CommSec Account Types vary according to what traders require, CommSec is a trading name used by Commonwealth Securities Limited, a wholly-owned subsidiary of the Commonwealth Bank of Australia, a market participant of the ASX and Chi-X Australia.
| 🔍 Broker's Name | CommSec |
| 🏛 Headquartered | Sydney, Australia |
| 📅 Year Founded | 1995 |
| 📃 Regulating Authorities | (ASIC) Australian Securities and Investments Commission |
| 🌐 Countries not accepted for trade | Only accepts clients from Australia |
| ☪️️ Islamic Account (Swap Free) | No |
| 📒 Demo Account | No |
| 📒 Institutional Accounts | Yes |
| 💻 Managed Accounts | Yes |
| 📊 Maximum Leverage | 500:1 |
| 💰 Minimum Deposit | $0 |
| 💳 Deposit Options 💳 Withdrawal Options | Linking your bank account and BPay |
| 📊 Platform Types | CommSec Webtrader, CommSec Mobile App, CommSecIRESS |
| 📲 OS Compatibility | Web, mobile |
| 📉 Tradable Assets | Contracts for Difference (CFDs) and trading facilities on shares, forex, commo |
| 🌐 Languages supported on Website | English |
| ☎ Customer Service Hours | Monday to Friday from 08:00 – 19:00 Sydney time. |
Min Deposit
USD 0
Regulators
ASIC
Trading Platform
CommSec WebTrader, CommSec Mobile App, CommSec IRESS
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
CommSec Account Types Revealed – A Key 13 Point Quick Overview
CommSec Overview- CommSec Account Types
- CommSec Account Features
- CommSec Share Trading Account
- CommSec Margin Lending Account
- CommSec Options Account
- Commonwealth Direct Investment Account (CDIA)
- CommSec International Securities Trading Account
- Demo Account
- Islamic Account
- Customer Reviews
- CommSec Pros and Cons
- Frequently Asked Questions
CommSec Overview
CommSec is an Australian brokerage firm that has been in operation since 1995 offering trading on shares and options. Its headquarters are in Sydney. CommSec is a trading name used by Commonwealth Securities Limited, a wholly-owned subsidiary of the Commonwealth Bank of Australia, a market participant of the ASX and Chi-X Australia.
Being a subsidiary of a strong established financial company and a bank, its trading service and all settlements are authorized by the Australian Securities and Investment Commission (ASIC) and the broker obliges to the strict laws and regulations set by the commission.
Due to the regulatory overseeing and reputation within the finance world as a regulated company means the broker is constantly audited and maintains transparent conditions. CommSec is also a part of a reputable Bank within Australia that gives you even more peace of mind. Apart from the provided security as per regulation requirements, CommSec also protects client funds, through its Banking regulated service.
With CommSec you can trade in financial instruments such as Australian Shares, Margin Loan, Cash, Options, International Shares, Exchange Traded Funds, Warrants, and Fixed Income Securities. The broker developed a pricing strategy considered as low brokerage rates that starts from $ 10 per trade for trades under $ 1 000 giving you better value for money.
It does not offer trading through the popular MetaTrader 4 but through its own in-house trading platforms.
Today, CommSec is one of the leading online trading providers within Australia, which actively maintains the financial growth of the industry, educating traders and supporting regional communities through various programs.
CommSec Account Types
CommSec offers the following live trading accounts, namely CommSec Share Trading Account, CommSec Margin Lending Account, CommSec Options Account, CommSec CDF Account, and CommSec International Securities Trading Account.
CommSec Account Features
Not much information is forthcoming on the website of CommSec regarding the different live account types. It does not clearly state what the minimum deposit requirement is or the kind of leverage offered. The following gives you an idea of the different account types and what the features are.
| ☑ CommSec | |
| Account Types | 🌐 CommSec Australian Share Trading |
| 🌐 CommSec Margin Lending Account | |
| 🌐 Commonwealth Direct Investment Account (CDIA) | |
| 🌐 CommSec International Securities Trading Account |
CommSec Share Trading Account
A CommSec Share Trading Account is a fast, simple, and affordable way to buy and sell Australian shares. You can place orders without a deposit, which provides you with the opportunity to take advantage of investment opportunities when they arise.
| The day your order is fulfilled, we send a confirmation with the details of your trade. |
| The ASX requires you to pay for your shares two (2) business days after the day of your trade. |
| When selling, we will credit your bank account two (2) business days after the day of your trade. |
| You can use the sale proceeds immediately (before settlement) to pay for further buy orders executed on the same or next day |
CommSec Margin Lending Account
With the extra investment capital from a Margin Loan, you can build a larger portfolio that can allow you to diversify your investments over a wider range of assets. This means more than just increased potential returns – it also gives you greater exposure to price movements, dividends, franking credits, and corporate actions.
| You can buy, sell, transfer cash within your loan’s approved limits. |
| Your gearing level moves with the daily price movements of your portfolio and your transactions |
| You must monitor your gearing level to ensure it stays below the approved limits. |
| Interest is calculated daily on your loan balance, and paid according to your loan arrangement. |
| Check which shares in your portfolio we lend against. |
CommSec Options Account
Exchange-Traded Options (Options) are a versatile and flexible tool. They can be used to compliment or refine your existing share strategies or take advantage of opportunities in other ways to owning direct shares. Options strategies can be as simple or as complex as you want.
| Bought Call Options | give the BUYER the right (but not the obligation) to buy a specific number of securities, for a specific price, on or before a set date. |
| Bought Put Options | give the BUYER the right (but not the obligation) to sell a specific number of securities, for a specific price, on or before a set date. |
| Sold Call Options | oblige the SELLER to deliver stock if required (exercised) by the BUYER, at the agreed price and quantity up until expiry of the option. |
| Sold Put Options | oblige the SELLER to buy the stock if required (exercised) by the BUYER at the agreed price and quantity up until expiry of the option. |
Commonwealth Direct Investment Account (CDIA)
The Commonwealth Direct Investment Account (CDIA) is the preferred cash management account for CommSec share traders – with it you can seamlessly settle trades, transact and earn tiered interest based on your account balance.
| Access your cash from any CBA branch, ATM, or via phone and internet banking. |
| Settle your trades automatically through your CDIA. |
| Earn tiered interest on funds in your account. |
| Use the optional Debit MasterCard to access your cash globally. |
CommSec International Securities Trading Account
With a CommSec International Securities Trading Account, you can take advantage of investment opportunities across the globe, with access to more than 25 leading global share markets.
| Launch the international Trading platform to place a trade on US markets |
| Contact the International Trading Desk to place a trade on Non-US markets |
| View your trades and holdings online on your International Trading Account |
| Transfer the funds into the relevant currency online or over the phone by contacting the International Trading Desk |
How to Open a CommSec Account
Step 1 – Click Join on the CommSec Website.
CommSec allows the opening of an account based on an existing bank account or you must open a Cash account using the CommSec Share Trading account for the seamless settling of trades.
CommSec Market review accounts and this process is very time-consuming. You must decide what you want to do, answer a series of questions before the site takes you to the requirements you need for opening an account. Only then do you fill in your details and are ready for trading.
Step 2 – Proceed through the KYC process and answer all questions that take you through the requirements needed for opening an account.
Demo Account
CommSec does not offer traders the option of opening a Demo Account. These kinds of accounts are usually offered as a practice account for beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds.
Islamic Account
The purpose of an Islamic Account is that it caters specifically to Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.
Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer. CommSec does not offer the option of an Islamic Account to Muslim traders who follow the Sharia law.
Customer Reviews
Great!
CommSec provides the easiest and most accessible in-house platforms, trading platforms such as CommSec Pocket and Web Trader are by far the best I’ve come across – Max
Keen on the Affiliate Programs offered
CommSec reaches Affiliate Brokers in South Africa – They offer in-house CommSec Trader platforms across most accounts, which is a bonus! – Chris
No Sign Up Bonus offered.
The CommSec website is easy to navigate, just disappointed that there are no sign-up bonuses on offer. – Natalie
CommSec Pros and Cons
| ✅ PROS | ❌ CONS |
| Provides access to international securities | Accepts only clients from Australia |
| Various educational tools are available | Complicated process to open an account |
| Few payment methods offered | |
| Limited account currencies available | |
| No demo account offered | |
| No Islamic account for Muslim traders | |
| No MetaTrader 4 platform |
Min Deposit
USD 0
Regulators
ASIC
Trading Platform
CommSec WebTrader, CommSec Mobile App, CommSec IRESS
Crypto
No
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
You might also like: CommSec Review
You might also like: CommSec Demo Account – Step by Step
You might also like: CommSec Fees and Spreads
You might also like: CommSec Minimum Deposit
You might also like: CommSec Sign up Bonus
Conclusion
Overall, CommSec is a company with a strong background based on the efficiency and reliability of Commonwealth Bank. The trading environment is also a comprehensive feature suitable for active and professional traders due to its sophisticated technology and access to professional instruments.
Frequently Asked Questions
How many instruments can I trade with CommSec?
You can trade the following financial instruments:
- Australian Shares
- Margin Loan
- Cash
- Options
- International Shares
- Exchange Traded Funds
- Warrants
- Fixed Income Securities
Does CommSec offer leverage?
This is not indicated.
What spreads can I expect with CommSec?
CommSec charges a spread of 0.60% on the wholesale rate at the time the rates are locked.
Is CommSec a good broker if I am new to trading?
Yes. Although it does provide many educational tools it does not offer a demo account. It focuses more on the advanced traders that does not trade in huge volumes.
What currencies can I use when trading with CommSec?
USD.
Top 4 Brokers
