Overall, CommSec can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and trading facilities on shares, forex, commodities, and more to a large global market. CommSec has a reputable reputation with user-friendly trading conditions.
| 🔍 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 Review – A Key 24 Point Quick Overview
Who is CommSec- CommSec Sign-up Bonus
- CommSec Minimum Deposit
- 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
- How to Open a CommSec Account
- Demo Account
- Islamic Account
- CommSec Trading Platforms
- CommSec Fees and Spreads
- CommSec Deposit and Withdrawal
- CommSec Top Countries by Traders – Similar Webb
- CommSec vs CXI vs Alvexo – A Comparison
- CommSec Current Popularity Trends
- CommSec Review Pros and Cons
- Customer Reviews
- Conclusion
- Disclaimer
- Frequently Asked Questions
Who is CommSec
According to research in South Africa, CommSec (Commonwealth Securities) is an Australian brokerage firm that has been in operation since 1995. It has established its successful position in the industry and strives to be professional in everything it does. 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.
It gives real-time access to shares and market prices, regardless of the amount you trade. This means you may open a CommSec International Securities Trading Account with exposure to over 25 leading global share markets including London and New York Stocks.
CommSec also developed an interesting pricing strategy considered as low brokerage rates that starts from $10/ZAR 150 per trade for trades under $1 000/ZAR1 500 (at the time of writing) giving you a better value for money. In addition, CommSec also offers research materials you can trust, including Goldman Sachs stock and Morningstar ratings together with the latest tools like CommSecIRESS.
CommSec Sign-up Bonus
CommSec does not offer a sign-up bonus.
| 🌐 CommSec | |
| Sign Up Bonus | 📌 No |
| Welcome Bonus | 📌 No |
| Referral Bonus | 📌 No |
CommSec Minimum Deposit
CommSec does not have a minimum deposit requirement. 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.
| 🌐 Broker | CommSec |
| 🏛 Regulating Authority | The Australian Securities and Investments Commission (ASIC) |
| 💰 Minimum Deposit | $0 *No Minimum |
| 📌 Australian shares |
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 complement or refine your existing share strategies or take advantage of opportunities in other ways to own the 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 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.
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 Trading Platforms
CommSec WebTrader is a web-based platform that is user-friendly and provides traders with a lot of helpful analytic and trading tools. The platform grants access to its own community forum, advanced real-time charting, stock screeners, trading limits, stock announcements, and many others.
The platform is compatible with all the popular web browsers, such as Google Chrome, Safari, Edge, and Firefox. CommSec Mobile App has most of the features of the web version, such as interactive and customizable charts, conditional orders, stock watchlists, and comparison charts. With this app, you can stay on top of the market and trade wherever you are.
CommSec Pocket is a simple investing app that brings investing within your reach. This is especially for those who think investing seems hard, and you need a lot to get started.
You can start investing with as little as $50/ R800 ZAR and gradually build a portfolio over time. CommSec will help you along the way with bite-sized tips, videos, and articles to teach you all about the share market.
CommSec Fees and Spreads
CommSec charges a spread of 0.60% on the wholesale rate at the time the rates are locked. Trading fees at CommSec are based on a commission basis and depend on the instrument you trade and decrease as your trading size increases. Initial commissions may be a once-off payment and are calculated as a percentage of the funds you have invested.
| 🌐 CommSec | |
| 📌 Fees and Spreads | No inactivity fee |
| Commission fees | |
| No Withdrawal fee | |
| No Deposit fee |
CommSec Deposit and Withdrawal
CommSec offers professional trading of shares which means your account is automatically connected to your nominated settlement bank account, so all the transactions are connected to it directly.
This means that once you settle an order the amount on which you bought shares will automatically be a debit from the bank account, and the same happens with the sale of shares. Although the CommSec Share Account is connected to your initial bank account, there is no specification on how much money should be in there.
However, the initial purchase of any shareholding must be at least $500/ZAR7 500 worth of shares, known as a ‘minimum marketable parcel of shares. There are only two options available for making payments: Linking your bank account and using BPay.
CommSec Top Countries by Traders - Similar Web
| 🌐 Australia |
| 🌐 Thailand |
| 🌐 United States |
| 🌐 India |
| 🌐 Ireland |
CommSec vs CXI vs Alvexo - A Comparison
| 🔍 Broker | 🥇 CommSec | 🥇 CXI Markets | 🥇 Alvexo |
| 💰 Minimum Deposit | No Minimum Deposit | $500 USD | $500 USD |
| ZAR | 0 | 7 500 ZAR | 7 500 ZAR |
| 🎉 Bonus | 📌No | 📌 No | 📌 No |
| ☪️️ Islamic Account | 📌 No | 📌 No | 📌 No |
CommSec Current Popularity Trends
According to Google Trends, here is an overview of how frequently the search term “CommSec” is entered into Google’s search engine over a given period of time.
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 Review Pros and Cons
| ✅ PROS | ❌ CONS |
| Access to international securities | Only Australian clients |
| Multiple educational resources | Difficult account opening process |
| Minimal entry requirement | Few account funding options |
| 7 000+ contract for difference markets | No MetaTrader platform |
Conclusion
Overall, CommSec is an Australian company with a strong background based on the efficiency and reliability of the Commonwealth Bank. It does not offer its brokerage services to clients outside Australia.
CommSec offers trading in shares over 2 000 stocks listed on the Australian Stock Exchange. They offer traders margin loans to boost their portfolio and trading capacity. Traders can also trade CFDs, warrants, fixed-income securities, and managed funds.
You might also like: CommSec Account Types Overview
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
Disclaimer
According to research in South Africa, CommSec can expose you to unfavorable movements in the value of shares and units in managed funds, and possibly to margin calls. Please be aware that you are personally liable for any shortfall that occurs should your entire portfolio be sold to answer a margin call where a fall has taken place in the market value of your investments,
CommSec also offers access to the 25 biggest exchanges around the world, like New York Stock exchange, NASDAQ, Tokyo Stock Exchange, and the London Stock Exchange. To have access to these, you will need to open a CommSec International Securities Trading Account.
The trading environment is a comprehensive feature mainly suitable for active and professional traders due to its sophisticated technology and access to professional instruments, mainly offering to trade shares. Beginner traders are also welcomed, as the broker provides leading educational materials, as well as investment programs suitable for investors of any size or need.
Frequently Asked Questions
Is CommSec a good and legit broker?
Our Review of CommSec reveals that this broker is regulated by one of the strictest oversight authorities, ASIC (Australia) and therefore legit.
What is the leverage with CommSec?
Leverage with this broker ranges from 1:20 up to 1:500
What are the deposit methods for CommSec?
Only 2 methods are available: Link your bank account or BPay.
What platforms are supported by CommSec?
Platforms supported by this broker is CommSec Webtrader and ComSec IRESS.
What type of customer support does CommSec provide?
Customer support is provided via email, telephone, filling in a questionaire or live chat.
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