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 lots |
| 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 |
