"CommSec has long been Australia's most popular share trading platform but the rise of accessible, low cost alternatives means it's not necessarily the best bet for investors."
You'll normally pay anywhere from $0 to $20 in brokerage when trading Australian shares via an online trading platform or broker.
CommSec's brokerage fees start at a relatively competitive $5.00 for online trades up to $1,000, but increase depending on the size of your trade.
Here's a rundown of what CommSec charges for Australian shares (as of September 2024):
In comparison, Westpac has a very similar fee structure, charging $4.95 on trades up to $1,000, or 0.11% on trades over $28,000.
In terms of cheaper brokerage, CMC Invest charges zero commission on ASX trades up to $1,000 (on the first trade each day), but $11 on any subsequent ASX trades. eToro charges US$2.00 on ASX trades.
Brokerage and commission fees aside, you should also consider whether the platform charges an inactivity fee. Although IG charges just $$0.00 per trade, its inactivity fee of won't suit everyone.
CommSec has relatively high brokerage fees for international stocks and ETFs compared to others.
Here's a basic breakdown of CommSec's fees (last updated 19 September 2024) on a standard International Shares account:
Aside from CommSec, eToro, Westpac, IG, nabtrade, Totality, Selfwealth and CMC Invest all offer global share trading options. Among these, IG and CMC Invest offer $0 brokerage for global stocks.
IG offers similar brokerage fees at $US US$0.00 for US stocks, £10 or 0.1% for UK and €10 or 0.1% for Germany.
Like CommSec, all of the trading platforms listed on this page can offer secure and reliable trading solutions.
Some people prefer the peace of mind of dealing with an institution they know and trust.
The financial services royal commission not withstanding, a trading platform provided by one of the Big Four banks makes for a convincing argument. However, IG Markets, Selfwealth and Totality are also well-established and regulated names in the Australian share trading industry.
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 Totality both keep all client funds fully segregated with top-tier Australian banks as required by the Australian regulator. Westpac Online Investing also offers 128-bit encryption when trading.
Gold and silver prices are continuing to soar, sending ASX gold and silver stocks to new record highs. Gold heavyweights Northern Star Resources (ASX:NST) is up 36% in the last 6 months, Evolution Mining (ASX:EVN) has risen 54% and Newmont Corporation (ASX:NEM) is up over 70%. Meanwhile silver stocks Andean Silver Ltd (ASX:ASL) and Silver Mines Ltd (SVL) have rocketed over 90%.
Pay zero brokerage when you invest in ASX ETFs using Betashares Direct.
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Stake is a trading platform for Australians who want value for money when trading. Gain access to one of the cheapest CHESS-sponsored and US trading platforms in Australia, and $3 brokerage in the US.
Totality allows you to trade over 60,000 instruments on 50 global stock exchanges and provides lower commissions for active traders.
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