CommSec
2.9/5

CommSec

✔ No inactivity fee for Australians ✔ No minimum account deposit requirement
Visit site
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Home » CommSec

CommSec (Commonwealth Securities) is one of the largest Australia-based brokerage firms with a global presence.

Pros
  • No minimum account deposit requirement
  • Outstanding educational and research resources
  • Powerful user-friendly platform
  • No inactivity fee for Australians
  • Various account types to choose from
Cons
  • Customer service is available during weekdays only
  • $500 minimum initial share trade amount
  • No demo account

It was founded in the 1990s and managed by the Commonwealth Bank of Australia. This is evident that the broker is safe, considering that the Australian Securities and Investment Commission (ASIC) also regulates its activities. In addition, the broker offers a web-based platform and a reliable mobile app to manage your trading activities on the go.

CommSec official site
CommSec broker
CommSec
CommSec mobile
CommSec official site
CommSec broker
CommSec
CommSec mobile

CommSec – Who Are They?

CommSec is one of the pioneer brokerage firms with over 20 years of experience offering shares, ETF, and options trading. This broker also provides banking services through its Commonwealth bank. The good news is that you do not need to be a member of its bank to sign up for a trading account.

CommSec is known for its share trading and features elements suitable for beginners and expert traders alike. These include up-to-date market data and prices. As a result, you will be able to stay abreast with trending financial news and take quick advantage of any arising opportunities. 

CommSec review

This broker has an international securities account that allows you to trade foreign shares in some of the biggest stock exchanges. You can easily sign up for an account through its web and mobile platforms that have proven reliable. 

In addition, CommSec has a CDIA account, which is convenient for settling trades without the need for account transfers. The CDIA account charges low fees with share trading costs starting from $10. Account keeping is also free. 

Compare CommSec With Other Brokers

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CommSec logo
Visit site
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Read Review
$50 (but the initial purchase of any particular shareholding must be at least $500)
NetBank
No
$10.00 – $99.95
No
$10.00 – $99.95
No
CommSec , CommSec mobile app
ASIC
No
Yes, up to $10,000
No
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1000+
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Risk Warning
76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Risk Warning
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Our Opinion About CommSec

CommSec is an excellent choice for newbies and advanced traders. Its research resources are just outstanding to maximise your potential. Moreover, we believe that the learning resources provided will also help you improve your skills. This includes a CommSec Learn platform containing guides and articles. There are also trading insights and ideas from its professional advisors.

CommSec has dedicated customer service that you can also access through Twitter. They are very responsive when contacted. The only disappointing feature is the working days, which is only on weekdays. 

While this broker may have excellent features, note that the trading charges you will incur are high. Therefore, we highly advise that you confirm the charges before rushing to create a live trading account

All in all, we still believe that CommSec is a well-established broker due to its long track record and excellent trading tools. Keep in mind that it doesn’t have a demo account, but you can still take the plunge considering its low trading charges and no minimum deposit requirement. So, good luck!

CommSec Details

Licences
TradingGuides Rating:
✔ No inactivity fee for Australians
✔ No minimum account deposit requirement
Visit site
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
4.0
Customer support
3.0
Commissions & Fees
4.0
Platform & Tools
4.0
Research
3.8 Overall Rating

One Reply to “CommSec”

  • Heather Evans says:

    This broker is safe and secure because it’s owned by one of the Big Four banks. Also, straightforward and speedy sign-up process, easy-to-use website and mobile app and no account fees for opening or keeping an account! But brokerage fees are relatively expensive when compared with some smaller online trading platforms…
    and inactivity fee for international trading accounts, if you don’t trade at least once a year.

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