2016Staff

      Hi Kol,

      Thanks for your question.

      Yes you should be able to deposit cash into your CDIA directly at a branch.

  6. Default Gravatar
    ChiApril 6, 2016

    Hi there,

    Currently, I live in Australia and I’m trading shares, so when I leave Australia, can I retain my account and then continue trading?

    Best regards.

    Chi

    • Staff
      ShirleyApril 7, 2016Staff

      Hi Chi,

      Thanks for your question.

      Yes as long as you have sufficient funds in your Commsec account you can continue trading.

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