CommSec Overview
| Website | commsec.com.au |
| Year Founded | 1995 |
| Countries of Registration | Australia |
| Website Languages | English |
| Regulators | ASIC |
| Broker Type | DMA |
| Dealing | A-book |
| Minimum Deposit | $1 |
| Account Currencies | AUD |
| Spread | average |
| Trading Platforms | CommSec Web, CommSec App, CommSec Pocket |
| Trading Assets | Shares, ETFs, options, managed funds, margin lending |
Brief look at CommSec
CommSec is Australia’s largest online stockbroker and a wholly-owned subsidiary of Commonwealth Bank. Founded in 1995, it offers direct market access to the ASX plus 13 international exchanges, $0 account-keeping fees, tiered brokerage from A$5 per trade, and integrated banking via the CDIA settlement account. Clients can trade on desktop or via the CommSec and Pocket mobile apps, access Morningstar research, and finance portfolios through a margin-loan facility. Regulated by ASIC, CommSec is CHESS-sponsored for Australian equities, but accounts are available only to Australian residents.
Pros
- ASIC-regulated, backed by Commonwealth Bank
- Intuitive mobile app
- CHESS sponsorship for ASX shares
- Access to 13 global markets
- Integrated CDIA cash account with fast settlement
- Comprehensive research & Morningstar data
Cons
- Available only to Australian residents
- Higher brokerage than new discount brokers
- No MT4/MT5 or cryptocurrency trading
- No negative-balance protection
- Limited derivative line-up (no CFDs/FX)
Is CommSec available in my country?
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CommSec doesn't accept clients from United States!
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CommSec Reviews
I've been using CommSec for over a year now and I have to say their app is fantastic! The login process is smooth, and the account types they offer cater to various investing styles. Highly recommend!
5/15/2023Overall, CommSec is a solid broker. The spreads are quite competitive, and I appreciate the leverage options available. The withdrawal time is also reasonable, making it easy to access my funds. I did face a few hiccups during the sign up process, but it was worth it in the end.
4/20/2023CommSec is decent for trading, but I found the minimum deposit requirement a bit high compared to other brokers.
11/10/2022The trading experience on CommSec has been generally positive. The app is easy to download and navigate.
1/30/2023I'm really impressed with CommSec! Their customer service is responsive, and I had a smooth process when I wanted to make withdrawals. The trading tools available are robust. Definitely a broker worth considering!
3/5/2023Leave a Review
Is CommSec regulated?
| Companies | Commonwealth Securities Ltd |
| Countries | Australia |
| Regulators | ASIC |
| Investor Protection | - |
| Investor Protection Size | - |
| Publicly Traded | |
| Segregated Accounts | |
| Guaranteed Stop Loss | |
| Negative Balance Protection |
CommSec Account Types
| Property | Commonwealth Direct Investment Account (CDIA) |
|---|---|
| Min Deposit | $1 |
| Lot Size | 0.01 |
| Spread Type | Floating |
| Execution | Market |
| Min Spread | 1 pips |
| Fee | $10 per 1 lot |
| Max Leverage | 1:1 |
| Stop Out | - |
| Margin Call | - |
Additional Features
- Demo Account
- VIP Account
- Swap-Free Account
- Copy Trading
- VPS
- PAMM/MAM Accounts
CommSec Funding and Fees
| Base currencies | AUD |
| Deposit and withdrawal methods | Linked CDIA bank account, NetBank transfer, BPAY |
| Inactivity fee | |
| Interest on margin | |
| Withdrawal Fee |
CommSec Trading Platforms and Conditions
| Trading Platforms | CommSec Web, CommSec App, CommSec Pocket |
| Execution Speed | 3 ms |
| Scalping | |
| Expert Advisors (EAs) | |
| Depth of Market (DOM) | |
| Spread | average |
CommSec Trading Assets
| Currencies | 0 |
| Indices | 0 |
| Stocks | 2200 |
| Cryptocurrencies | 0 |
| Bonds | 0 |
| Metals | 0 |
| Energies | 0 |
| Soft Commodities | 0 |
| ETFs | 200 |
Education and Analytics
| Economic Calendar | |
| Indicators | |
| Robots | |
| Signals | |
| Autochartist | |
| Expert Analytics | |
| News Feed | |
| Education Articles | |
| Webinars | |
| Seminars |
CommSec Support
| hoax@cba.com.au | |
| Phone | +61283971206 |
| YouTube | YouTube |
CommSec Alternatives
| Broker | CommSec | CMC Markets | Plus500 | eToro | IG | Interactive Brokers |
|---|---|---|---|---|---|---|
| Type | DMA | MM | MM | MM, Social | MM, DMA | DMA |
| Minimum Deposit | $1 | $1 | $100 | $200 | $1 | $1 |
| Regulators | ASIC | FCA, BaFin, FMA, KNF, FSAN, CNMV, CIRO, ASIC, NZ FMA, MAS, DFSA | CySEC, FCA, ASIC, NZ FMA, FSCA, SFSA, EFSA, MAS, CFTC, NFA | SFSA, FCA, CySEC, ASIC, SEC | FCA, BMA, BaFin, FSAN, AFM, CONSOB, CNMV, ACPR, FI, FINMA, NFA, CFTC, ASIC, NZ FMA, JFSA, JFFA, MAS, FSCA, DFSA | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS |
| Platforms | CommSec Web, CommSec App, CommSec Pocket | MetaTrader 4 (MT4), CMC Markets | Plus500 | eToro | MetaTrader 4 (MT4), IG Trading Platform, L2 Dealer | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader |
| Spread | average | low | average | high | average | low |
| Leverage | 1:10 | 1:30 | 1:30 | 1:30 | 1:200 | 1:50 |
| Assets | Shares, ETFs, options, managed funds, margin lending | Currencies, Indices, Stocks, ETFs, Bonds, Metals, Energies, Soft Commodities | Currencies, Indices, Stocks, ETFs, Metals, Energies, Soft Commodities | Currencies, Indices, Stocks, ETFs, Cryptocurrencies, Metals, Energies, Soft Commodities | Currencies, Indices, Stocks, ETFs, Bonds, Cryptocurrencies, Metals, Energies, Soft Commodities | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, Cryptocurrencies, Commodities, CFDs |
Is CommSec Right for You?
CommSec stands out as Australia’s largest online stockbroker, offering a robust platform backed by the Commonwealth Bank. With features such as $0 account-keeping fees, tiered brokerage starting at A$5 per trade, and access to both domestic and international markets, it caters well to investors looking for comprehensive research tools and integrated banking options. The intuitive mobile app and CHESS sponsorship for ASX shares further enhance the user experience. However, there are notable drawbacks to consider. CommSec is available exclusively to Australian residents, which limits its accessibility. Additionally, its brokerage fees are higher than those of some newer discount brokers, and it lacks options for cryptocurrency trading or advanced trading platforms like MT4/MT5. The absence of negative-balance protection and a limited selection of derivatives may also deter some traders. In summary, CommSec is an excellent choice for Australian residents seeking a reliable and feature-rich trading platform, especially those interested in accessing a wide range of research and global markets. However, if you are an international trader, a cryptocurrency enthusiast, or someone looking for the lowest possible fees, you might want to explore alternative brokers.
FAQ
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Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.
